Industry
CANATICS, a not-for-profit organization created by the auto insurance industry to help fight fraud, launched a tool to help identify suspicious claims on Wednesday. CANATICS, or Canadian National Insurance Crime Services, analyzes pooled auto insurance industry data using state-of-the-art analytical tools to identify suspicious claims that individual insurers can then investigate, CANATICS said in a […]
By Canadian Underwriter | April 8, 2015
2 min read
Commercial insurance prices in aggregate have been increasing marginally for the past two years, with the 2014 fourth quarter results the highest reported since Q2 2012, according to a new survey from Towers Watson. Released to the media on Tuesday, the Towers Watson Commercial Lines Insurance Pricing Survey – Canada (CLIPS Canada) found that price […]
By Canadian Underwriter | April 7, 2015
While the first quarter of 2015 has clearly demonstrated the urgency and diversity of change across the reinsurance industry, this can only increase in the short-to-medium term as the global reinsurance market evolves, suggested a new report from Willis Re. There is a clear sense of urgency as reinsurers seek to implement major changes, the […]
The global reinsurance industry managed to deliver solid results in 2014, with most companies reporting strong combined ratios and profitable returns, despite increased challenges in terms of price declines, increased commissions and tougher terms and conditions, A.M. Best Company said in a special report released on Tuesday. In the report, titled Appearances Can Be Deceiving, […]
4 min read
The Rockefeller Foundation, Swiss Re, Goldman Sachs and risk modeller RMS have partnered to help launch a new program meant to design and structure new insurance-based products to generate capital for risk-reduction projects. The RE.bound program leverages innovative risk transfer solutions as a mechanism for resilient infrastructure project management re:focus partners, a design firm dedicated […]
CHIPMAN, N.B. – A fire destroyed a well-known diner in the village of Chipman overnight. Barry Armstrong, deputy chief of the Chipman Fire Department, says there was quite a bit of smoke coming from the upstairs of D’s Diner & Lodging when firefighters arrived around 2 a.m. Monday. The upstairs of the building used to […]
By Canadian Underwriter | April 6, 2015
1 min read
As motorcycle season begins, Saskatchewan Government Insurance is reminding drivers and riders of traffic law changes that have come into effect, stemming from safety recommendations of the Motorcycle Review Committee. In 2013, Saskatchewan saw 244 crashes involving a motorcycle “Motorcyclists are at a higher risk of injuries than those travelling in a passenger vehicle,” said […]
Three months after the Ontario government changed its building code to allow construction of wood frame buildings up to six storeys in height, Toronto City Council is asking the ruling Liberals to move quickly to implement rules on safe construction of such buildings. Toronto City Council voted last week in favour of a motion asking […]
An autonomous car’s recent 3,400-mile U.S. road trip proves there’s at least one thing computers do better than humans: Follow the speed limit. Auto supplier Delphi Corp. fitted an Audi Q5 with radar, cameras and laser sensors to navigate the 15-state journey from San Francisco to New York, mostly travelling on highways. The car drove […]
3 min read
Insurers have become increasingly pessimistic about the possibility of a material change in interest rates this year, suggested a study published Thursday by ratings firm A.M. Best Company Inc. The special report, titled A.M. Best Winter 2014 – 2015 Insurance Industry Survey, revealed that 67% of respondents believe that interest rates will remain below 2.25% […]
By Canadian Underwriter | April 2, 2015
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