Industry
The global insurance market will grow strongly in the years to come, especially in emerging countries, according to Munich Re. Growth in the reinsurance market will be slower than that in the primary insurance industry, Munich Re’s Insurance Market Outlook 2013 finds. “The global economic recovery is also benefiting the insurance industry. We expect the […]
By Canadian Underwriter | May 17, 2013
2 min read
Political pressure to force insurance carriers to reduce auto premiums in Ontario is caused in part by public cynicism, but telematics may be part of the solution, suggests Bob Dempsey, president and chief operating officer of The Guarantee Company of North America. “Telematics is the new buzz in the community,” Dempsey said during a presentation […]
4 min read
Granite Claims Solutions has acquired HR Leiher Insurance Adjusters, a firm based in Collingwood, Ont. HR Leiher Insurance Adjusters was formed in 1991 and has since serviced Simcoe County and surrounding areas handling all classes of insurance claims. The company’s founder and principal, Harold Leiher, started his claims career for a national insurer in 1976 […]
By Canadian Underwriter | May 16, 2013
1 min read
Insurance brokerage Western Financial Group announced Thursday it has reached an agreement to purchase Coast Capital Insurance Services Ltd. (CCIS), a subsidiary of the country’s largest credit union by membership, for an undisclosed amount. CCIS, a subsidiary of Coast Capital Savings Credit Union, currently offers property, casualty, commercial, life and disability insurance products through 32 […]
Voice recognition technology that lets users operate smartphones without typing does not eliminate the risk of distracted driving, a recent report suggests. “The crash risk associated with hands-free texting while driving is not as well understood because in-car voice-to-text technology is relatively new,” according to a report by the Traffic Injury Research Foundation. But recent […]
3 min read
The Canadian federal government has renewed a funding program for boating safety, aimed at limiting injuries and property damage related to boating incidents. Under Transport Canada’s Boating Safety Contribution Program (BSCP), the government has set aside roughly $1.8 million over the next three years for 11 boating safety awareness projects. The program aims to improve […]
Consumers are showing openness to using technology for better tracking of vehicle maintenance needs and potential lower insurance costs, notes a new report from networking giant Cisco Systems. In its Customer Experience Report on vehicle buying and driving experience, the company surveyed more than 1,500 people across 10 countries. Overall, the survey found that consumers […]
By Canadian Underwriter | May 15, 2013
A continued threat of a terrorist attack or political violence exists according to an updated mapping of 200 countries and territories globally, highlighting a risk to global business growth. Forty-four percent of countries measured in Aon’s 2013 Terrorism and Political Violence Map have an identifiable risk of terrorist attacks. Political violence and terrorism in 200 […]
The Centre for Study of Insurance Operation (CSIO) is working to build on the progress it has made over the past year to transform its vision to improve broker channel efficiencies and deliver leading-edge technology standards from words to concrete action, CSIO chairman Steve Whitelaw suggested Tuesday during the centre’s annual general meeting in downtown […]
Kingsway Financial Services Inc. of Toronto, whose holdings include non-standard auto insurance carriers in the United States, has released its financial results for the first quarter of 2013, recording a net loss of $17.34 million on revenues of $33.63 million. In the first quarter of 2012, Kingsway had reported a net loss of $12.522 million […]
By Canadian Underwriter | May 14, 2013
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