Industry
NEW YORK – Add hackers to the long list of things that give CEOs insomnia. Target’s chief executive, Gregg Steinhafel, is the first boss of a major corporation to lose his job over a theft of customer data. His exit from the helm of the nation’s third-largest retailer on Monday shows that – in addition […]
By Canadian Underwriter | May 7, 2014
3 min read
Canadians are generally underestimating certain risks related to their personal insurance, and many would rather take doing boring or unpleasant tasks over thinking about their coverage, notes a new survey from TD Insurance. In its commissioned online survey of 1,000 Canadians 18 and older, 62% said they would rather shovel snow, spend a Saturday doing […]
By Canadian Underwriter | May 6, 2014
2 min read
One in five Canadian auto insurance customers taking part in the J.D. Power 2014 Canadian Auto Insurance Satisfaction Study have shopped for a new insurer in the past 12 months, but just 9% have made the switch. The study measures insurance customer experiences with their primary auto insurer in Canada. Customer satisfaction is measured across […]
SCOR has reported a net income of 135 million euros for the first three months of 2014, up 21.6% over the prior year quarter’s result of 111 million euros. Gross written premiums for the first quarter totaled 2.669 billion euros, which SCOR said was driven by strong renewals in its global property and casualty business. […]
1 min read
Independent Broker Resources Inc. (IBRI), a subsidiary of the Insurance Brokers Association of Ontario, will introduce two telematics offerings to the industry, IBAO CEO Randy Carroll said in an update issued Tuesday. IBRI will be offering a telematics solutions from Ingenie, a United Kingdom-based telematics broker that is expanding into the Canadian marketplace. It will […]
TORONTO – Fairfax Financial Holdings Ltd. has reported a big increase in net earnings in the first quarter, reflecting gains in its investment portfolio and improved underwriting results from its insurance businesses. The Toronto-based property and casualty insurer, which has operating companies in the United States and Canada, said its net income was US$784.6 million […]
By The Canadian Press | May 5, 2014
XL Group plc reported Thursday its financial results for the quarter ending March 31, reporting a 1.3-point increase in its property & casualty loss ratio and a 19.8% drop in underwriting profit. The Dublin-based carrier also announced Thursday that its XL Insurance (Bermuda) Ltd. subsidiary entered into an agreement to sell XL Life Reinsurance (SAC) […]
By Canadian Underwriter | May 2, 2014
Property and casualty insurance brokerage BrokerLink has announced the acquisition of the ownership position in Anthony Clark Insurance Brokers Ltd (ACI), previously held by Anthony Clark International Insurance Brokers Ltd. “ACI is a natural fit with BrokerLink. Their existing personal insurance and group programs compliment our own,” Chris Miller, head of the Alberta region at BrokerLink […]
The Ontario government announced Thursday it plans to eliminate the small business deduction on corporate taxes for large firms, to raise individual tax rates for those earning $150,000 or more and to require employers not offering their own pension plan to pay 1.9% of employees’ earnings towards a new mandatory provincial pension plan. Finance Minister […]
By Canadian Underwriter | May 1, 2014
Allied World Assurance Company has launched its ForceField management liability product suite into the Canadian market, the first of its professional lines products to be offered here. The product line offers five coverages for private companies and non-profit organizations. they include Directors & Officers Liability, Employment Practices Liability, Fiduciary Liability, Crime Coverage, and Kidnap & […]
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