Segment
Brokers
Auto insurers urge holiday season refresher as young drivers return home
December 6, 2013 David Friend - THE CANADIAN PRESSTORONTO – It’s the time of year when students return home from school to celebrate the holidays with their families and start the negotiations to borrow their parents’ car. But insurance companies say both parents and young adults should consider…
Revenue, earnings growth for U.S. brokers likely to improve modestly in 2014: Fitch
December 6, 2013 by Canadian UnderwriterInsurance brokers in the United States will likely see a modest improvement in their revenue and earnings growth for 2014 over levels for the first nine months of this year, according to a new outlook report from Fitch Ratings. The…
MADD Canada criticizes Ontario auto insurance law on 15% rate reduction
December 6, 2013 by Canadian UnderwriterThe Ontario government “needs to reassess its approach” to auto insurance because the mandated 15% reduction in premiums “will award the biggest cost savings to bad drivers, including impaired drivers,” according to MADD Canada. Last August, the Ontario Ministry of…
New Brunswick’s consolidated financial services commission gets new chair
December 3, 2013 by Canadian UnderwriterNew Brunswick has named a new chair for its recently-created Financial and Consumer Services Commission. Peter Klohn of Saint John will being his five-year appointment beginning Jan. 1. The commission, which began operating in July, consolidated the regulatory authorities for…
Network fighting auto theft expands in Atlantic Canada
December 3, 2013 by Canadian UnderwriterThe Provincial Auto Theft Network (PATNET) program, which works to fight auto theft in New Brunswick and Nova Scotia, has expanded to Prince Edward Island, the Insurance Bureau of Canada announced Tuesday. The program’s launch in Summerside, PEI will include…
Unica Insurance now offering eDocs solution for brokers
December 3, 2013 by Canadian UnderwriterUnica Insurance has announced that its eDocs solution using XML standards from the Centre for Study of Insurance Operations (CSIO) is live and immediately available for all brokers. The offering provides electronic declaration pages for brokers using any broker management…
More independent brokers developing specializations, investing in tech: report
December 2, 2013 by Canadian UnderwriterIndependent agencies and brokerages in the United States are increasing their specializations and planning to make more investments in technology for the coming year, according to a recent report from a major industry association. The Independent Insurance Agents & Brokers…
Canadian insurance regulators launch new database of disciplinary actions
December 2, 2013 by Canadian UnderwriterA new database will allow the public and insurance industry participants to access the names of people and firms disciplined by the various regulators in Canada. The Canadian Insurance Regulators Disciplinary Actions (CIRDA) database includes public actions taken since 2008…
Three Atlantic Canada companies merge to create larger commercial insurance brokerage
December 2, 2013 by Canadian UnderwriterBell & Grant Insurance Limited and Assurance Goguen Champlain – the former having 124 years of experience and the latter opening its doors in 1915 – will merge with Fraser & Hoyt Insurance (2011) Inc. to create the leading commercial…
Moves and Views
December 1, 2013 by Canadian Underwriter1 The Travelers Companies Inc. has completed its acquisition of The Dominion of Canada General Insurance Company from E-L Financial Corporation Ltd. The combined organization, which will be referred to as Travelers Canada, will remain headquartered in Toronto, Travelers Companies…
No Vacancy?
November 30, 2013 Mark M. Skorah, senior partner, Guild Yule LLPHow one case addressed the issue of reduced occupancy and material change.
Regulators release final paper on electronic commerce
November 30, 2013 byThe Canadian Council of Insurance Regulators has released its final position paper on the use of electronic commerce in insurance products, stressing the need for consumers to have access to more information on their coverage. The CCIR began its look…