Segment
Brokers
True Believer
September 1, 2012 Angela Stelmakowich, EditorStephen Halsall, the incoming president of the Insurance Brokers Association of Canada, has his sights on a familiar road ahead.
Oil tank spills lead to $78.58 million in claims: IBC
August 31, 2012 by Canadian UnderwriterAn Insurance Bureau of Canada (IBC) study on oil tank spills in Atlantic Canada shows the events prompted $78.58 million in claims for participating insurance companies from 2008 through 2011. In all, there were 663 domestic oil spill insurance claims…
The “price is wrong” for Ontario auto insurance: IBC
August 30, 2012 by Canadian UnderwriterInsurance Bureau of Canada (IBC)’s public awareness campaign on Ontario auto insurance has listened to disgruntled consumers and now aims to promote understanding of the reasons behind stubbornly high rates. “We wanted to find out what Ontarians were thinking about…
IBAC complains RBC is defying federal regulations
August 27, 2012 by Canadian UnderwriterThe Insurance Brokers Association of Canada (IBAC) has taken aim at the country’s largest bank, arguing in a letter to the Office of the Superintendent of Financial Institutions (OSFI) that RBC is flouting federal rules by allowing its insurance arm…
Crawford & Company (Canada) names Nancy Toso branch manager in Calgary
August 27, 2012 by Canadian UnderwriterNancy Toso has been appointed as the new branch manager for Crawford & Company (Canada) Inc.’s office in Calgary, Alberta. With the company since 2006, Toso has held positions as a casualty specialist, a general adjuster with the global technical…
Searching risk appetite by line of insurance, industry
August 27, 2012 by Canadian UnderwriterRiskRadius has introduced what it calls the industry’s first dynamic risk appetite search engine to help insurance brokers and agents find the best match for their clients’ needs. Using proprietary software on a secured platform, brokers can search the dynamic…
Economical Insurance’s 2012 Q2 results support positioning for demutualization
August 24, 2012 by Canadian UnderwriterEconomical Insurance’s financial numbers for the second quarter of 2012 show that the company is continuing to deliver strong profitable results and is well-positioned for a successful demutualization, suggests Karen Gavan, president and CEO of the company. Economical has maintained…
Willis says market for airline insurance “favours the buyers”
August 24, 2012 by Canadian UnderwriterThe airline insurance market has shrunk in premium volume in 2012 as the industry’s positive loss record continues to exert downward pressure on rates, notes a recent report from Willis. The report, which covers renewals in June and July, states…
Drought conditions could cause insurance loss of $5 billion: S&P
August 22, 2012 by Canadian UnderwriterInsured crop losses in the United States will cost insurers and reinsurers more than $5 billion, notes a new report from Standard & Poor’s. “Farmers in the most affected states are expecting one of their worst harvests since the drought…
New business upload to improve efficiencies for Lambton Mutual, brokers
August 22, 2012 by Canadian UnderwriterLambton Mutual is implementing automated new business upload for automobile and habitational policies, a functionality expected to provide significant efficiency gains for both the company and its brokers. Part of Lambton’s efforts to streamline the new business submission process, the…
U.S. can expect hurricane loss of $10 billion once every four years
August 21, 2012 by Canadian UnderwriterTwenty-eight hurricanes that wreaked havoc on the United States in years past would likely produce insured losses reaching or exceeding $10 billion if they struck today, suggests a new study by Karen Clark & Company (KCC). The research concludes the…
Federal government funds flood prevention measures
August 17, 2012 by Canadian UnderwriterA new national program designed to reduce the impact of natural disasters is providing money to provinces that invest in flood-mitigation strategies. Manitoba, Saskatchewan and Quebec will initially receive funding from the program, which is a three-year, $99.2-million commitment from…