Industry
Independent claims provider Crawford & Company announced on Monday net income attributable to shareholders of US$10.9 million in the third quarter of 2016 ending Sept. 30 compared to a net loss of US$0.9 million in the same period last year. Atlanta, Ga.-based Crawford & Company, one of the world’s largest independent providers of claims management […]
By Canadian Underwriter | November 7, 2016
3 min read
Aviva Canada announced on Monday the 30 finalists of the 2016 Aviva Community Fund. In 18 days, Canadians cast more than three million votes for the more than 450 ideas submitted for funding, Aviva Canada said in a press release. “This reflects a 26% increase in ideas submitted and over five times the number of […]
Economical Insurance has reported that gross written premiums (GWP) were up by 6.7% to $550.3 million in the third quarter of 2016 ending Sept. 30 from $515.9 million in Q3 2015. In the first nine months of 2016, GWP were $1.562 billion from $1.510 billion in 9M 2015. Personal lines premiums grew by $13.5 million, […]
4 min read
Net losses on investment contributed to Fairfax Financial Holdings Limited seeing net earnings drop to US$1.3 million in 2016 Q3 compared to US$424.8 million in 2015 Q3. The results reflect “strong operating income offset by net losses on investments,” notes a statement last week from the company. Fairfax Financial Holdings is a holding company which, […]
The face of terrorism is changing, with soft targets like public areas increasingly being attacked by "lone wolves" who have been radicalized. And although related economic costs are climbing, the take-up for coverage has remained relatively flat.
By Greg Meckbach, Associate Editor | November 6, 2016
6 min read
The Allstate Corporation has reported consolidated revenues of US$9.22 billion for the three-month period ending Sept. 30, up 2.1% from US$9.03 billion in Q3 2015. For the first nine months of the year, consolidated revenues were up 1.1% to US$27.3 billion from US$27 billion in 9M 2015, Northbrook, Ill.-based Allstate said in a statement on […]
By Canadian Underwriter | November 4, 2016
Recent reforms to Ontario auto insurance, including the transfer of accident benefits dispute arbitration to the licence appeal tribunal (LAT), has some personal injury lawyers warning of lawsuits against brokers who fail to advise clients accordingly. “We are trying to educate people about understanding the importance of getting higher benefit policies, higher third-party liability limits, […]
By Jason Contant | November 3, 2016
5 min read
Echelon Financial Holdings Inc. has posted a net income of about $1.4 million in 2016 Q3 compared to a $1.3 million loss in 2015 Q3, although net operating income for the most recent quarter decreased markedly as a result of an underwriting loss. Year to date, the company’s net income was up year over year, […]
By Canadian Underwriter | November 3, 2016
Glen Allen, Va.-based Markel Corporation reported on Tuesday consolidated net written premiums (NWP) for the nine months ending Sept. 30 of US$3.162 billion, up from US$3.023 billion in the same prior-year period. Of the consolidated NWP for the nine-month period, US$1.694 billion was for U.S. Insurance (9M 2015: US$1.587 billion), US$681 million for International Insurance […]
By Canadian Underwriter | November 2, 2016
Consensus seems to be that automated vehicles will reduce collision numbers and severity - and with this, a shift in the determination of liability - thereby impacting underwriting, policies, coverage and the law. Now is the time for insurers to get ahead of the curve and determine the associated risks.
By Robert Love, Partner and National Leader, Product Liability and Automotive Focus Groups, Borden Ladner Gervais, LLP | November 2, 2016
7 min read
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