News
McLennan Group Insurance launches mobile app for CARP members
January 18, 2013 by Canadian UnderwriterThe McLennan Group Insurance Inc. announced earlier this week the Insurance Programs for CARP Members mobile application is available now. Aptly named CARPMembers, the quick, easy and free app is available to current and future CARP members, notes a joint…
Manitoba Public Insurance reports stable financial performance
January 18, 2013 by Canadian UnderwriterManitoba Public Insurance (MPI) this week reported that claims costs and investment income remain within expectations, citing net income of $15.1 million for the first nine months of the year, ended Nov. 30, 2012, compared with $36.9 million over the…
37% of U.S respondents report spending more on insurance over the past year
January 18, 2013 by Canadian UnderwriterMore than a third of respondents to a recent survey in the United States say they spent more on insurance over the past year, the majority as a result of higher premiums. Of the respondents taking part in the survey,…
Canada gets a “C” grade on environmental report card
January 18, 2013 by Canadian UnderwriterCanada has received “C” grade on a new environmental report card, ranking low on the list of other major developed countries, above only the United States and Australia. Canada ranked 15th out of 17 countries on The Conference Board of…
Relationship between brokers, insurance companies improved in 2012: survey
January 17, 2013 by Canadian UnderwriterThe relationship between brokers and their insurance company partners improved significantly in 2012, suggests the results of a survey conducted by the Insurance Brokers Association of Ontario (IBAO). The results from IBAO’s “Rate Your Company” survey from last year suggest…
FSCO lays 84 charges against two Toronto rebab clinics, four people for auto fraud
January 17, 2013 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has laid 84 charges under Ontario’s Insurance Act against two Toronto rehabilitation clinics and four individuals alleged to have submitted false invoices to auto insurers. The clinics were each charged with seven counts of…
Western Financial Group acquires First Insurance Agencies
January 17, 2013 by Canadian UnderwriterFirst Insurance Agencies Ltd. in Campbell River, British Columbia has joined Western Financial Group’s growing network of insurance brokerages across western Canada, effective Jan. 14. Marking Western’s third acquisition on Vancouver Island in the last year, the company now has…
Bushfires spark another catastrophe declaration in Australia
January 17, 2013 by Canadian UnderwriterExtensive damage caused by ongoing bushfires prompted the Insurance Council of Australia (ICA) to formally declare as catastrophes the region around Coonabarabran and the Warrumbungle National Park in northern New South Wales. The ICA issued the catastrophe declaration, which covers…
New Brunswick court upholds order to produce fire documents for State Farm
January 17, 2013 by Canadian UnderwriterThe New Brunswick Court of Appeal recently upheld a lower court decision requiring a fire insurance claimant to produce records for State Farm Fire & Casualty Insurance. The appeal court dismissed an appeal from Karen Bennett of an Oct. 2011…
Specialty risk company launches database for stolen golf carts
January 16, 2013 by Canadian UnderwriterSpecialty insurance broker Signature Risk Partners Inc. has launched a new database of stolen golf carts. The Stolen Cart Online Registry (SCOR) addresses a need by the golf industry to track stolen carts from different manufacturers, the company says. “The…
7% chance industry could see natural catastrophe losses similar to 2011 level: report
January 16, 2013 by Canadian UnderwriterThere is a 7% probability that the global insurance industry will see a level of loss similar to 2011, when insured losses from global natural catastrophes exceeded $110 billion, suggests a new report. In its report, Taking a Comprehensive View…
Survey suggests support for improving claims process, upgrading systems
January 16, 2013 by Canadian UnderwriterImproving the insurance claims process and upgrading or replacing claims systems were among the key focus areas for the majority of insurance claims professionals in the United States responding to a survey by Massachusetts-based Trillium Software. Almost 93% of respondents…