Industry
Carriers looking to grow their books are expanding channels, adding distributors, moving into new territories and working to optimize their existing distribution channels to improve customer acquisition and retention, notes a new report issued this week by Celent. While approaches may differ among carriers taking part in a recent Celent survey, most respondents consider distribution […]
By Canadian Underwriter | May 21, 2015
2 min read
Saskatchewan Government Insurance (SGI), the province’s self-sustaining auto insurance fund, said on Wednesday that law enforcement officers issued a total of 2,195 tickets during the month of April, including 1,720 for speeding/aggressive driving and 12 tickets related to vulnerable road users. April’s traffic safety focus was vulnerable road users – the actions of pedestrians, bicyclists […]
By Canadian Underwriter | May 20, 2015
1 min read
While parts of Eastern Canada had a cooler than normal April this year, last month was the fourth-warmest April in 136 years worldwide, the United States National Oceanic and Atmospheric Administration (NOAA) suggested in a recent report. In its state of the climate report on temperature anomalies, NOAA noted that the northern hemisphere had the […]
3 min read
In what’s being called the “largest and most complex product recalls” in United States history, Takata Corporation, a Tokyo, Japan-based supplier of automotive safety systems, has announced the recall of nearly 34 million defective air bag inflators. U.S. Transportation Secretary Anthony Foxx announced the recall on Tuesday, saying that “at the [Department of Transportation’s (DOT)] […]
U.S. Sen. Bill Nelson (D-Fla.) filed legislation on Monday to replace the cap on damages for passenger rail liability following last week’s Amtrak derailment, which claimed the lives of at least eight people and injured more than 200 people. Nelson’s bill would replace an “outdated cap” on damages for passenger rail liability following such an […]
By Canadian Underwriter | May 19, 2015
Marsh and FireEye, Inc. have teamed up to offer a new service to help Marsh clients better understand their cyber risk profiles as a result of improved evaluation of their organization’s ability to detect and respond to such attacks. The availability of Marsh Cyber OASIS (Objective Assessment Scorecard of Information Security) was announced Monday, notes […]
Canadian property and casualty insurance organizations should bolster the defences of their organizations and those of their clients against cyber threats by developing a culture of cyber security, recommends a new research report issued Tuesday by the Insurance Institute of Canada (IIC). “Insurance organizations are encouraged to build a corporate culture of cyber security that […]
8 min read
As some insurers struggle to maintain profitability with interest rates at a historic low, central banks in Canada and the United States will start to raise those rates over the next 18 months, but Canadians are “well insulated” against a surprise increase in interest rates, the Bank of Montreal’s chief economist suggested in a presentation […]
By Canadian Underwriter | May 15, 2015
4 min read
PHILADELPHIA – As federal investigators try to find out why an Amtrak train that crashed in Philadelphia sped up in the last minute before it derailed, the railroad’s top official said it takes full responsibility for the deadly wreck. Joseph Boardman, Amtrak president and CEO, said in a letter on Amtrak’s official blog Thursday that […]
A national survey of Canadians who drive in urban and rural communities has found that most respondents (93%) feel that other motorists drive while they are distracted, but only 56% believe that they themselves are a distracted driver. “This is a striking difference from how drivers view their own abilities behind the wheel compared to […]
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