News
New Brunswick Consumer Advocate for Insurance advocates on its own behalf
May 4, 2012 by Canadian UnderwriterNew Brunswick’s Consumer Advocate for Insurance is advocating for its own existence, resisting a recommendation in a July 2011 report to fold the office into a larger public utilities framework. The office was established in 2005 “not only as one…
Severe U.S. weather in April causes more than $650 million in insured damage
May 4, 2012 by Canadian UnderwriterSevere weather damage in the United States in April 2012 resulted in at least 105,000 claims and insurance payments exceeding $650 million, notes an Aon-Benfield report. In its April 2012 Global Catastrophe Recap, Aon Benfield references a major severe weather…
CARSTAR holds seminar on paintless dent repair estimating and techniques
May 4, 2012 by Canadian UnderwriterMore than 50 CARSTAR insurance partners attended a Paintless Dent Repair (PDR) estimating and techniques training seminar in April at CARSTAR’s corporate head office and training facility, CARSTAR Vision Park in Hamilton, Ontario. The three-hour course provided attendees both classroom and…
B.C, police and public insurer launch intersection safety campaign
May 3, 2012 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC), the Province of B.C. and police have launched a new initiative meant to put the brakes on intersection collisions, which represent about six of every 10 crashes in the province. Given 241 intersection…
Co-operators quarterly profit increases based on auto reforms, good weather
May 3, 2012 by Canadian UnderwriterCo-operators General Insurance Company (Co-operators General) reported its 2012 Q1 profit increased to $66.5 million from $25.8 million during the same period last year. “Earnings in the first quarter were positively impacted by favourable claims results from the Ontario auto…
Forget catastrophes, regulation is top concern for U.S. insurance executives: Lloyd’s
May 3, 2012 by Canadian UnderwriterRegulation is the number one challenge facing the U.S. insurance industry despite the financial burden associated with the elevated number of catastrophes in 2011, a Lloyd’s survey of insurance executives in April reveals. Lloyd’s canvassed 100 insurance executives at the…
Trucking industry gains access to contractor management services
May 3, 2012 by Canadian UnderwriterThe Canadian trucking industry has gained access to Contractor Management Services’ (CMS) propriety technology through NAL Insurance. CMS and NAL Insurance have partnered to help NAL’s client companies and independent contractors lower costs, reduce risk and ensure compliance, notes a…
Crawford names Global Technical Services leaders
May 3, 2012 by Canadian UnderwriterCrawford & Company (Canada) Inc. has named five adjusters as Global Technical Services (GTSSM) leaders within the areas of commercial property, transportation, environmental and media, entertainment and contingency. “The GTS leaders in each of these groups are experts in their…
Ontario Appeal Court muddies waters regarding homeowner coverage of innocent co-insureds
May 3, 2012 by Canadian UnderwriterThe Court of Appeal for Ontario has issued a ruling that may have muddied the waters concerning homeowner coverage of innocent co-insureds. “There may now be coverage for an innocent co-insured who is alleged to have failed to act to…
Mutuals should handle diversification with caution: Willis Re
May 2, 2012 by Canadian UnderwriterAlthough some mutuals are being encouraged to explore new lines of business or enter new territories, a report from Wills Re cautions this is intrinsically riskier for the insurers, adding that mutuals should ensure any such move is a good…
Creating transparency in the Canadian insurance market
May 2, 2012 by Canadian UnderwriterInsureEye Inc. has introduced an online service intended to enhance transparency and provide consumers with a sneak peek at reviews for home, auto and life insurance. Touted as a first in Canada, the independent and consumer-driven tool was rolled out…
A.M. Best upgrades credit ratings of SCOR SE subsidiaries
May 2, 2012 by Canadian UnderwriterA.M. Best Co. has upgraded its issuer credit ratings (ICR) to ‘a+’ from ‘a’ and affirmed the financial strength rating (FSR) of A (Excellent) of the non-life North American operating subsidiaries of SCOR SE (SCOR) (France). Subsidiaries include SCOR Canada…