Industry
The majority of insurers are now using social media in some way, although more than a third don’t have an established social media strategy, according to a report released Tuesday by research and consulting firm Celent. Eighty percent of insurers reported using social media in their business, according to results from the online survey conducted […]
By Canadian Underwriter | May 1, 2013
2 min read
Despite the introduction of graduated licencing programs in many American states, an average of eight teens per day were killed during the summer months over the past five years combined, and that trend is likely to continue in the United States, the Insurance Information Institute suggests. New York-based III released Wednesday some precautions for parents […]
3 min read
Marsh has recommended that United States Congress reauthorize the Terrorism Risk Insurance Program Reauthorization Act (TRIPRA) in light of ongoing strong demand for terrorism risk insurance and the possibility that opting not to reauthorize the program could lead to price increases. If TRIPRA, commonly known as TRIA, is allowed to expire or is substantially changed, […]
About 100 grass fires have already been reported in New Brunswick this year, with at least one causing substantial damage to a home, the provincial government said Tuesday. Other fires have also spread to cause a number of forest fires, the government said. Forest fire season began April 15 and ends Oct. 31. The government […]
1 min read
Insurance industry optimism floated to new heights following the adoption of Ontario's auto reform package in 2010. But the bubble seems to have burst, leaking concern over MIG, AB, BI and waits for arbitration that can stretch into years.
By Jim Cameron | April 30, 2013
6 min read
Providing proof of auto insurance coverage in Canada today is somewhat like a trip back in time. Despite the availability of mobile devices and technology that could put electronic proof of insurance a click away, insurance companies at home seem reticent to be the insurer to make the first move.
By Willie Handler | April 30, 2013
The Ontario College of Trades will soon start enforcing provincial rules requiring certificates of qualification for dozens of skilled occupations, including auto body professionals. One auto carrier suggests the move will help raise the standard of technicians' skills, but critics contend existing licensing, professional standards and inspection regimes are sufficient and the new enforcement layer will spur higher claims cost.
By Greg Meckbach, Associate Editor | April 30, 2013
5 min read
CNA Financial Corp. released Monday its financial results for the three months ending March 31, recording net written premiums of $1.776 billion, up 10% year-over-year from $1.608 billion in the first quarter of 2012. The Chicago-based commercial insurance firm attributed the rise “primarily” to “increased rates across both CNA Specialty and CNA Commercial.” CNA’s specialty […]
By Canadian Underwriter | April 30, 2013
Women aged 17 to 20 are seeing a 32% increase in average comprehensive motor insurance premiums over the last six months in the United Kingdom, according to the latest Confused.com/Towers Watson Car Insurance Price Index. Because of the transition to gender neutral pricing, women in this age group are now paying £2,256 for an annual […]
While last year was challenging for the insurance industry in terms of economic uncertainty and persistent low interest rates, insurers are optimistic about investment opportunities and many are willing to take on more portfolio risk, according to a recent survey. Still, results from the survey by Goldman Sachs Asset Management suggest that chief investment officers […]
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