News

Core underwriting results of the U.S. property and casualty insurance industry are expected to deteriorate in 2011, with net income dropping 30% and industry return on surplus sinking to 4.9%, Fitch reported.In its 2011 outlook, Fitch made the following projections:…

Next year will likely see nine hurricanes in the Atlantic basin, five of which will be major, predicted scientists at Colorado State University.“We foresee an above-average Atlantic basin tropical cyclone season in 2011 and anticipate an above-average probability of U.S.…

Drivers seeking auto insurance in Manitoba, Saskatchewan, and British Columbia are confronted with limited choice, uncompetitive rates, and some of the most highly regulated markets in all North America, according to a new study released by the Fraser Institute.“B.C., Saskatchewan,…

Greg Thierman, branch manager of Crawford & Company (Canada) Inc.’s Kelowna, B.C. branch, is a recipient of the CIP Society’s 2010 Established Leadership Award. The award recognizes individuals who have shown exceptional leadership abilities and a strong commitment to upholding…

To make staged collisions appear more authentic, fraudsters are increasingly involving innocent drivers, warns The Co-operators.Common tactics that authorities have identified include: target and bullet: staged collisions in which an unsuspecting car is hit intentionally; swoop and squat: a driver…

Marsh Canada and TreoScope Technologies have launched an insurance program for liquor-serving venues, including nightclubs, bars and pubs. The TreoScope Insurance Program is available exclusively through Marsh Canada for current or future clients who adopt TreoScope’s EnterSafe software. Participants in…

Nearly half of large Canadian companies say employees have attempted to defraud their organization, according to a SAS/Leger Marketing survey.SAS/Leger Marketing polled more than 1,000 Canadian executives earlier this year. It found 48% of large companies have faced fraud attempts…

Canada’s commissioner of the environment and sustainable development has criticized the federal government for not showing sustained leadership or responding in a coordinated way to the risks associated with climate change.Also in his 2010 Fall Report, commissioner Scott Vaughan calls…

Manitoba is launching a pilot project offering mediation to Manitobans who disagree with Personal Injury Protection Plan (PIPP) decisions by Manitoba Public Insurance (MPI).The mediation pilot office will use independent, qualified mediators and operate over a two-year period. Data collected…

Nearly 30% of Ontarians admitted to driving while under the influence “at least once” in the past year, according to CAA’s Traffic Safety Culture survey.CAA surveyed 2,000 Canadians, 600 of which were from Ontario.The survey found 27% of Ontarians questioned…

Swiss Re sees continued global economic expansion in 2011, but warns a risk remains a global economic recovery will be derailed by renewed financial market turmoil.This could potentially result in a hardening property and casualty insurance market in 2012, Swiss…

For the purpose of calculating income replacement benefits, there is a difference between “poor record keepers,” who fail to document income properly, and a First Nations person working at a store on a reserve, where there is no legal obligation…