Industry
The Government of Nova Scotia announced Sept. 3 that it plans to introduce legislation this fall to prohibit high-volume hydraulic fracturing for onshore shale oil and gas at this time, a decision that energy minister Andrew Younger noted in an op-ed piece the next day reflects the wants of provincial citizens. “Nova Scotians have clearly […]
By Canadian Underwriter | September 8, 2014
2 min read
Aon Benfield released Monday financial data for its aggregate of 31 global reinsurers, reporting the combined ratio was 90.3% in the first half of 2014, up 0.4 points from the first six months of 2013, while gross written premiums were $128 billion, up 17% from the same period in 2013. All figures are in United […]
3 min read
British Columbia has moved forward with a new advertising campaign and enhanced police enforcement into the dangers posed by distracted driving. The effort – launched last week by the B.C. government, the Insurance Corporation of British Columbia (ICBC) and police – seeks to answer the results of driver distractions, which on average, kills 88 people […]
LexisNexis Risk Solutions recently released results of a survey in which more than two-thirds of respondents expressed concerns that telematics vehicle technology could give their insurance carrier too much information. LexisNexis, a unit of Reed Elsevier plc, commissioned surveys of both consumer auto policyholders and commercial policy decision makers coordinating vehicle fleets. When asked about […]
By Canadian Underwriter | September 5, 2014
1 min read
AURORA, Ont. — Four men are facing charges after police say more than 40 vehicles were stolen from commuter parking lots across the Greater Toronto Area. York Regional Police began an investigation in early June into what they say were “multiple sophisticated auto thefts” from the parking lots. Investigators say the thieves targeted imported automobiles […]
XL Group plc recently announced a new cyber insurance policy that includes a coverage extension outsourced providers of computer services and a “broader definition” of protected health information and personally identifiable information. Dublin-based XL Group is offering the new coverage through its North America cyber and technology risk unit, headquartered in New York City. “XL […]
YPSILANTI, Mich. — Your car soon will do more to help avoid a crash. As for one day leaving all the driving to the vehicle while you relax in back, don’t get your hopes up. That’s the message from safety executives at Toyota, who on Thursday promised by 2017 to have collision-prevention technology installed across […]
Marsh has launched a catastrophic cyber policy for large companies that offers limits of more than $300 million in coverage above a minimum $100 million self-insured retention. Underwritten by leading cyber insurers and sold exclusively through Marsh, Cyber-CAT provides catastrophic protection for large companies seeking to better manage the growing threat of a cyber-related data […]
Hub International Ltd. announced Wednesday that its Sinclair Cockburn subsidiary has acquired a commercial book of business from Lisa Cook, an independent broker who will now be working for Hub out of Markham, Ontario. Cook “will support Hub Ontario’s regional efforts to expand its general middle-market commercial business, focusing on healthcare, manufacturing and pharmaceutical,” Chicago-based […]
By Canadian Underwriter | September 4, 2014
More than seven of eight respondents to a recent survey said they would be “willing to consider” usage-based auto insurance if their carriers guarantee their rates would not increase, Towers Watson & Co. said Wednesday. “Most (79%) of the 1,000 respondents surveyed said they either would buy a UBI policy or are willing to consider […]
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