Industry
Allianz has named a new chief agent for its Global Corporate and Specialty business in Canada, effective Aug. 1, as the company aims to grow its gross written premiums in Canada to $340 million this year. Kevin Leong will take over the position from Thomas Paap, relocating from Singapore to Toronto. Paap will assume the […]
By Canadian Underwriter | May 9, 2013
3 min read
Economical Insurance reported Wednesday consolidated net income of $26.9 million for the first quarter of the year, a decrease of $13.6 million from the same period last year, which it said is due mainly to “a reduction in realized gains.” However, the Waterloo, Ont.-based property and casualty insurer noted that including other comprehensive income, it […]
By Canadian Underwriter | May 8, 2013
Hannover Re released Tuesday its financial results for the three months ending March 31, reporting a 15.3% drop in net income but a 3.8% increase in gross written premiums in non-life reinsurance when compared to the first quarter of 2012. The Hannover, Germany-based firm, which describes itself as the third-largest reinsurer in the world, reported […]
2 min read
Providing information to consumers about credit-based insurance scores increases acceptance and support for their use, results from a recent survey out of the United States suggest. Risk management firm TransUnion, which conducted the online survey of 881 insured drivers across the U.S., argues that credit-based insurance scores work as a pricing tool for auto insurance, […]
By Canadian Underwriter | May 7, 2013
Canadian Underwriter has launched a new web page: insNews.ca – Global Insurance News: providing news from leading trade journals globally (United States, United Kingdom, South Africa, Asia and Canada at launch, with additional jurisdictions to be added). insNews.ca provides visitors with a real-time stream of news and updates from its various insurance and risk trade […]
1 min read
Information technology executives at insurance companies are working on strategies for mobile computing, social media services like Facebook, cloud computing and the increase in the volume of data, but a computer research firm suggests chief information officers need to consider how these strategies will affect one another. “Most insurers have focused on – and built […]
Commercial property insurer FM Global has earmarked $435 million for premium reductions for its clients that renew their policies between June 30 and June 29, 2014, the company announced Tuesday. The reductions, part of what FM Global calls “membership credits,” is the largest the insurer has ever offered its clients. The company credits its financial […]
Small business owners in Saskatchewan can now obtain online quotes for two small business products, a first in the province as part of a new partnership between SGI Canada and Kanetix Ltd. The small business products – Toolbox Pak and Energy Pak – are available for quote on SGI Canada’s eQuote. Toolbox Pak provides property […]
The Ontario government will release this Thursday changes to the province’s fire code designed to reduce fire risk in homes housing senior citizens and other vulnerable individuals. A spokesperson for Community Safety and Correctional Services Minister Madeleine Meilleur said Monday the government does not plan to introduce new legislation but suggested the government will announce […]
By Canadian Underwriter | May 6, 2013
There was a decrease in the indexed price of vehicle parts for the market basket for the first time in the 10 years Mitchell International has been collecting data, according to company’s latest Industry Trends Report — Auto Physical Damage edition. Further review showed that the domestic vehicle parts market basket experienced such a decrease […]
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