The Co-operators, U.S.-based Home Fire Sprinkler Coalition advocate for fire safety through new partnership
February 23, 2016 by Canadian UnderwriterThe Co-operators Group Limited and the Home Fire Sprinkler Coalition (HFSC) announced a formal partnership on Tuesday to advocate for and promote the installation of home fire sprinklers in new construction of homes in Canada. The HFSC said in a…
Intact Service Centre opens in Calgary, three more set to open across the country
February 22, 2016 by Canadian UnderwriterIntact Financial Corporation (IFC) has announced the launch of Intact Service Centres in Canada, with the first opening in Calgary on Monday. Intact Insurance and belairdirect customers can now enjoy a “new simpler, faster and more convenient auto claims experience,”…
Surveyed Canadians uninformed about flood damage protection: Square One
February 22, 2016 by Canadian UnderwriterTwo-thirds of those taking part in a recent poll by Vancouver-based Square One Insurance Services Inc. incorrectly believe flood protection is included in home insurance policies. The survey of 1,500 Canadians shows that 65% of those surveyed think flood protection…
Ontario partners with Airbnb on new pilot project related to legal rights and responsibilities
February 19, 2016 by Canadian UnderwriterOntario’s Ministry of Finance announced on Friday that the province is partnering with Airbnb to launch a new pilot project to raise awareness about homeowners’ and consumers’ rights and legal responsibilities. San Francisco-based Airbnb is a “community marketplace” for people…
Exceptionally strong El Nio has passed its peak, but impacts continue to influence global climate: World Meteorological Organization
February 19, 2016 by Canadian UnderwriterThe powerful 2015-2016 El Niño has passed its peak but remains strong and will continue to influence the global climate, according to the latest update from the World Meteorological Organization (WMO), a specialized agency of the United Nations. The WMO…
The Co-operators’ net income increases in fourth quarter, full-year 2015; keeping eye on the weather
February 19, 2016 by Canadian UnderwriterThe Co-operators General Insurance Company’s consolidated net income for the fourth quarter of 2015 increased to $103.3 million from $79.7 million in the prior-year quarter. For 2015, consolidated net income again was up, rising to $162.3 million from $137.6 million…
Combined ratio improves 3.7 points for Northbridge Insurance
February 18, 2016 by Canadian UnderwriterToronto-based Northbridge Insurance had a combined ratio of 91.8% in 2015, down 3.7 points from 95.5% in 2014, while net premiums written for OdysseyRe dropped 12.7%, from US$2.4 billion in 2014 to US$2.095 billion in 2015, the carriers’ corporate parent…
Transport Canada uncovers “potentially dangerous defect” in Toyota RAV4 models; recalls 150,000 vehicles
February 18, 2016 by Canadian UnderwriterTransport Canada has issued an immediate recall for nearly 150,000 Toyota RAV4 models, after finding that rear seatbelts may sever in a crash. In a statement on Thursday, Transport Canada said that its research engineers and investigators have uncovered a…
Garneau seeks Senate advice on rules, regs for future of driverless cars
February 18, 2016 Joan Bryden - THE CANADIAN PRESSOTTAWA – Canada’s Senate, often accused of being an anachronism, is being asked to wrestle with the futuristic dream of driverless cars. Transport Minister Marc Garneau wants the Senate’s transportation and communications committee to launch a study of the regulatory,…
More challenging environmental risks may pose insurance coverage issues for Canadian companies: Marsh
February 18, 2016 by Canadian UnderwriterCanadian companies may find it increasingly difficult to obtain insurance coverage for more challenging environmental risks as the number and size of environmental claims continue to grow, according to Marsh’s Canada Insurance Market Report 2016, released on Thursday. Marsh, an…
Net income for Echelon Financial Holdings down 56% to $3.7 million in 2015 Q4 compared to 2014 Q4
February 18, 2016 by Canadian UnderwriterAn underwriting loss in the fourth quarter of 2015 contributed to Echelon Financial Holdings Inc. (EFH) seeing net income drop 56% for both 2015 Q4 and full-year 2015. Net income for the three months ended Dec. 31, 2015 was approximately…
The heat goes on: Earth sets 9th straight monthly record
February 17, 2016 Seth Borenstein - THE ASSOCIATED PRESSWASHINGTON – The January figures are in, and Earth’s string of hottest-months-on-record has now reached nine in a row. But NASA said January stood out: The temperature was above normal by the highest margin of any month on record. And…