Industry
Canada has become an increasingly attractive spot for cyber criminals, likely because of our good reputation, according to a new “report card” from IT security firm Websense. Since last year, there has been a 25% increase in Canadian sites hosting malware, Websense says. Based on the last three months, Canada holds the No. 10 spot […]
By Canadian Underwriter | June 13, 2013
2 min read
Aon Benfield released Thursday a study of financial reserves in the U.S. property and casualty industry and found the “overall industry redundancy” position dropped US$2.5 billion, from $11.7 billion at the end of 2011 to $9.2 billion at the end of 2012. All figures are in U.S. currency. The report, titled U.S. P&C Industry Statutory […]
Independent agents and brokers are “generally pessimistic” about the impact usage-based auto insurance programs will have on their businesses, suggests a new report from Strategy Meets Action. About half of agents included in a survey by SMA said they believe it will be difficult for them to sell UBI products, and more than a third […]
The Manitoba government has released a draft regulation that, if implemented, would allow some types of businesses, such as banks, auto and equipment dealerships, to hold restricted insurance agent licences in the province. Those restricted agents, or incidental sellers, would – if the draft regulation becomes law – be exempt from the requirement, under section […]
The AAA Foundation For Traffic Safety announced Wednesday the publication a study on what it calls “cognitive sources of distraction” during driving. The study, sponsored by the foundation, suggests that text-to-speech e-mail can impair driving even though the drivers don’t have to take their eyes off the road or their hands off the wheel. It […]
By Canadian Underwriter | June 12, 2013
3 min read
Less than 1% of Canadian companies are currently using receivables insurance as part of their financial planning, creating a new opportunity for brokers, according to a new organization promoting the opportunity for such coverage. Less than 10,000 of Canada’s 1.1 million employer businesses currently use that kind of insurance, also known as trade credit insurance, […]
While the majority of teen drivers have a personal sense of responsibility for themselves and their passengers, many admitted that they feel helpless about their own risk of collision, notes a new survey from State Farm. About 40% of licensed or permitted teen drivers included in the insurer’s survey of 655 U.S. teens said that […]
A majority of nonprofit organizations are operating without a dedicated risk manager, according to results from a recent survey by Crystal and Co., New York-based a risk and insurance advisor. Only 22% of the U.S. nonprofit organizations included in its survey said they have a dedicated risk manager, according to Crystal. Its survey received 116 […]
By Canadian Underwriter | June 11, 2013
Recent severe flooding in Germany is likely to be even costlier than floods there in 2002, Fitch Ratings said Tuesday. If the flooding progresses as it has in the past, the country is likely to see economic damage around 12 billion euros, with insured losses of between 2.5 billion and 3 billion euros. the ratings […]
Canada’s Transportation Safety Board is recommending the installation of controls designed to automatically stop trains that miss signals and also expresses concern that employees in “safety-critical positions” are “not always adequately assessed for medical fitness.” TSB released Tuesday a report from its investigation into a derailment in early 2012 of a passenger train that killed […]
6 min read
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