Industry
Aviva Canada is reminding Canadians to take precautions this summer, as burglary claims increase dramatically during the warmer months. Compared to February – which has the lowest frequency of burglaries – July, August and September show an increase of 24%, 36% and 18% respectively, Aviva noted, based on its claims data. The value of property […]
By Canadian Underwriter | June 10, 2014
2 min read
A recent survey found no price decreases in any “standard commercial lines” of property and casualty insurance in the United States in the first three months of 2014, Towers Watson reported Monday. The firm released its latest Commercial Lines Insurance Pricing Survey (CLIPS), reporting prices increased by 4% in aggregate in Q1 2014, when compared […]
By Canadian Underwriter | June 9, 2014
Aspen Insurance Holdings Ltd., whose British subsidiary writes insurance in Canada, announced Monday it is advising its shareholders to “take no action at this time” on a US$3.2-billion takeover offer by Endurance Specialty Holdings Ltd. Hamilton, Bermuda-based Aspen provides primary insurance and reinsurance worldwide. Aspen Insurance UK Ltd.’s net written premiums in Canada were about […]
3 min read
Peace Hills Insurance has announced that its president and CEO, Diane Brickner, will be retiring, and will be succeeded by Gene Paulsen as of Jan. 1, 2015. Brickner has worked with Peace Hills since its inception in 1982. She was the first general manager of the company, and then in 1990, became the first female […]
The use of “vast amounts” of data, from claims and customer behaviour, to make underwriting and product decisions, carries some risk for property and casualty insurance carriers, especially when underwriters use models with a “small number of theoretical foundations,” suggests an official with the Office of the Superintendent of Financial Institutions (OSFI). P&C carriers use […]
By Canadian Underwriter | June 6, 2014
More than three quarters of mid-size to large companies in the United States will have cyber insurance coverage in the next year, suggests a new survey from Munich Re. In the survey of more than 100 risk managers at the Annual Conference of the Risk and Insurance Management Society (RIMS), held Denver in April, 77% […]
By Canadian Underwriter | June 4, 2014
An information security research firm is warning of a “disconnect” among corporate board members “regarding the perceived value of confidential data,” while 56% of Canadian respondents to a survey said cyber threats “sometimes fall through the cracks” of existing security measures at their firms. Ponemon Institute LLC recently released Exposing the Cybersecurity Cracks: A Global […]
Insurance pricing tends to be less important for Generations X and Y as it is to Boomers, while older shoppers don’t see easy navigation as the most important aspect of an insurer’s website, a recent survey out of the United States suggests. In J.D. Power’s 2014 Insurance Website Evaluation Study, released Tuesday, 35% of Gen […]
By Canadian Underwriter | June 3, 2014
Property services firm FirstService Brands, a subsidiary of FirstService Corporation (NASDAQ: FSRV; TSX: FSV), has acquired restoration firm Paul Davis Systems Canada for an undisclosed amount. The acquisition adds 63 franchises to Paul Davis Restoration’s North American business services platform, bringing the total number of franchises to 370. Paul Davis provides mitigation, restoration, reconstruction and […]
By Canadian Underwriter | June 2, 2014
1 min read
Canadian property and casualty insurers have started dipping their toes in the app pool, providing customers with a few options related to home and auto insurance. But current offerings skim the surface, with the potential of mobile apps running far deeper.
By Greg Meckbach, Associate Editor | May 31, 2014
6 min read
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