Industry
HALIFAX – There were no mechanical problems with an Air Canada passenger jet that crashed about 200 metres short of the runway at the Halifax airport in March, the Transportation Safety Board says in a preliminary report released Tuesday. The independent board issued a statement saying the Airbus 320-200 was correctly configured for landing, its […]
By Canadian Underwriter | June 16, 2015
2 min read
Investment in sales and marketing technology tools among larger, more successful insurance agencies is likely to grow, compared to smaller agencies and those whose revenues are stagnant or shrinking, according to a joint study released on Tuesday by Velocify and Insurance Technologies Corporation (ITC). The State of Techsurance 2015 by Velocify, a provider of cloud-based […]
4 min read
Motor injury fraud in the United Kingdom accounts for 60% of all claims fraud that Aviva detects, with the insurer reporting it identified more than 14,000 fraudulent claims worth £95 million last year. Motor injury fraud – including bogus claims, “cash for crash” and organized fraud – continues to be the biggest problem area and […]
3 min read
Commercial insurance prices increased in aggregate at a modest pace (2%) during the first quarter of 2015, according to the latest Commercial Lines Insurance Pricing Survey (CLIPS) conducted by global professional services company Towers Watson. The survey, released on Monday, compared prices charged on policies underwritten during the first quarter of 2015 to those charged […]
By Canadian Underwriter | June 15, 2015
The average married couple in the United States pays 80% more for auto insurance after adding a teen driver to their policy, according to a new report on Monday from InsuranceQuotes.com, an online provider of quotes for auto, life, homeowners, health, renters, dental, group health and business insurance. The report said that 16-year-olds cause the […]
Satisfaction among surveyed auto insurance customers in the United States may be high, but a quarter of respondents still report shopping around, mostly in a bid to secure a better rate, notes the Insurance Research Council (IRC). In all, 86% of insured drivers responding to a recent public opinion survey commissioned by IRC say they […]
The head of Manitoba Public Insurance (MPI) says the decision not to request an overall rate increase – the twelfth time in 15 years – for the 2016-2017 insurance demonstrates rate stability and the strength of the public auto insurance system. With Manitoba’s Public Utilities Board’s (PUB) “approval of last year’s rate application (a 3.4% […]
New figures from Shred-it show there is a growing divide between large organizations and small businesses when it comes to information security. Although there appears to be growing awareness among polled C-suite executives about the threat posed by data breaches – prompting them to take concrete steps to improve their security policies and procedures – […]
By Canadian Underwriter | June 12, 2015
Institutions would be well-advised to approach governance, risk and compliance (GRC) as a federated architecture that allows for solutions as required, suggests a new report issued Thursday by TABB Group, which forecasts US$2.592 billion in global compliance market spend this year to handle the GRC “data tsunami.” “The idea of a single GRC platform to […]
Tokio Marine Holdings Inc. has agreed to acquire Houston-based HCC Insurance Holdings Inc. for about US$7.5 billion. The companies announced Wednesday their boards have approved the agreement, which is still subject to shareholder and regulator approval, as well as “other customary closing conditions.” If approved, Tokyo-based Tokio Marine would acquire HCC through Tokio Marine & […]
By Canadian Underwriter | June 11, 2015
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