Industry
Xuber, an international software house that provides commercial insurance software, has found “ongoing soft market conditions to be the most widely-cited challenge facing the global reinsurance industry in 2015.” Xuber, part of London, United Kingdom-based business technology and services provider Xchanging plc, released Xuber’s Global Reinsurance Survey 2015 this week, which polled more than 40 […]
By Canadian Underwriter | May 8, 2015
2 min read
Rogers Insurance Ltd., under the previously formed Inowest Insurance Brokers Inc. brand, announced on Thursday that it has acquired Sylvan Agencies Ltd., which operates as Sylvan Agencies in Sylvan Lake, Alta. and Procom Insurance in Red Deer, Alta. “The acquisition of these two brokerages expands the commitment Rogers Insurance made to the central Alberta marketplace […]
The Federal Aviation Administration’s (FAA) announcement earlier this week that it is partnering with industry to explore the next steps in drone operations beyond its draft rule published in February could have implications for Canada, Anthony Mormino, senior legal counsel with Swiss Re, told Canadian Underwriter. In particular, the reduction or elimination of the visual […]
3 min read
If the Supreme Court of Canada does not uphold the British Columbia government’s authority, under the Constitution, to impose immediate licence suspensions on drivers who fail roadside alcohol breathalyzer tests, there could be an increase in collisions and auto claims costs, Insurance Bureau of Canada suggested in a factum submitted to Canada’s highest court. The […]
By Canadian Underwriter | May 7, 2015
5 min read
Echelon Insurance – a Mississauga, Ont.-based company that has operated in the property and casualty insurance industry in Canada since 1997, primarily focusing on non-standard auto insurance and other niche and specialty general insurance products – reported a combined operating ratio of 105.1% for Q1 2015, compared to 99.1% in the first quarter of 2014. […]
Net written premiums in Canada were down 4% to 214 million pounds (£) for the first quarter of 2015 compared to the same quarter last year, RSA Group said on Thursday. Personal premiums in Canada were flat, with a 5% reduction in Motor offset by growth of 11% in Household, RSA said in a statement, […]
London, U.K.-based Aviva plc reported on Thursday that in Canada, the combined operating ratio (COR) improved 4.6 percentage points to 98.1% in Q1 2015 compared to 102.7% in Q1 2014, “reflecting better overall weather experience,” although claims frequency remained above long-term average. Net written premiums were also 1% lower, mainly due to selected exits from […]
Ingenie, an auto insurance provider for young drivers aged 16-24, announced on Thursday that it has appointed Lorie Phair as the CEO of ingenie Canada. “Traditionally, young drivers have been discriminated against and treated as a high risk by the insurance industry,” Phair said in a press release. “Our approach is to help young drivers […]
Munich Re has posted a consolidated profit of 790 million euros for the first quarter of 2015 – down 16% from 941 million euros in the same quarter of 2014 – but officials have voiced confidence that the company remains on track to achieve its annual target results. The operating result was down as well, […]
4 min read
Swiss businesses are ill prepared for cyberattacks, much too reactive in their approach and rely too heavily on technology while neglecting the human factor, according to a KPMG study released on Wednesday. The study, titled Clarity on Cyber Security, found that a majority (63%) of the companies surveyed indicated their organization could certainly be an […]
By Canadian Underwriter | May 6, 2015
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