Segment
Brokers
Opposition politicians criticize Ontario government proposal to reform auto insurance dispute resolution system
March 28, 2014 by Canadian UnderwriterOntario politicians from both the Progressive Conservative and New Democratic Party suggested this week will not stop the ruling minority Liberals’ latest auto insurance bill from going to committee, but the opposition is expressing strong reservations about the proposed changes…
Automated vehicles would require rethinking assessment models: Swiss Re Canada CEO
March 28, 2014 Angela Stelmakowich, EditorThe move toward increasingly automated vehicles demands that the insurance industry adjust its thinking and models which currently assess the driver more than the vehicle, Sharon Ludlow, president and CEO of Swiss Re in Canada, suggested during a presentation in…
Weather hits insurance industry hard in 2013, signs of economic resurgence
March 27, 2014 Angela Stelmakowich, EditorA turn in the weather last year proved enough to undermine the performance of the insurance industry, Gregor Robinson, senior vice president of policy and chief economist for the Insurance Bureau of Canada (IBC), said during Swiss Re’s 29th Annual…
Fewer than 1 in 3 policy admin system transformations ‘meet the traditional definition of success’ for insurers
March 27, 2014 by Canadian UnderwriterTechnological change and new regulatory proposals outside of Canada are among the top issues for the insurance industry this year, PwC said in a new report released Thursday. In its report, dubbed Top Issues: The Insurance Industry in 2014, PwC…
Insurance M&A activity on the rise: Towers Watson
March 27, 2014 by Canadian UnderwriterMerger and acquisition activity in the North American insurance market looks to be on the rise over the next few years, according to a new survey from professional services firm Towers Watson. In a survey of insurance executives, 85% said…
The Co-operators launches insurance for higher-value homes
March 26, 2014 by Canadian UnderwriterThe Co-operators has introduced a new insurance solution that provides appropriate coverage, policy enhancements and extras to properly insure valuable homes, including their contents, customizations and special features. Recognizing the unique insurance needs of higher-value homes in Canada, Prestige Plus…
Intact launches new campaign focused on 30-minute claims service guarantee
March 26, 2014 by Canadian UnderwriterIntact Insurance has launched a new national television and online campaign geared to consumers, promoting its 30 Minute Claims Service Guarantee. The campaign, which includes television commercials and online ads, is meant to respond to Canadians’ desire for responsive customer…
New Toronto-based commercial broker targeting GTA organizations
March 25, 2014 by Canadian UnderwriterAligned Insurance Inc., a commercial broker based in downtown Toronto, officially launched operations in Ontario March 25. Led by president and chief executive officer Andrew Clark, Aligned is currently targeting small, medium and large organizations in and around the Greater…
Ironshore increases capacity for energy sector risks
March 25, 2014 by Canadian UnderwriterIronshore Energy Property will increase capacity to $25 million for energy risks throughout its global platform. The move is in response to a rapidly expanding energy sector and the company’s increased commitment to the sector through the recent formation of…
More than half of all home insurance claims last year from water damage: Aviva Canada
March 25, 2014 by Canadian UnderwriterMore than half of all home insurance claims last year involved water damage, an water damage claims payouts rose 69% over 2012, Aviva Canada said Tuesday. “With last year’s storms, water damage reached an all time high making up 51%…
No easy fix on flood insurance, but experts say options exist to improve U.S. program
March 25, 2014 David B. Caruso, THE ASSOCIATED PRESSNEW YORK – There’s no easy fix for the National Flood Insurance Program, now drowning in a $24 billion sea of red ink. But experts and advocates say Congress does have some options that could make the troubled program financially…
Economical Insurance and Federation Insurance will discontinue writing insurance in Newfoundland and Labrador
March 24, 2014 by Canadian UnderwriterLimited opportunities for profitable growth combined with a challenging regulatory environment were key considerations in Economical Insurance’s decision to stop writing insurance in Newfoundland and Labrador, the company has announced. In a statement Friday, Waterloo, Ont.-based Economical announced that its…