Industry
Respondents to J.D. Power’s 2014 Canadian Auto Claims Satisfaction study report being significantly happier with their auto insurance company’s claims process in 2014 than in 2013. Overall customer satisfaction with the auto claims experience averages 798 in 2014 – 11 points higher than in 2013 – driven by substantially improved interactions, notes a statement issued […]
By Canadian Underwriter | July 14, 2014
2 min read
Crawford & Company has released a white paper meant to help insurance companies and adjusters better understand the current cyber risk environment and how insurers are addressing a risk that continues to be a global threat to millions of commercial enterprises and consumers. Cyber crime is a still-evolving area that insurance companies and adjusters are […]
By Canadian Underwriter | July 11, 2014
3 min read
Insurer FM Global announced Thursday that current executive vice president Thomas A. Lawson has been appointed president and elected to the board of directors, effective Aug. 1. He will also succeed Shivan S. Subramaniam as chief executive officer, effective Jan. 1, 2015. Lawson joined the mutual insurance company in 1979 and was appointed in 2009 […]
By Canadian Underwriter | July 10, 2014
1 min read
Ontario government officials are “reviewing” a proposal to place “reasonable limits” on the amount of money that can be recovered from a municipality named as a joint defendant in a negligence lawsuit, Attorney General Madeleine Meilleur suggested earlier this week. However, a Progressive Conservative opposition MP contends the ruling Liberals have “still not committed” to […]
4 min read
Despite acceptance of the inevitable, a new survey out of the United Kingdom indicates the cost of Solvency II remains a major concern for insurance industry. Just 6% of respondents to the survey by business and financial advisor Grant Thornton UK LLP report they believe the costs of Solvency II are “reasonable.” That compares to […]
By Canadian Underwriter | July 9, 2014
Air pollution has “been identified as a major health risk” and has the potential to give rise to an increase in lawsuits against auto manufacturers and energy producers, while e-cigarettes and aluminum – in products ranging from antiperspirants to medication – could give rise to liability claims if plaintiffs allege they caused health problems, Swiss […]
By Canadian Underwriter | July 8, 2014
Hub International Limited has broadened its local market reach and specializations throughout Manitoba with the acquisition of shares of Gibson’s Insurance Agency Ltd. Terms of the acquisition were not disclosed, notes a statement from Hub International, a leading global insurance brokerage headquartered in Chicago, which is dedicated to building a network of local market insurance […]
By Canadian Underwriter | July 7, 2014
Lloyd’s of London recently published a set of minimum standards, scheduled to take effect Jan. 1, 2015, for the companies that manage the syndicates of members that write insurance for the Lloyd’s market. The minimum standards for Lloyd’s managing agents are now on the Lloyd’s website. “The original Lloyd’s minimum standards were developed around 2005 […]
By Canadian Underwriter | July 3, 2014
Arthur J. Gallagher completed its acquisition of Noraxis Capital Corp. Wednesday, in a deal it says has made it a top five insurance broker in Canada. “Bringing together Gallagher’s existing Canadian broking operations with those of Noraxis will create a strong platform and extensive regional spread for future national growth,” the firm said in a […]
By Canadian Underwriter | July 2, 2014
EGI Financial Holdings Inc. announced Wednesday it has completed the purchase, from Saskatchewan Government Insurance (SGI), of a 75% interest in Insurance Company of Prince Edward Island. Charlottetown-based ICPEI writes auto, home and commercial insurance through brokers in Prince Edward Island, New Brunswick and Nova Scotia. Cooke Holdings Inc. continues to hold the 25% of […]
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