Industry
A preliminary projection from the National Highway Traffic Safety Administration suggests that about 38,080 people were killed in motor vehicle collisions in the United States last year. That would be an increase of about 5.3% over 2011, which had 32,367 fatalities, according to the NHTSA. If the projection is accurate, it would also make 2012 […]
By Canadian Underwriter | June 4, 2013
1 min read
Insured losses from a May 28 hail storm in Texas are now estimated to reach $400 million, the Insurance Council of Texas said on Monday. An estimated 35,000 vehicles and thousands of homes were damaged in the storm, which struck the city of Amarillo, which has a population of about 200,000. The organization also said […]
A major commercial road safety blitz event began Tuesday, with 10,000 federal, state, provincial and local inspectors participating across North America. The 72-hour blitz, Roadcheck 2013, is spearheaded by the Commercial Vehicle Safety Alliance, and is taking place across 1,500 locations, where inspectors will conduct comprehensive North American Standard Level I Inspections. The inspectors will […]
3 min read
A severe space weather event that causes major disruption to the electricity network in North America could have major implications for the insurance industry, according to Lloyd’s. In Solar Storm Risk to the North American Electric Grid, Lloyd’s reports that between 20-40 million Americans are at risk of an extended outage, with durations up to […]
2 min read
Several independent brokerages in Alberta are partnering with Excel Insurance Group, an Edmonton-based firm, to gain access to more insurers and possibly work jointly on new business projects. Sheppard Insurance Service Inc., Dyberg Insurance Inc. and Treasures Insurance have all partnered with Excel, a general insurance firm that is also part of Assurex Global, a […]
By Canadian Underwriter | June 3, 2013
The economic bubble has burst, with the values of used vehicles being appraised in Canada down significantly over the last two quarters. But conditions may be ripe for better parts supply at competitive prices and a solid delivery infrastructure in more provinces.
By Greg Horn | May 31, 2013
5 min read
Brokers would be well-advised to pay close attention to a number of industry trends if they hope to thwart market share being lost to direct writers. It is essential to adopt technology solutions that allow brokers to capitalize on their biggest asset: being regarded as trusted advisors.
By Patrick Durepos | May 31, 2013
1 Economical Insurance announced in May that two vice-presidents, Dianna Fioravanti and Scott Campbell, have left the company to “pursue other endeavours.” Fioravanti was vice president of sales, distribution and underwriting operations, while Campbell was vice president for Ontario. Robert Gow [1a] will fill the position vacated by Campbell, Jorge Arruda [1b], appointed chief transformation […]
May 31, 2013
Global insurance broking and risk management firm Marsh has announced plans to expand its Captive Solutions Group operations in Halifax, including hiring more employees over the next five years. The Captive Solutions division provides consulting, design and management services to about 1,220 captive insurance companies around the world. Its Halifax office opened in 2006 beginning […]
By Canadian Underwriter | May 30, 2013
While the Ontario New Democratic Party complains some vehicle owners are seeing their premiums rise by as much as 30%, the Insurance Bureau of Canada denies carriers are raising rates in anticipation of mandated decreases. The minority Liberal government’s budget for the 2013-14 fiscal year, which passed this week with the support of the NDP, […]
4 min read
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