News
A.M. Best affirms RSA Canada’s financial strength rating of ‘A’
March 12, 2012 by Canadian UnderwriterA.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Royal & Sun Alliance Insurance Company of Canada (RSA Canada), Western Assurance Company and Quebec Assurance Company. These members are together known as RSA Canadian Property/Casualty…
Marsh Canada launches new product for crop and livestock producers
March 12, 2012 by Canadian UnderwriterMarsh Canada, in collaboration with Guy Carpenter and Northbridge General Insurance Corporation, is launching a Whole Farm Cost of Production Insurance solution for crop and livestock producers called AGRI-PLUS. AGRI-PLUS protects producers from insured events that may cause their annual…
Dealing with the media during catastrophes is featured at the June 2012 IMCA conference in Denver
March 12, 2012 by Canadian UnderwriterCommunicating with the media during catastrophe coverage is one among several feature events headlining 2012 Insurance Marketing and Communications Association Annual Conference in Denver on June 24-27. The conference draws marketing and communications insurance professionals from across North America. The…
About 50% of B.C. homeowners have earthquake insurance
March 9, 2012 by Canadian UnderwriterRoughly half of British Columbia homeowners add earthquake insurance to their home insurance policies despite the fact that earthquake insurance is widely available in B.C., reported Square One, a property insurer. Square One says that although many homeowners know they…
Mild weather in Ontario leads to 23% decline in auto collision frequency
March 9, 2012 by Canadian UnderwriterThe mild winter weather has resulted in a 23% decline in the number of collisions when compared to last year, the Toronto Star reported on Mar. 9. Between November 2011 and February 2012, there were 17,411 collisions compared to 22,680…
Start of daylight savings time an lead to crash risk: ICBC survey
March 9, 2012 by Canadian UnderwriterThe start of daylight savings time leaves B.C. drivers feeling less alert and a little more bleary, according to an ICBC survey. According to the survey, 34% of drivers said the time shift does affect them and make them feel…
Moderate earthquakes hit near Honshu, Japan
March 9, 2012 by Canadian UnderwriterTwo moderate earthquakes — one a Magnitude 5.4 and the second, about an hour later, a 5.1 — hit near the east coast of Honshu Japan on Mar. 9. The area is near where the Magnitude 9 Tohoku earthquake and…
Insurance Council of Australia declares catastrophes in flood-ravaged areas
March 9, 2012 by Canadian UnderwriterThe Insurance Council of Australia (ICA) has declared a catastrophe for New South Wales and Victorian flood zones covering the NSW Riverina, NSW Central West and northern Victoria. The council reported on Mar. 9 that so far there have been…
Canadian companies falling behind global counterparts on some information security initiatives: PwC report
March 9, 2012 by Canadian UnderwriterCanadian companies are on par with the global average in their adoption of mobile and social media, and they are above average at not reducing their information security-related budgets, but they fall behind in a number of other information security…
Ontario politicians introduce two new auto insurance private members’ bills
March 8, 2012 by Canadian UnderwriterOntario politicians introduced two new private member’s bills into the legislature on Mar. 7: one would make it easier to report auto insurance fraud, and the other would eliminate the ability of insurers to rate auto insurance based on addresses…
Solar storm causes minor geomagnetic storm on Earth: NASA
March 8, 2012 by Canadian UnderwriterA solar storm, associated with two major solar flares on Mar. 6, has caused instruments to measure changes in Earth’s magnetic fields, indicating the onset of a geomagnetic storm, according to NASA. As of press time, NASA classified the geomagnetic…
RSA introduces web-based portal, e-Boiler, to streamline broker processes for small business accounts
March 8, 2012 by Canadian UnderwriterRSA’s Equipment Breakdown Insurance (EBI) division announced on Mar. 7 the implementation of e-Boiler, a web-based portal designed to streamline broker partners’ processes for handling small business accounts. “The program is unique in that it is fully customizable and empowers…