Industry
Commercial insurance prices in the United States increased modestly in aggregate – less than 1% – during the first quarter of 2016, continuing a three-year trend of smaller increases, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) by Willis Towers Watson (WTW). The survey, released on Monday by the global advisory, broking and […]
By Canadian Underwriter | June 13, 2016
2 min read
Customer satisfaction with homeowners insurance in eastern Canada is improving, while catastrophic events contribute to lower satisfaction in the western provinces, according to the J.D. Power 2016 Canadian Home Insurance Study, released on Monday. The annual study examined customer satisfaction with their homeowners insurance company by examining five factors (in order of importance): non-claim interaction; […]
By Canadian Underwriter | June 6, 2016
3 min read
TORONTO – New figures show Canadian consumers lightly tapped the brakes in May, with monthly auto sales falling for the first time since December. DesRosiers Automotive Consultants says light vehicle sales in Canada fell 1.5 per cent last month to 194,866 from 197,937 in May 2015. However, DesRosiers notes that the month had fewer selling […]
By The Canadian Press | June 3, 2016
1 min read
Farm portals are an example of an underserved market. Although the number of farms has declined, with the right investment in technology, including in portals, the farm insurance business holds considerable promise for mutual and general insurers alike.
By Tracy MacDonald, Vice President, Corporate Services, Trillium Mutual Insurance Company | June 1, 2016
6 min read
Customer satisfaction with auto insurance in Canada is improving, representing a complete turnaround from several years of declining satisfaction. Customer experience, rather than rates or rate reductions, is the driver of this newfound improvement, but is the momentum sustainable?
By Valerie Monet, Director, Insurance Practice, J.D. Power | June 1, 2016
7 min read
The federal health department “cannot assure consumers” that cosmetic products comply with the nation’s Food and Drugs Act, and vendors of such products are not required to disclose chemical components, a recent auditor-general’s report suggested. “Health Canada should inform consumers that it does not regularly test cosmetic products for prohibited and restricted substances, microbial contamination, […]
By Canadian Underwriter | June 1, 2016
The World Bank Group has announced that it is creating the Pandemic Emergency Financing Facility (PEF), “an innovative, fast-disbursing global financing mechanism designed to protect the world against deadly pandemics, which will create the first-ever insurance market for pandemic risk.” Japan, which holds the G7 Presidency, has committed the first US$50 million in funding toward […]
By Canadian Underwriter | May 25, 2016
4 min read
Consumer awareness of auto insurance reforms in Ontario – many of which come into force June 1 – is far from complete, with just four in 10 survey respondents reporting they are aware of the changes. Based on feedback from 1,000 Ontarians, the survey undertaken by Bond Brand Loyalty on behalf of the Insurance Brokers […]
Underwriting performance for the commercial lines sector in the United States is likely to deteriorate in 2016, according to a report released on Tuesday by Fitch Ratings. The decline follows a three-year underwriting profit for the industry, with a combined ratio of approximately 94% in each of the last three years (from 2013 to 2015), […]
By Canadian Underwriter | May 18, 2016
More than four in 10 polled Canadians who have driven under the influence of marijuana reported they believe there was no impact on their ability to drive safely, indicate results of a State Farm Canada survey released Tuesday. Results – issued with the kick-off of National Road Safety Week – show that 44% of those […]
By Angela Stelmakowich | May 18, 2016
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