Industry
OTTAWA – Proposed new federal regulations will give shippers until 2025 to upgrade rail tank cars to a higher safety standard, a transition that would come almost 30 years after serious deficiencies in the fleet were first identified – and as oil-by-rail accidents continue to pile up. The safety upgrade would build on new standards […]
By Canadian Underwriter | March 12, 2015
3 min read
DETROIT – Honda is launching an unprecedented U.S. ad campaign urging owners to get vehicles repaired if they have been recalled to fix defective air bags. The Japanese automaker will spend several million dollars on ads in 120 newspapers and 30-second radio spots in 110 markets. It’s also sponsoring customized Facebook posts that will appear […]
2 min read
The Insurance Bureau of Canada announced Thursday a wireless app – available now on devices running Google Inc.’s Android operating system – meant to raise awareness about staged collsions. SafetyMobile app was launched at Toronto’s Danforth Collegiate Thursday as part of fraud prevention month. IBC says it is available now from the Google Play store […]
An influx of commercial claims from businesses affected by Cyclone Marcia in February has ratcheted up the reserved value of insurance losses to AU$403.6 million, the Insurance Council of Australia (ICA) reported Thursday. That AU$403.6 million total relates to 29,565 claims reported to date, notes a statement from ICA. Marcia prompted ICA to declare a […]
A number of indicators support continued acceleration of activity in the insurance mergers and acquisitions (M&A) market, notes a new report from Deloitte. In 2013 and 2014, “an increased number of large M&A announcements helped to drive the aggregate deal value for the year, offsetting a decline in smaller details,” notes the report, 2015 Insurance […]
By Canadian Underwriter | March 11, 2015
Handling a fleet of mobile devices in the workforce involves tailoring the approach to the individual user, suggested Graham Chalk, manager of enterprise mobility management (EMM) for Telus Corp., during his presentation at the P&C Technology Conference in Toronto on Monday. Despite the usual differences in the workplace – from people to office sizes to […]
Hannover Re realized its best-ever financial year in 2014 – with the group’s net income increasing to 985.6 million euros from 895.5 million euros – but the reinsurer acknowledges that the general climate is likely to remain challenging in the coming year. With the net income for 2014, “Hannover Re comfortably surpassed the record result […]
WASHINGTON – Four trains hauling crude oil have derailed in Canada and the U.S. since mid-February, rupturing tank cars, spilling their contents, polluting waterways and igniting spectacular fires that burned for days. The derailments have deepened safety concerns that if an oil-train accident were to occur in a populated area, the results could be disastrous. […]
By Canadian Underwriter | March 10, 2015
4 min read
Desjardins General Insurance Group Inc. released Tuesday its financial results for 2014, reporting a 9.9% decline in underwriting income, a 5.9% increase in direct written premiums and a slight increase in combined ratio. DGIG, owned by Desjardins Group of Levis, Quebec, provides home and auto insurance in Ontario, Alberta and Quebec – as well as […]
Telematics technology may not reduce the frequency of auto insurance claims, but it does help reduce severity, reduce insured losses and help brokers provide value-added services to both consumer and commercial customers, speakers suggested Tuesday at the P&C Insurance Technology Conference. “In general, what’s been seen is that the claims frequency doesn’t really decrease,” with […]
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