News
Changing Canadian risk landscape leaves questions for the industry
January 28, 2013 by Canadian UnderwriterCanadian Underwriter and Swiss Re have teamed up to host a live webinar, entitled the Changing Canadian Risk Landscape, reflecting on natural hazards throughout the country and what Canada can expect for the future. The free webinar, scheduled for Feb. 7…
The Dominion launches mobile-friendly quoting portal for broker partners
January 28, 2013 by Canadian UnderwriterThe Dominion has launched a tablet version of its commercial insurance quoting portal for brokers, available for the iPad and BlackBerry Playbook. E-CLIPS is the insurer’s quoting portal for small-to-medium sized businesses. The mobile portal now allows brokers to provide…
Kanetix partners with Gore Mutual to expand commercial quotes
January 28, 2013 by Canadian UnderwriterInsurance quote comparison website Kanetix.ca has now partnered with Gore Mutual Insurance to expand the site’s commercial quote service. The service is available to commercial insurance customers in Ontario and Alberta and will now include commercial insurance quotes from Gore…
Effects of cyclone prompt catastrophe declaration in Australia
January 28, 2013 by Canadian UnderwriterStorms and inundation caused by ex-tropical Cyclone Oswald has resulted in reports of substantial damage in the Wide Bay area of Queensland, Australia and moderate to severe damage in communities from the New South Wales (NSW) border north to Cairns,…
Canadian P&C market will continue to “deglobalize”
January 25, 2013 by Harmeet Singh, Online EditorThe Canadian property and casualty market is increasingly becoming dominated by domestic players, a trend that brokers cannot and should not ignore, one industry head says. “Globalization was the trend we were all reading about,” several years ago, but now…
U.S. insurers may not be ready for risk management, risk solvency legislation
January 25, 2013 by Canadian UnderwriterThere appears to be a gap between the perception that polled insurers in the United States have about their readiness for the Risk Management and Own Risk Solvency Assessment Model Act and how complete their enterprise risk management (ERM) frameworks…
African markets present growth opportunity for insurance industry
January 25, 2013 by Canadian UnderwriterGlobal financial instability and some political risks are still evident as impediments in African markets, but the region still presents an opportunity for growth and untapped demand, notes a special report from rating agency A.M. Best. “Given anticipated development of…
Telematics could change how personal insurance is sold: Cooke
January 25, 2013 by Angela Stelmakowich, EditorBrokers would be well-advised to be prepared for dealing with the influence of telematics – something that George Cooke suggests will ultimately revolutionize the way personal insurance is sold – or risk being left behind. “The reality is that this…
Natural perils in 2012 caused $72 billion in insured losses: Aon Benfield
January 25, 2013 by Canadian UnderwriterAon Benfield announced Thursday the release of its annual global climate and catastrophe report, noting 2012 was the eighth warmest year since 1880 and the costliest catastrophe worldwide was Hurricane Sandy, while a hailstorm July 12 in Calgary led to…
Driving business to broker channel demands considering new approaches
January 24, 2013 by Canadian UnderwriterExperimentation may help identify how best to combat erosion in the broker channel, Brigid Murphy, president and CEO of The Dominion, suggested at an Insurance Brokers of Toronto Region luncheon on Tuesday. The Dominion is “very interested in experimenting with…
Aon Benfield, Swiss Re develop new reinsurance product for weather losses
January 24, 2013 by Canadian UnderwriterReinsurance intermediary Aon Benfield has launched a new weather reinsurance product to help insurers protect against weather losses in the United Kingdom. WExcessm, launched Wednesday, was developed in partnership with Swiss Re and CelsiusPro, a weather risk management specialist. “It…
P&C insurance employs 22,000 directly in more than 6,000 firms in Ontario: Study
January 24, 2013 by Canadian UnderwriterThe property and casualty insurance industry has more than 6,000 firms in Ontario employing more than 22,000 people, contributing billions every year to the province’s economy, according to a study released Thursday. “In total, the property & casualty insurance industry…