Industry
IT security professionals are most concerned about their ability to defend against cyber threats from mobile devices, suggest findings from a new report from CyberEdge Group. Participants in the Cyberthreat Defense Report survey were asked to rank their ability to defend against cyber threats across various platforms, with 1 being the lowest and 5 the […]
By Canadian Underwriter | February 10, 2014
2 min read
More than one-third of insurance customers surveyed are willing to give carriers access to information on their “usage or behavior” if they can get lower rates, about one in eight would consider buying from car dealers and nearly half “would consider comments on social media” when deciding where they would buy insurance, suggests a recent […]
Insurance carriers in Canada should avoid getting in the collision repair business and should come up with a standard for handling auto collision repair claims, speakers at the recent Canadian Collision Industry Forum (CCIF) suggested. Doug Kirk, global services support manager at Amsterdam-based paint and performance coating maker Akzo Nobel, noted that he has talked […]
3 min read
RSA Insurance Group announced Feb. 4. that Stephen Hester will be the group’s new chief executive and a director of the company. Martin Scicluna, chairman of RSA, who had been acting in an executive capacity pending the appointment of new chief executive, will revert to non-executive chairman. Hester was most recently CEO at Royal Bank of Scotland […]
By Canadian Underwriter | February 7, 2014
The under-30 generation expects “highly personalized service” over smart phones and they need help with insurance buying decisions, but property and casualty carriers who focus their mobile computing efforts more on customers than on agents are making a mistake, suggests a recent from Aite Group LLC. “As part of Aite Group’s 2013 survey of 45 […]
Businesses are advised to regularly review and revise business interruption (BI) insurance coverage or chance being underinsured should a loss occur, John-Paul Strasler, principal of independent forensic accounting firm Insignia Forensic Group Inc., cautioned during a presentation in downtown Toronto on Feb. 5. Speaking about demystifying BI insurance at the Ontario Insurance Adjusters Association’s 2014 […]
Average pricing declines across the world, except in the United States, drove global insurance rates down at the end of last year, according to Marsh’s latest Global Insurance Market Quarterly Briefing. In the fourth quarter of 2013, rates tracked by the company’s risk management global insurance index fell in the United Kingdom, continental Europe, and […]
XL Group plc (NYSE:XL) has reported a net income of $300.8 million for the fourth quarter of 2013, up from $81.4 million in the comparable quarter of 2012. Net income for the full year was $1.06 billion, up from $651 million in 2012. The property and casualty combined ratio for the quarter was 93.3%, 12.6 […]
By Canadian Underwriter | February 6, 2014
TORONTO – Intact Financial Corp. says insurers will raise rates and take other measures this year to compensate for major ice storms and other catastrophic weather-related events of the past year. Canada’s largest property and casualty insurer, which offers Grey Power insurance for mature drivers, Intact home and auto coverage and commercial insurance, said it […]
A survey of more than 1,000 adults south of the border indicates 36% of respondents would rent someone else’s home for vacation, but just 20% would rent out their own homes, Chubb Group of Insurance Companies reports. The Chubb Sharing Economy Survey was conducted by independent research firm Caravan ORC International, notes a statement from […]
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