Industry
Desjardins General Insurance Group announced Thursday its financial results for the three months ending March 31, reporting net income of $25.4 million on direct written premiums of $482.4 million. The Levis, Quebec-based property and casualty carrier said first quarter net income was 59.2% lower this year than last year due to “unusually favourable weather” in […]
By Canadian Underwriter | May 23, 2013
2 min read
Smartphone and tablet use among global insurance carriers for providing customer service has increased over the past few years, according to survey results from FirstBest Systems. The survey, a follow-up to a similar survey in 2011, included 55 responses representing about 45 insurance carriers, 82% of which focus on commercial lines. Of those, about three […]
Environment Canada confirmed Wednesday that a tornado occurred in Ontario, the second of the season. On Tuesday at 3 p.m. ET, a tornado occurred near Glenarm, Ont., a small community in the City of Kawartha Lakes, Environment Canada confirmed in a special weather statement. The tornado, categorized as an enhanced Fujita scale 2 (EF-2), occurred […]
By Canadian Underwriter | May 22, 2013
Travelers Insurance Company of Canada announced Wednesday it has launched IndustryEdge, which includes custom coverage for several industries, including restaurants, hotels, wineries and metal products manufacturers. The Canadian products, which target mid-sized firms, are modeled after those of its New York-based parent, The Travelers Companies Inc. In Canada, IndustryEdge includes services for food and beverage […]
Auto insurance customers find it easier to use insurance company websites to service their existing policies rather than for shopping around for coverage, according to results from a recent U.S. study by J.D. Power and Associates. The study asked customers to rate their experience when performing shopping and servicing tasks on a scale of one […]
3 min read
Long Point Re III Ltd. has issued US$300 million worth of three-year cat bonds to provide The Travelers Companies Inc. with protection from hurricane losses in the northeastern United States. Travelers had earlier reported US$669 million in after-tax catastrophe losses attributable to the storm resulting from Hurricane Sandy. Marsh & McClennan Companies’ GC Securities unit […]
The U.S. property and casualty insurance industry released in excess of US$10.5 billion in reserves in 2012 but the industry loss position is either stable or improved from 2011, according to a report released this week by Conning & Company. Hartford, Conn.-based Conning, which provides investment management for the insurance industry, released Monday a study […]
By Canadian Underwriter | May 21, 2013
Ontario NDP leader Andrea Horwath has announced that she will support the governing Liberal Party’s budget for 2013-14, which includes plans to reduce auto insurance rates in the province by an average of 15%. Following the tabling of the budget earlier this month, Horwath said she and her party would be talking with Ontarians before […]
XL Group plc (NYSE: XL) announced Tuesday that its inland marine division it is offering customized coverage for mid to large-sized trucking operations in North America, including errors and omissions, employee tools, accounts receivable and temperature control system breakdown. The XL Motor Truck Cargo Coverage Solutions will include 23 coverages and 22 optional endorsements. Coverage […]
1 min read
The Canadian Association of Occupational Therapists has developed a new set of resources for older drivers in the country. The resources, which includes a new Older Driver’s Safety website, are also aimed at families of older drivers, and also healthcare professionals and were developed in part through funding from the Public Health Agency of Canada. […]
By Canadian Underwriter | May 17, 2013
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
