News

The Financial Services Commission of Ontario (FSCO) is warning consumers that Freedom Insurance Company is not licensed to do insurance business in Ontario.“If consumers purchase insurance from insurers that are not licensed in the province, they are not protected under…

Motorists affected by a heavy cold or flu suffer a major loss of concentration when behind the wheel, putting themselves and users at risk, according to research by U.K. insurer Young Marmalade.Young Marmalade carried out the research in association with…

Experts in the U.S. property and casualty industry believe the worst of the financial crisis is over and that the industry is now in the early stages of a hard market, reported the Insurance Information Institute (III).The III surveyed 40…

The global re/insurance industry is realizing the emerging volatility of “cold spots” – exposures that surprised insurers in 2011 because they were not considered to be risky areas in the past.Reinsurance industry Guy Carpenter flagged the emerging theme of “cold…

What if social networks such as Facebook, Myspace or Google+ were to become an insurance channel unto themselves in the next two years?Juergen Weiss, a research director at Gartner, a technology research firm, said this kind of development could be…

Perceived socio-economic global risks surpassed environmental risks when experts and industry leaders from around the world were asked to rank the most pressing risks of the coming decade, according to the World Economic Forum’s Global Risks 2012.Based on a survey…

National Brokers Insurance Services Inc. has received certification from WEConnect Canada.WEConnect Canada certifies businesses that are at least 51% owned, managed and controlled by women. It connects them with the growing corporate and public sector demand for diverse supplies, a…

The 2011 Operation Red Nose (ORN) program in Ontario saw an increase of more than 15% in the total number of kilometres driven over 2010. And yet, there were zero collisions, zero injuries and zero fatalities in all participating areas…

Ernst & Young has identified five strategies that U.S. property and casualty insurers need to explore in 2012 to improve their chances of success.“A low premium growth environment is expected to persist through 2012, adversely affecting insurer profitability and resulting…

Insured losses rising from natural catastrophes in 2011 were more than 280% higher than insured losses seen in 2010, Aon Benfield reported in its annual catastrophe study. The report, published by Impact Forecasting, shows 253 separate events generated a record…

The estate of a pilot who died when he accidentally crashed his aircraft cannot collect insurance because the deceased pilot’s medical certificate had expired more than a year before the accident, the Alberta Appeal Court has ruled.The deceased pilot’s insurance…

Lloyd’s managing general agent CFC Underwriting has launched a new cyber liability wording to cover the risks of storing data “in the cloud.” A technology and cyber liability specialist, CFC says it has identified a gap in cover for firms…