Claims
The Insurance Bureau of Canada has launched a database of vehicles that have been reported and branded as non-repairable after severe flooding in southern Alberta and the Greater Toronto Area. Consumers can enter a vehicle identification number (VIN) on the IBC website to check whether a vehicle has been branded as non-repairable following the storms […]
By Canadian Underwriter | August 6, 2013
1 min read
What someone is listening to while driving may have an impact on their behaviours, from collisions to speeding tickets, notes a new survey from insurance quote comparison website Kanetix. Music genre isn’t the only element that might be having an impact on speed, suggests the study, based on an online survey of about 1000 Canadian […]
By Canadian Underwriter | August 2, 2013
2 min read
Allianz Group has reported a 6.3% increase in its revenues for the second quarter of the year over the same period of 2012, and an operating profit of 2.4 billion euros, up just over 5% from Q2 last year. For the second quarter of 2013, the company reported revenues of 26.8 billion euros, compared with […]
SCOR has reported gross written premiums of 4.98 billion euros for the first half of the year, which it says was driven by “very healthy” property and casualty renewals and business growth in Asia and Latin America. Its net income stands at 189 million euros, compared to 206 million euros in the first half 2012. […]
American International Group (AIG) Inc. reported Thursday its financial results for the quarter ending June 30, reporting a slight increase in the combined ratio for its property and casualty business and a 1.8% year-over-year increase in P&C net premiums written. During the second quarter of 2013, New York City-based AIG reported a combined ratio, in […]
4 min read
The Financial Services Commission of Ontario has updated information it released related to an insurance scam in the province. On July 29, the regulator issued a warning advising consumers that a company called “Sentel Insurance” is not licensed to do insurance business in Ontario. FSCO had received information that a company by that name had […]
Guy Carpenter & Company LLC announced Wednesday that GC Securities has placed US$200 million in cat bonds which are essentially intended to cover public transit systems in and near New York City for storm surge risk. New York-based GC Securities stated the Series 2013-1 Notes were placed through a catastrophe bond shelf program, MetroCat Ltd., […]
By Canadian Underwriter | August 1, 2013
Catastrophe modelling firm RMS has announced the latest version of its North Atlantic hurricane model suite, which allows users to quantify risk from hurricane-driven storm surge and gain insight into future hurricane activity levels. “Hurricane Sandy revealed just how real storm surge risk is,” noted Dr. Claire Souch, vice president pf model solutions at RMS. […]
RSA Canada has reported a 15% growth in its net written premiums for the first six months of the year to $1.36 billion, versus $1.18 billion in the first half of 2012. “In the first half of the year we’ve continued to outperform the industry with strong organic growth across both personal and commercial lines, […]
Allstate Corp. released Wednesday its financial results for the quarter ending June 30, recording a 21% year-to-year drop in second-quarter catastrophe losses and a 2.9% year-over-year increase in property and liability insurance premiums. Northbrook, Ill.-based Allstate reported its Q2 operating income increased 22.4% year-over-year, from $432 million in 2012 to $529 million this year. All […]
3 min read
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