Industry
Marsh & McLennan Companies Inc. reported Tuesday its financial results for the quarter ending Sept. 30, recording a 10% increase in brokerage and risk management subsidiary Marsh Inc.’s third quarter revenues from the United States and Canada. Net income attributable to New York City-based Marsh & McLennan was $297 million on revenues of $3.141 billion […]
By Canadian Underwriter | October 28, 2014
2 min read
SINGAPORE – The longer the Ebola outbreak rages in West Africa, the greater chance a traveller infected with the virus touches down in an Asian city. How quickly any case is detected – and the measures taken once it is – will determine whether the virus takes hold in a region where billions live in […]
By Canadian Underwriter | October 27, 2014
5 min read
OTTAWA – The Transportation Safety Board says the country’s two largest railways and the regional carrier responsible for the Lac-Megantic fire failed to meet their obligations for filing accident information. The federal agency says a total of 254 accidents involving Canadian National, Canadian Pacific and Montreal, Maine & Atlantic were unreported or reported late to […]
By The Canadian Press | October 27, 2014
1 min read
OTTAWA – Having a clear understanding of how consumers want to be serviced will prove important for brokers and insurers alike in the future, Greg Somerville, president and chief executive officer of Aviva Canada, suggested during the CEO Panel at the Insurance Brokers Association of Ontario’s Annual Convention in Ottawa last week. If one considers […]
Chubb Corp. reported Friday a third quarter net income of $594 million, up from $541 million in the same period of 2013. Operating income, which the company defines as net income excluding after-tax realized investment gains and losses, was $522 million in the third quarter of 2014 compared to $529 million in the third quarter […]
By Canadian Underwriter | October 24, 2014
YORKTON, Sask. – Police and fire crews are at a southeastern Saskatchewan canola-crushing plant where witnesses say an explosion occurred. A release from the city of Yorkton says all employees at the Louis Dreyfus Commodities plant on Highway 16 are accounted for. Yorkton RCMP say initial reports suggest that there are no injuries or fatalities. […]
By The Canadian Press | October 24, 2014
Changes to Canadian home insurance policies after billions in water-related losses in 2013 are “tough” on the brokers who have to explain these changes to consumers, but brokers can “outshine any other distribution system” by advising customers on how they can reduce risk, executives of some carriers told Ontario’s brokers Thursday. “We know last year […]
OTTAWA – Quebec is not being as aggressive as Ontario with regard to telematics since the take-up for auto usage-based insurance (UBI) products has been lackluster to date, Guy Parent, general manager of Le Regroupement des cabinets de courtage d’assurances du Québec (RCCAQ), suggested Wednesday in Ottawa. “Just do the math,” Parent said during the […]
OTTAWA – Smart home technology offers significant promise in getting the number of losses down, but replacement costs must also be considered to capture a complete picture of its potential effect, Bob Tisdale, president and chief operating officer of Pembridge Insurance Company, suggested in Ottawa Thursday. The news is good from a frequency of loss […]
3 min read
ATLANTA – New federal Ebola response squads – likened to public health SWAT teams – are being readied to rush to any U.S. city where a new Ebola case might be identified, officials say. Meanwhile, the government has formed a second set of teams to prepare hospitals in cities deemed most likely to see a […]
By Canadian Underwriter | October 23, 2014
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