Industry
Marine protection and indemnity (P&I) clubs will be under pressure to increase their premiums next year, while financial regulators impose more requirements on those shipowners’ mutual liability insurance companies, marine risk experts from Aon Risk Solutions suggested in a recent report. “A lack of profitable underwriting, coupled with adverse claim conditions and the stringent solvency […]
By Canadian Underwriter | October 7, 2013
3 min read
The Centre for Study of Insurance Operations (CSIO) recently announced it has certified Northbridge Insurance for eDocs. Several brokers and carriers have already implemented CSIO’s Extensible Markup Language (XML) eDocs, but CSIO said on Oct. 4 that Northbridge is the first carrier to obtain CSIO certification for eDocs. CSIO says its eDocs standard saves brokers […]
2 min read
Property and casualty insurance brokerage BrokerLink has added three new full-service Ottawa-area brokerages to its network of offices in Ontario. Baizana Insurance Brokers, Pentagon Insurance Brokers and Lalonde Insurance Brokers are based in Barrhaven, Orleans and Rockland, and Cornwall, respectively. Terms of the deal were not disclosed. John Baizana, current president of Baizana Insurance Brokers, […]
WINNIPEG – Manitoba Public Insurance recorded a profit of almost $42 million in the first six months of the 2013 fiscal year. That’s an increase of nearly $21 million over the same time period last year. Heather Reichert, MPI’s vice-president of finance, says they’re heading into the fall and winter months in a stable financial […]
By The Canadian Press | October 7, 2013
1 min read
A group of high school students in Mississauga, Ont. completed a 23-hour technology fast on Friday, as part of a larger campaign around distracted driving, led by Allstate Canada. The 60 teens at Rick Hansen Secondary School were the first in Canada to participate in Distraction-Free 23, developed for the fact that drivers are 23 […]
By Canadian Underwriter | October 4, 2013
Private equity firm Hellman & Friedman has successfully completed its buyout the majority interest in Hub International, a deal first announced in August. The transaction values Hub at roughly $4.4 billion. Under the terms of the agreement, investment funds managed by Hellman & Friedman will hold a majority interest in the company, while members of […]
The majority of respondents in a recent survey of European drivers expressed an interest in auto insurance policies using data gleaned from telematics. “Across all six participating European countries, 55% of drivers indicated some interest in telematics insurance,” New York-based Towers Watson, which released the survey, stated Sept. 26. “The comparable figure for the United […]
By Canadian Underwriter | October 3, 2013
Swiss Re International SE has created a branch in Singapore and has received an insurance licence to do commercial business there, beginning operations immediately. The new entity, set up by the Luxembourg subsidiary of Swiss Re Corporate Solutions, will offer direct insurance products to large and upper-end middle market corporate clients, as well as to […]
Workforce management tops the list of challenges for chief claims officers at leading property and casualty insurance firms, according to a new survey from Towers Watson. In its survey of 41 chief claims officers from a range of company sizes, 76% cited workforce management as a top three business issue. That was followed by “achieving […]
By Canadian Underwriter | October 2, 2013
A quarter of businesses will lose competitive ranking over the next few years because of “digital business incompetence,” according to research firm Gartner. Based on a survey of 151 participants involved in digital business strategy, 90% said they thought competition for talent will make or break digital business success, Gartner says. “The next decade will […]
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