Segment
Claims
Crop losses in the U.S. will result in “substantial” losses: Moody’s
August 29, 2012 by Canadian UnderwriterThe massive drought parching the U.S. Midwest is likely to result in substantial gross insured losses for crop insurers and reinsurers and possibly their first overall loss in 10 years, Moody’s Investors Service notes in a recent profile of the…
XL Group’s reinsurance operations appoints Tim Fisher as Canadian branch manager
August 29, 2012 by Canadian UnderwriterXL Group plc’s reinsurance operations in Bermuda recently announced the appointment of Tim Fisher as senior vice president and Canadian branch manager. Fisher, who has more than 25 years of experience in the reinsurance industry, will be responsible for leading…
FirstOnSite mobilizes to respond to U.S. Gulf Coast
August 28, 2012 by Canadian UnderwriterFirstOnSite Restoration has mobilized to the Gulf Coast in the United States to respond to Tropical Storm Isaac. A central command centre has been established in Meridian, Mississippi to manage the response, notes a statement from FirstOnSite, an independent emergency…
Canadian p&c insurers bolster results in first half of 2012
August 28, 2012 by Canadian UnderwriterFederally regulated property and casualty insurers in Canada reported improved financial results for the first half of 2012, posting a collective quarterly profit of $1.52 billion as opposed to $1.09 billion for the same period last year. Figures from the…
Recent Ontario thunderstorms cause $80 million in insured damages
August 28, 2012 by Canadian UnderwriterA band of powerful thunderstorms that hit parts of Ontario stretching from Hamilton to Ottawa over two days in July has resulted in an estimated $80 million in insured damages. The preliminary estimate is being reported by Property Claim Services…
Majority of U.S. teens support stronger fines for texting while driving
August 28, 2012 by Canadian UnderwriterAlmost 80% of polled teenage drivers in the United States say stronger fines and law enforcement would help deter texting while driving, notes a new survey. The State Farm/Harris interactive telephone survey, conducted from July 24 to 30, involved 650…
U.S. Department of Transportation tests out “talking” cars
August 28, 2012 by Canadian UnderwriterThe United States government and the University of Michigan are equipping 3,000 cars, trucks and buses in Ann Arbor, Michigan with wireless devices that will allow the vehicles to alert drivers to speed, location and traffic congestion. Fitted with connected…
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…
Isaac projected to hit several U.S. southeastern states
August 27, 2012 by Canadian UnderwriterForecasters at the National Hurricane Center in the United States have issued a hurricane watch that extends from Louisiana to the Florida Panhandle for Tropical Storm Isaac. The storm, which had reached the Florida Keys by late Aug. 26, is…
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…
TD Insurance sheds U.S. operations
August 27, 2012 by Canadian UnderwriterTD Bank has sold its U.S. insurance subsidiary to USI Insurance Services, a middle-market brokerage firm owned by Goldman Sachs Capital Partners, for an undisclosed amount. TD Insurance Inc. is one of the largest bank-owned insurance agencies and brokerage firms…
Woman falling on ice outside vehicle not an “accident”: FSCO delegate
August 24, 2012 by Canadian UnderwriterA woman who slipped on ice after exiting her car is not eligible for auto accident benefits in Ontario because the incident does not constitute an “accident” under insurance regulations, a director’s delegate of the Financial Services Commission of Ontario…