Segment
Brokers
Ontario Liberals to reintroduce budget, IBAO calls for bills reforming auto claims, towing
June 13, 2014 Greg Meckbach, Associate EditorNow that the Ontario Liberals have a majority government, they reportedly plan to re-table a budget in which they proposed to prohibit credit unions from promoting auto and home insurance online and to develop an office dedicated to investigating and…
FSCO inviting insurers, law firms to register for new dispute resolution portal
June 12, 2014 by Canadian UnderwriterThe Financial Services Commission of Ontario has announced that the registration for access to its new dispute resolution services portal is now available for insurance companies and law firms. The pilot phase for use of the portal is set to…
Flooding concerns rising in parts of rural Manitoba due to heavier rainfall
June 12, 2014 THE CANADIAN PRESSWINNIPEG – Spring flooding concerns are rising in some areas of rural Manitoba thanks to heavier than normal rainfall since early April. That means farmers in some southwestern communities will not be able to seed their usual crops this year.…
Saskatchewan rate panel recommends smaller increase than Auto Fund proposal
June 12, 2014 by Canadian UnderwriterThe Saskatchewan Rate Review Panel (SRRP) is recommending a 4.4% overall average increase to Saskatchewan Auto Fund vehicle insurance rates, less than the 5.2% hike proposed in the application from Saskatchewan Government Insurance (SGI). “The panel’s recommendations are based on…
U.K. motor insurance market turns first underwriting profit in 20 years
June 11, 2014 by Canadian UnderwriterThe United Kingdom’s motor insurance industry achieved a profit in 2013 – the first in two decades – expected to post a net combined ratio (NCR) of 98.5%, Ernst & Young noted in an update Tuesday. Analysis of the year-end…
AIG CEO to step down, be replaced by P&C head
June 11, 2014 by Canadian UnderwriterAmerican International Group Inc. announced Tuesday that its executive vice president, Peter Hancock, will replace Robert Benmosche as president and chief executive officer, effective Sept. 1. On Sept. 1, Benmosche “is expected to resign from the AIG Board of Directors…
Aspen Insurance to ‘carefully review’ takeover offer by Endurance
June 9, 2014 by Canadian UnderwriterAspen Insurance Holdings Ltd., whose British subsidiary writes insurance in Canada, announced Monday it is advising its shareholders to “take no action at this time” on a US$3.2-billion takeover offer by Endurance Specialty Holdings Ltd. Hamilton, Bermuda-based Aspen provides primary…
Twisters in Colorado cause minor injury, property damage
June 9, 2014 Sadie Gurman, THE ASSOCIATED PRESSAURORA, Colo. – Several tornadoes touched down as a line of severe thunderstorms swept through Colorado, with one of the twisters hitting near a junior golf tournament and injuring a caddy and others causing property damage, officials said. Six of…
Peace Hills Insurance head Diane Brickner set to retire
June 9, 2014 by Canadian UnderwriterPeace Hills Insurance has announced that its president and CEO, Diane Brickner, will be retiring, and will be succeeded by Gene Paulsen as of Jan. 1, 2015. Brickner has worked with Peace Hills since its inception in 1982. She was…
Alberta government has provided more than $191 million in disaster assistance since 2013 floods
June 9, 2014 by Canadian UnderwriterThe Alberta government reports that it has provided more than $191 million to date in disaster assistance to municipalities and First Nations to begin rebuilding in the wake of last June’s devastating flooding, a event that has since become the…
Homeowners in Canada filing more insurance claims for storm damage: J.D. Power
June 6, 2014 by Canadian UnderwriterYear over year, the number of weather-related insurance claims in Canada has increased by 32%, notes the latest edition of the annual J.D. Power 2014 Canadian Home Insurance Study. Released Thursday, the annual study examines customer satisfaction with their homeowners…
FSCO issues two consumer warnings of unlicensed insurance activity
June 6, 2014 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has issued two separate warnings related to unlicensed insurance activity in the province. The regulator first warned that an individual going by Frank Domalewski is not licensed to do insurance business in Ontario. “This individual appears to…