Industry
Saskatchewan Government Insurance (SGI) announced Thursday it is not proceeding with a contract to move its head office from its current location in Regina for the time being. In a press release, the carrier said it has cancelled a request for proposal for a new building and “has decided to postpone a decision on the […]
By Canadian Underwriter | May 16, 2014
1 min read
The Centre for the Study of Insurance Operations (CSIO) has launched a new tool for brokers to calculate their daily, monthly, and yearly cost savings from implementing eDocs. “Since its launch in 2012, the CSIO eDocs Standard has seen a significant increase in adoption across the broker distribution channel, particularly when brokers learn about the […]
There is a “quiet revolution” occurring in the way consumers interact with insurers, as technology has helped fuel customer centricity in distribution, Swiss Re says in its latest sigma study. The internet and mobile devices have allowed consumers to research and purchase insurance policies without relying solely on intermediaries, the analysis suggests. Aggregation and price […]
By Canadian Underwriter | May 14, 2014
2 min read
The functionality and reliability of technology to run the business was a top concern cited by small business owners in the United States recently surveyed on behalf of Allstate Insurance Company. Carried out by FTI Consulting, Inc. April 15-17, 520 small business owners or operators with 25 or fewer employees took part via an online […]
By Canadian Underwriter | May 13, 2014
DETROIT – Ford is recalling more than 692,000 Escape small SUVs and C-Max gas-electric hybrids in North America, including almost 90,000 in Canada, to fix two safety problems. The recalls cover vehicles from the 2013 and 2014 model years. Most of the Escapes have both problems. The first case covers 692,500 Escape and C-Max vehicles. […]
By Canadian Underwriter | May 9, 2014
The Centre for the Study of Financial Innovation (CSFI) recently released its 2014 “Banking Banana Skins” report, in which Canadian respondents expressed a heightened concern about technology risk, social media, cybercrime and interest rates and less concern than two years ago about liquidity and availability of capital. London-based CSFI, which released the Banking Banana Skins […]
4 min read
An increase in underwriting income has contributed to EGI Financial Holdings Inc. posting net operating income of $3.7 million in 2014 Q1 compared to nil for the same quarter a year ago. The increase was due to a rise in underwriting income to $532,000 in 2014 Q1 compared to an underwriting loss of $3.5 million […]
3 min read
Only one in three companies surveyed by Ponemon Institute LLC have a cyber insurance policy to manage the risk of data breaches, but the average cost per compromised record was US$145, with some respondents reporting more than 100,000 compromised records. Traverse City-based Ponemon Institute announced Monday its ninth annual Cost of Data Breach Study, sponsored by […]
By Canadian Underwriter | May 8, 2014
Industrial Alliance Insurance and Financial Services Inc. has posted net income attributed to common shareholders of $82.9 million in 2014 Q1, up 4% from $79.7 million in the first quarter of 2013. The net income attributed to shareholders was also up when comparing the first quarters of 2014 and 2013 (at $90.0 million and $88.4 […]
Allianz Group has reported the highest quarterly revenues in the company’s history for the first three months of the year, at 34 billion euros, up from 32 billion euros in Q1 of 2013. Net income attributable to shareholders was 1.64 billion euros, down from 1.71 billion euros for the first quarter of 2013. The company’s […]
By Canadian Underwriter | May 7, 2014
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