Segment
Claims
EGI witnesses improved results in Q1 2012
May 10, 2012 by Canadian UnderwriterEGI Financial Holdings Inc.’s net income for Q1 2012 rose 25% over the same period in 2011, largely in response to the numbers of written premiums and investment income. The company witnessed a 42% increase in written premiums in Q1 2012…
B.C.’s auto insurer commits to consulting with brokers about risk-based pricing
May 10, 2012 by Canadian UnderwriterBritish Columbia’s public auto insurer, the Insurance Corporation of B.C. (ICBC), has committed to consulting with the province’s brokers about a proposed shift to risk-based auto insurance pricing. The move represents one peg of ICBC’s much broader plan to modernize…
Safety advances could spell end of auto insurance: Celent
May 10, 2012 by Canadian UnderwriterThe auto insurance industry may suffer a steep decline if technology that reduces the frequency and severity of car accidents is widely adopted, concludes a new study by research firm Celent. The research points to four specific types of technology…
Nova Scotia brokers want to put the onus on oil companies for oil tank maintenance, replacement
May 10, 2012 by Canadian UnderwriterNova Scotia brokers are tired of playing the role of a “regulator” when it comes to policyholders’ oil tanks, and want oil companies to assume responsibility for properly maintaining the tanks. “We seem to be the regulator,” Richard Bishop, president…
Regulation details new classes of insurance in New Brunswick
May 9, 2012 by Canadian UnderwriterA regulation has been added to New Brunswick’s Insurance Act that spells out new classes, including legal expense insurance, a relatively new form of insurance in Canada. The Classes of Insurance Regulation – Insurance Act, filed on April 24, details the…
Chubb offers enhanced watercraft policy
May 9, 2012 by Canadian UnderwriterChubb Insurance Company of Canada has launched an enhanced watercraft policy. The policy includes a new discount, improved deductible options, expanded navigational coverage, travel-sized certificates of insurance and greater damage coverage. The enhanced policy provides a 5% discount if the…
David Horner joins Kernaghan Adjusters
May 9, 2012 by Canadian UnderwriterDavid Horner has joined the Kernaghan Adjusters’ team in Edmonton. Horner began his insurance career in 1978 as a claims representative with a large multi-line insurer. Shortly thereafter, he became a roads adjuster, handling auto, bodily injury, property and fire…
Ontario court denies bid to use new summary judgment rules to determine “catastrophic impairment”
May 9, 2012 by Canadian UnderwriterThe Ontario Superior Court has derailed a plaintiff’s bid to obtain under new provincial rules for summary judgment a declaration that she suffered a “catastrophic impairment.” Nancy Stewart was severely injured in a motor vehicle accident on Nov. 4, 2005.…
Heavy truck fleet to be equipped with protective guards
May 8, 2012 by Canadian UnderwriterSaint-Laurent, a Montreal borough, has become the first in the city to start modifying its fleet of heavy vehicles to help prevent the possibility of pedestrians and cyclists from accidentally falling underneath. The fleet will be equipped with lateral protection…
Colorado State researchers predict fewer hurricanes in 2012 season
May 8, 2012 by Canadian UnderwriterThe 2012 Atlantic basin hurricane season will see reduced activity compared to the 1981-2010 average, the Tropical Meteorological Project of Colorado State University predicts. In a report released in April, Colorado researchers estimate there will be 10 named storms during…
10 habits of highly ineffective drivers
May 8, 2012 by Canadian UnderwriterSympatico.ca Autos is counselling drivers to cure themselves of 10 bad habits that frequently lead to vehicle collisions. These bad habits are as follows: Holding the wheel incorrectly. For example, the wheel should not be held with the wrist draped…
Insurers should prepare for the rise of the emerging global middle class
May 7, 2012 by Canadian UnderwriterA huge market for personal insurance — perhaps as much as 1 billion people — is about to emerge in developing countries, and this new global middle class will need to learn all about insurance. The global growth and transformation of the…