Segment
Brokers
Google to build a self driving car prototype with no steering wheel; will not be sold publicly
May 28, 2014 Justin Pritchard - THE ASSOCIATED PRESSLOS ANGELES – Google will build a car without a steering wheel. It doesn’t need one because it drives itself. The two-seater won’t be sold publicly, but Google said Tuesday it hopes by this time next year, 100 prototypes will…
Swiss Re Canada head Sharon Ludlow moves to Aviva Canada
May 27, 2014 by Canadian UnderwriterAviva Canada announced Tuesday that Sharon Ludlow will join the insurer as president of Aviva Insurance Company of Canada, effective June 17, moving on from her role as president and CEO of Swiss Re Canada. In the newly-created role, Ludlow will…
Severe weather, business growth drive increase in insurance claims at TD
May 26, 2014 by Canadian UnderwriterThe Toronto-Dominion Bank released last week its financial results for the quarter ending April 30, reporting total insurance revenues – including home, auto, travel, life and health – of $936 million, up 3.65% from $903 million in the same period…
Ontario updates attendant care rates payable under auto insurance policies
May 23, 2014 by Canadian UnderwriterThe Financial Services Commission of Ontario is revising the hourly rate guideline for attendant care benefits in the province’s standard auto insurance policy, raising the amount payable for “basic supervisory functions” to $11 an hour, for accidents that occur on…
Fire Underwriters Survey launches new Canadian Fire Insurance Grading Index version
May 23, 2014 by Canadian UnderwriterFire Underwriters Survey, operated by Opta Information Intelligence, will be releasing a new online system for its Canadian Fire Insurance Grading Index. Version 2.0 will be available May 25 through the iClarify property valuation tool from Opta, at no additional…
The Dominion Insurance ‘benefited greatly’ from acquisition by Travelers: A.M. Best
May 23, 2014 by Canadian UnderwriterA.M. Best Company Inc. announced Friday it has assigned an “excellent” financial strength rating to The Dominion of Canada General Insurance Company, based mainly on the recent acquisition by The Travelers Companies Inc. That rating is “partially offset” by “legacy…
Ontario NDP says it would deliver 15% auto insurance rate decrease in first year
May 22, 2014 by Canadian UnderwriterOntario NDP Leader Andrea Horwath launched her party’s platform Thursday, saying her government would deliver a 15% reduction for auto insurance rates in its first year. “A year after the Liberals agreed to a 15% reduction, few Ontario drivers have…
New videos show common staged accident methods used for insurance fraud
May 22, 2014 by Canadian UnderwriterThe National Insurance Crime Bureau in the United States, along with the Los Angeles Police Department, has produced several new videos to show the most common methods of staging vehicle accidents used to defraud insurance companies. “These staged accidents are…
U.S. P&C insurance industry had first full year of underwriting profit last year since 2007: Swiss Re
May 21, 2014 by Canadian UnderwriterThe United States property and casualty insurance industry recorded an underwriting profit in 2013 for the first time since 2007, while inland marine premiums in 2013 were up 9.4% over 2012 and catastrophe losses during the fourth quarter of 2013…
Munich Re predicts primary P&C insurance growth will ‘ease off’ in North America in 2015
May 20, 2014 by Canadian UnderwriterReal growth in the worldwide primary property and casualty insurance is expected to pick up this year and in 2015, while Canada is expected to remain the ninth largest market in 2020, Munich Re projected in a report announced Tuesday.…
Arthur J. Gallagher signs agreement to acquire broker network Noraxis
May 20, 2014 by Canadian UnderwriterArthur J. Gallagher & Co. has signed a $422-million agreement to acquire Noraxis Capital Corporation – a Canadian insurance broker network that provides retail commercial, personal and employee benefits insurance products and services – that, if approved, will leave the…
SGI postpones decision on head office relocation
May 16, 2014 by Canadian UnderwriterSaskatchewan Government Insurance (SGI) announced Thursday it is not proceeding with a contract to move its head office from its current location in Regina for the time being. In a press release, the carrier said it has cancelled a request…