News

Soft U.S. commercial insurance market conditions are expected to persist through 2010 Q4, Marsh reported.So far in 2010 Q4, Marsh clients renewing their programs have experienced average rate reductions across all major lines of business compared to 2009 Q4. Marsh’s…

U.S. insurers are starting to see expense ratios – a ratio that has remained consistent over the past four decades – creep upwards, putting greater pressure on profit margins, Fitch Ratings warned in a recent report. Expense management has taken…

The Institute for Catastrophic Loss Reduction (ICLR) and Swiss Re are calling on Canadian property insurers to bundle flood insurance into a standard homeowner policy.In a joint report, Making Flood Insurable for Canadian Homeowners, ICLR and Swiss Re advocate a…

Manitoba Public Insurance (MPI), in partnership with Snoman Inc. and the Insurance Brokers Association of Manitoba (IBAM), has given the province’s snowmobilers more payment options to purchase their Snopasses. Snowmobilers require a valid Snopass to travel legally on Snoman’s groomed…

The CUMIS Group Limited raised more than $92,000 through its annual United Way campaign this fall.The donation maintains CUMIS’ 19-year platinum sponsor status with the United Way.The funds were raised through pledges by individuals, numerous events, contests and raffles held…

The Government of Newfoundland and Labrador has recently enacted its new impaired and distracted driving laws.The legislative changes authorize police to use traffic safety stops as a means of determining whether drivers are impaired, driving while suspended or driving without…

Barbara Bellissimo, vice president and chief agent of State Farm in Canada, is being profiled in an online campaign to promote the importance of mentoring youth. ‘Who’s Your Mentor?’ was created by kids.now, a group mentoring charity, and is scheduled…

Canadian governments and public auto insurers encouraged safe driving habits in honour of the third annual National Day of Remembrance for Road Crash Victims on Nov. 17. “Observing this day helps raise awareness of the almost 2,800 road users who…

The B.C. Supreme Court has upheld a “pollution exclusion” in a residential property damage case, in which an above-ground storage tank for home-heating fuel oil leaked and damaged the insured’s vacation home.In Corbould v. BCAA Insurance Corporation, the insured’s property…

The municipality of Leamington is seeking funds from the provincial government to cover a $1-million shortfall to repair damages and cleanup as a result of the tornado that tore through the area in June 2010.The estimated gross cost to the…

A British Columbia Supreme Court decision in January 2010 has reaffirmed the validity of amending the fundamental terms of a marine insurance contract by an endorsement, according to an article published by Borden Ladner Gervais LLP.In the article, Beware of…

Duck Creek Technologies Inc. received a positive rating in the recent Gartner MarketScope for North American property and casualty insurance policy management modules. Duck Creek provides policy administration, product configuration and definition, billing and rating for the property and casualty…