Segment
Brokers
Major drop in net income for Economical Insurance in Q1 after severe winter weather
May 7, 2014 by Canadian UnderwriterEconomical Insurance’s first quarter 2014 net income of $1 million declined dramatically over the same period of 2013, when it saw a $26.9 million result. Severe winter weather also caused the Waterloo, Ont.-based insurer’s combined ratio to increase to 105.5%…
IBAO’s telematics subsidiary ‘reached out’ to Alberta auto insurance regulator
May 7, 2014 Greg Meckbach, Associate EditorJASPER, ALTA. — Officials with the Insurance Brokers Association of Ontario (IBAO)’s telematics subsidiary have discussed usage-based auto insurance with the Alberta regulator and are urging Alberta’s brokers to tell carriers that brokers need to have access to policyholders’ telematics…
Harsh weather pushes Intact’s combined ratio up, operating income down in first quarter
May 7, 2014 by Canadian UnderwriterIntact Financial Corporation reports that harsh winter conditions resulted in 4.3 points of catastrophe losses and higher claims frequency, contributing to the combined ratio increasing in 2014 Q1 compared to 2013 Q1. Weather’s impact was also reflected in the insurer’s…
Canadians would rather shovel snow, see the dentist than discuss insurance coverage: TD
May 6, 2014 by Canadian UnderwriterCanadians are generally underestimating certain risks related to their personal insurance, and many would rather take doing boring or unpleasant tasks over thinking about their coverage, notes a new survey from TD Insurance. In its commissioned online survey of 1,000…
One in 10 Canadian customers switch auto insurance carriers: J.D. Power survey
May 6, 2014 by Canadian UnderwriterOne in five Canadian auto insurance customers taking part in the J.D. Power 2014 Canadian Auto Insurance Satisfaction Study have shopped for a new insurer in the past 12 months, but just 9% have made the switch. The study measures…
IBAO announces plans for two upcoming telematics offerings
May 6, 2014 by Canadian UnderwriterIndependent Broker Resources Inc. (IBRI), a subsidiary of the Insurance Brokers Association of Ontario, will introduce two telematics offerings to the industry, IBAO CEO Randy Carroll said in an update issued Tuesday. IBRI will be offering a telematics solutions from…
Alberta brokers advised to meet the person responsible for sewers in their community
May 6, 2014 Greg Meckbach, Associate EditorJASPER, ALTA. — The frequency and severity of some natural disasters will increase and Alberta “has had more than its share” of weather-related catastrophes, but insurance brokers can help prevent future losses by advising homeowners how to adapt, speakers told…
BrokerLink acquires Alberta’s Anthony Clark Insurance Brokers
May 2, 2014 by Canadian UnderwriterProperty and casualty insurance brokerage BrokerLink has announced the acquisition of the ownership position in Anthony Clark Insurance Brokers Ltd (ACI), previously held by Anthony Clark International Insurance Brokers Ltd. “ACI is a natural fit with BrokerLink. Their existing personal insurance…
New Ontario prosecution office to focus on auto insurance fraud
May 1, 2014 Greg Meckbach, Associate EditorThe Ontario government announced Thursday it plans to develop an office dedicated to investigating and prosecuting “serious fraud,” including fraudulent auto insurance claims, to prohibit credit unions from promoting auto and home insurance online and to raise wages for some…
Coincidental Run-in
May 1, 2014 The CIP Society of the Insurance Institute of CanadaWhat if a broker accidentally overhears a personal conversation on the street that is directly related to a client’s decision to cancel a policy? What possible responses are available to the broker, should he or she decide to employ a rules-based, people-based or situation-based approach?
Moves and Views
May 1, 2014 by Canadian Underwriter1 Allied World Assurance Company Holdings AG has opened a branch office in Toronto and named Gord Kerr [1] as its senior vice president, chief agent and branch manager. Prior to joining Allied World, Kerr spent four years as chief…
Probably years before Alberta flood mitigation programs complete
April 30, 2014 Bill Graveland, THE CANADIAN PRESSCALGARY – The Alberta government has narrowed down the flood-prevention projects it will fund after the deluge that devastated the southern part of the province last summer. But Environment Minister Robin Campbell concedes it will be years before all the…