News
ACE Canada appoints new assistant vice president for eastern region
November 7, 2012 by Canadian UnderwriterInsurer ACE Canada, the Canadian-based operation of ACE Group, has appointed Andre Vukadin as assistant vice president and branch manager for Quebec and Eastern Canada. In his new role, Vukadin will be responsible for growing the commercial and national risk…
Most P&C claims executives expect no additional mobile computing spending: Survey
November 6, 2012 by Canadian UnderwriterMost property and casualty insurance claims executives responding to a recent survey say they are not satisfied with their organization’s capability of supporting for mobile computing devices but only a minority of respondents said their organizations have budgeted for increases…
IBC puts support behind insurance education during Financial Literacy Month
November 6, 2012 by Canadian UnderwriterThe Insurance Bureau of Canada has thrown its support behind Financial Literacy Month, which runs during November, offering resources to help consumers better understand personal, home and auto insurance. IBC is supporting the event with “community events, partnerships with key…
XL Group reports boosted net income in Q3 2012 over same period last year
November 6, 2012 by Canadian UnderwriterDublin-based global insurer XL Group has reported a net income of $171.9 million for the third quarter of the year, up significantly from the same period in 2011. The company had reported a net income of just over $42 million…
Large-loss years from extreme weather no longer rarities: ICLR
November 6, 2012 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) reports that large insured losses from extreme weather appear to be “the new normal” for the Canadian insurance industry, expecting that large-loss years will no longer be rarities. As insured losses from extreme…
Sandy unlikely to be “market-changing” for reinsurers, based on loss estimates: Fitch
November 5, 2012 by Canadian UnderwriterThe global reinsurance industry is in a strong position to take on losses from “Superstorm” Sandy, which recently hit the eastern United States, Fitch Ratings said Monday. A “solid” capital position, combined with few catastrophe losses throughout the year has…
Most small businesses spending more time on social media: survey
November 5, 2012 by Canadian UnderwriterTwo-thirds of small businesses surveyed reported they spend more time on social media, such as Facebook, Twitter and LinkedIn, they they did a year ago, but a third of executives in charge of the firms said they would rather focus…
SCOR places cat bond against U.S. hurricanes and earthquakes, European windstorms
November 5, 2012 by Canadian UnderwriterGlobal reinsurer SCOR placed a new catastrophe bond on Nov. 1, the company has announced. Atlas Reinsurance VII Limited, an Irish reinsurance vehicle, will provide the company US$60 million against hurricanes and earthquakes in the United States, and 130 million…
DAS Canada launches DASbusiness policy for Quebec
November 5, 2012 by Canadian UnderwriterSpeciality legal expense insurer DAS Canada has launched its DASbusiness policy in Quebec, offering a week of free phone legal advice.The policy covers legal fees associated with issues such as staffing, tax filings and outstanding invoices. “With the average price…
Profits up for Crawford and Company in Q3
November 5, 2012 by Canadian UnderwriterCrawford and Company announced Nov. 5 its financial results for the period ending Sept. 30, reporting a company-wide increase in revenues and profits, a 43% increase in legal settlement administration revenue and a drop in revenue for the Americas region.…
ICBC cuts 250 jobs, mainly management
November 2, 2012 by Canadian UnderwriterThe Insurance Corporation of British Columbia, a Crown corporation that provides auto insurance in the province, has cut about 250 positions, mainly in management. Five members of its executive have left the company, and two executive positions reporting to the…
ICLR to host workshop on earthquake hazard estimation
November 2, 2012 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) will be hosting a workshop this month on earthquake hazard estimation. Dr. Kristy Tiampo from Western University will discuss her research on the topic during the event on Nov. 16 at ICLR’s downtown…