Industry
A personal lines insurer in the United States has launched a new video appraisal service for auto insurance claims, which policyholders can use through the company’s mobile app for the iPhone or Android smartphones. The service from Esurance, the direct-to-consumer personal insurance company owned by Allstate, allows consumers to video chat in real-time with an […]
By Canadian Underwriter | March 17, 2014
1 min read
The Guarantee Company of North America has partnered with Brovada Technologies to launch a new eDocs Solution for personal lines brokers. The offering is designed to save brokers time by allowing for easy download of policy documents to a broker management system (BMS). The solution will also enable streamlined workflows and increase ease of doing […]
2 min read
The Co-operators announced Monday it is introducing a program in Ontario that employs usage-based insurance (UBI) technology to allow for more customized auto insurance and lower premiums for safe drivers. The en-route Auto Program – which uses UBI technology developed by Intelligent Mechatronic Systems (IMS), a provider of connected car technology – will be available […]
Reinsurance provider Hannover Rück SE could spend about €30 million on claims arising from missing Malaysia Airlines Flight MH370, published reports indicate. Reuters Friday quoted Ulrich Wallin, chief executive officer of Hannover Re, as saying the Hannover, Germany-based carrier expects to “see a hit” of about €30 million. “Hannover Re has suggested its own net […]
By Canadian Underwriter | March 14, 2014
United States president Barack Obama is set to sign into law a bill relieving homeowners living in flood-prone neighbourhoods from big increases in their insurance bills. The legislation, which cleared Congress on Thursday, reverses much of a 2012 overhaul of the government’s much-criticized National Flood Insurance Program (NFIP) after angry homeowners facing sharp premium hikes […]
5 min read
Editor’s note: AP has since published an article indicating President Barack Obama is going to approve the bill. Less than two years after passing major legislation aimed at reforming the much-criticized National Flood Insurance Program (NFIP), the United States Congress on Thursday sent President Barack Obama a bill to scale back many of the resulting […]
4 min read
About half of the property and casualty insurance chief financial officers (CFOs) taking part in a Towers Watson survey say they believe the property reinsurance market is softer than the primary market, while about a third say the same is true for casualty business. Towers Watson’s sixth North American P&C CFO Survey, which received input […]
3 min read
Desjardins General Insurance Group Inc. released Thursday some of its financial results for 2013, reporting direct written premiums of $2.1 billion, up 6.7% from $1.98 billion in 2012. “The combined ratio improved by 2.9 percentage points to 91.7%, compared to 94.6% in 2012,” Levis, Quebec-based DGIG stated in a press release. “This was largely due […]
By Canadian Underwriter | March 13, 2014
Cybersecurity and managing data privacy are considered among the most important priorities for IT leaders and chief information officers, according to the latest survey from consulting firm Protiviti. Roughly 1,100 respondents, including CIOs, IT vice presidents, and IT directors – mainly in North America – provided responses for the firm’s 2014 IT Priorities study. Areas […]
There are new risks emerging in the global marine industry despite shipping losses of more than 100 gross tons declining 20% in 2013, notes a report released Thursday by Allianz Global Corporate & Speciality SE (AGCS). AGCS’s second annual Safety and Shipping Review 2014 shows shipping losses continued their downward trend with 94 losses reported worldwide in […]
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