Claims
The current regulatory environment is fuelling commoditization of usage-based insurance (UBI) offerings, something that could be at odds with how open consumers are to exploring different options, Colin Wright, principal of Corner 2 Consulting, suggested during a presentation Thursday. “Because of the constraints from the regulator and so on, I think we’re starting to see […]
By Canadian Underwriter | May 30, 2014
4 min read
MOUNTAIN VIEW, Calif. – About four years ago, the Google team trying to develop cars driven by computers – not people – became convinced that sooner than later, the technology would be ready for the masses. There was one big problem: Driverless cars were almost certainly illegal. And yet this week, Google said it wants […]
5 min read
BEIJING – A moderately strong earthquake struck southwestern China near the border with Myanmar on Friday, injuring at least 33 people. Residents fled buildings and students evacuated schools that had already been damaged by a quake in the same area last week. Five of the injured people were in serious condition, said a woman at […]
1 min read
PHILADELPHIA – Forty-one people in Philadelphia are facing charges in what prosecutors call an elaborate insurance fraud scheme that used dead deer to fake car accidents. Ronald Galati Sr. is accused of running a $5 million scam out of his auto body shop. District Attorney Seth Williams said Wednesday that Galati coached customers to claim […]
By Canadian Underwriter | May 29, 2014
It is hoped the latest round of proposed changes to federal nuclear installation requirements – including the call to increase absolute liability for operators to $1 billion and to ratify Canada as a party to a convention on supplementary compensation – will prove a charm. “The existing act is 40 years old,” Jacques Henault, an […]
The Office of the Superintendent of Insurance in Alberta will make its decision on the approval of usage based auto insurance in that province by the end of this year, but is stressing that privacy must be top of mind for insurers who want to launch programs. The office has received several applications for UBI […]
2 min read
Desjardins General Insurance Group Inc. released Thursday some of its financial results for the three months ending March 31, reporting a 3.8-point increase in its combined ratio and a 6% year-over-year increase in direct written premiums, when compared to the first quarter of 2013. When it released its Q1 report earlier this month, Levis, Quebec-based […]
3 min read
DETROIT – The 2014 Chevrolet Impala was the only non-luxury car to earn the highest safety rating in new tests of high-tech crash prevention systems. The Insurance Institute for Highway Safety tested cars equipped with collision warning and automatic braking systems. It gave a “superior” rating to cars that both warned the driver of a […]
WINNIPEG – An unusually large amount of rain has prolonged Manitoba’s flood season, pushing lakes and rivers around the province to record levels. Emergency Measures Minister Steve Ashton said some regions received 200 per cent more precipitation than normal in both April and May – and more rain is forecast. “That is putting pressure on […]
By The Canadian Press | May 29, 2014
SAN JOSE, Calif. – The hackers are winning, according to a survey of 500 executives of U.S. businesses, law enforcement services and government agencies released Wednesday. The 12th annual survey of cybercrime trends found that online attackers determined to break into computers, steal information and interfere with business are more technologically advanced than those trying […]
By Canadian Underwriter | May 28, 2014
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