Industry
Indications that the commercial property/casualty market in the United States was hardening have tapered off, with pricing in 2013 Q3 similar to the second quarter of the year, reports the Council of Insurance Agents & Brokers (CIAB). “The market looked a lot like the second quarter,” Ken Crerar, president and CEO of CIAB, says in […]
By Canadian Underwriter | October 30, 2013
2 min read
Private passenger auto insurance rate filings in Ontario approved during the third quarter of 2013 declined on average by 0.68%, based on the entire market, notes a recent notice from the Financial Services Commission of Ontario (FSCO). The notice provides an overview of auto insurance rate filings approved by FSCO for the period ending September […]
Risk and Insurance Management Society Inc. (RIMS) announced Tuesday some results of an opinion poll on the impact of the expiry of an American law that aims to ensure the widespread availability and affordability of property and casualty coverage for acts of terrorism. The Terrorism Risk and Insurance Act, which was passed in 2002 in […]
By Canadian Underwriter | October 29, 2013
The Insurance Bureau of Canada (IBC) has thrown its support behind an Ontario bill that would make carbon monoxide detectors mandatory in homes across the province. Bill 77 expands the scope of the Fire Protection and Prevention Act, 1997 so that it covers measures relating to the presence of unsafe levels of carbon monoxide, in […]
1 min read
PartnerRe Ltd. released Monday its financial results for the three months ending Sept. 30, recording a combined ratio in non-life of 74.9% and a 21% year-over-year increase in net premiums written for the third quarter. Hamilton, Bermuda-based Partner reported net premiums written for the third quarter of 2013 were $1.265 billion, compared to $1.043 billion […]
The percentage of small business owners in the United States who are using tools like smartphones and the cloud has increased significantly in just three years, a situation that demonstrates the need to keep on top of cyber security issues and vulnerabilities, suggests survey findings from the National Small Business Association (NSBA). “In an increasingly […]
By Canadian Underwriter | October 28, 2013
4 min read
CNA Financial Corporation has posted net operating income of US$269 million and net income of US$272 million for the third quarter of 2013. Both figures increased over net operating income and net income for the third quarter of 2012, which were US$216 million and US$221 million, respectively, notes a statement from CNA Financial, the eighth […]
3 min read
Linda Papadopoulos of Pearson Dunn Insurance Inc. in Stony Creek, Ontario has been honoured as broker of the year by the Insurance Brokers Association of Ontario (IBAO). Papadopoulos, a broker for almost three decades, is a volunteer career ambassador for the Insurance Institute, IBAO notes in a statement issued Monday. She also sits on a […]
IBAO Convention 2013 – The notion of 50 territories and contiguous territories with differentials in Ontario needs reform, Maurice Tulloch, former president and CEO of Aviva Canada and now CEO of Aviva U.K. & Ireland General Insurance, suggested at the Insurance Brokers Association of Ontario’s 93rd annual convention last week. Insurance “needs to be a […]
IBAO Convention 2013 – It is essential to remember the 15% auto insurance rate reduction recently mandated by the Ontario government is an average – meaning not all consumers, regions or companies will be affected in precisely the same way. That was among the many messages offered Thursday during the CEO Panel at the Insurance […]
By Canadian Underwriter | October 25, 2013
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