Industry
TORONTO – After a record-breaking year in 2015, Canadian auto sales continued to roar ahead in the first month of this year. DesRosiers Automotive Consultants says overall car and light truck sales rose to 108,553 in January, up 9.6 per cent from 99,051 in January 2015 and just shy of the month’s all-time record of […]
By The Canadian Press | February 2, 2016
1 min read
Aviva Canada has announced the expansion of its classic and custom vehicles program in Quebec through The Silver Wheel Plan, available via the insurer’s network of brokers in partnership with Leclerc Insurance and Financial Services. “The enhanced product offering and streamlined procedures will be exclusively available Feb. 1,” notes a statement issued Monday by Aviva […]
By Canadian Underwriter | February 2, 2016
WHITEHORSE – A privacy breach involving the personal information of 3.4 million former students in British Columbia has Yukon’s privacy commissioner urging the territorial government to implement policies that would protect its residents. Diane McLeod-McKay said Friday that only the Yukon Workers’ Compensation Health and Safety Board has such a policy in place. On Thursday, […]
2 min read
Original equipment manufacturers (OEMs) are looking to position themselves to take the lead following vehicle collisions – so-called virtual steering – which could have an impact on what follows, including perhaps the choice of repair shop, it was suggested at Friday’s Canadian Collision Industry Forum (CCIF) in Toronto. “Why do OEMs want to get involved […]
By Canadian Underwriter | February 1, 2016
4 min read
Managing technology change demands considering the who, what, when and why. But the benefits of a modern, scalable platform that can change with both staff and client needs outweigh the challenges of change.
By Jeff Purdy, Senior Vice President of International Operations, Applied Systems | January 31, 2016
Canada is not necessarily in a recession, but the country is experiencing a dramatic shake-up of where economic growth is coming from, the Bank of Montreal’s vice president and senior economist said on Thursday. “We’re looking at, for example, almost a 3% decline in real GDP in Alberta last year,” said Robert Kavcic during a […]
By Canadian Underwriter | January 30, 2016
Insurance brokers cannot win a price war in personal property & casualty lines, and consumers want to buy coverage from providers who are “fully fluent” in technology, the new president of the Insurance Brokers Association of Ontario (IBAO) suggested Thursday. “Brokers cannot win in the price commodity race,” IBAO president Doug Heaman said during a […]
By Canadian Underwriter | January 29, 2016
Canadian commercial insurance prices in aggregate for the third quarter of 2015 have shown the first quarter of decrease since Q3 2011, according to the latest Willis Towers Watson (WTW) Commercial Lines Insurance Pricing Survey (CLIPS) – Canada. “Commercial insurance prices in aggregate had been increasing marginally for the past three years,” Willis Towers Watson […]
By Canadian Underwriter | January 28, 2016
The pace will slow from 2015, but mergers and acquisitions (M&A) activity and consolidation in the Bermuda insurance market will continue in 2016, notes a new report issued this week by Fitch Ratings. “Organic growth options are limited and scale and diversification are driving a rapid pace of M&A activity for Bermuda insurers and Fitch […]
A.M. Best has placed under review with negative implications the issuer credit rating (ICR) of American International Group, Inc. and the financial strength ratings (FSR) and ICRs of its insurance subsidiaries. “The under review status reflects the strengthening of loss reserves in AIG’s non-life business by US$3.6 billion during the fourth quarter of 2015, primarily […]
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