Industry
Implementing standing pricing for assistive devices could save the insurance industry a substantial amount of money, suggests Constable Glen Morash of the Major Fraud Bureau with Peel Regional Police. Morash was speaking at ISB Canada’s ISB-U Education Series event, in Milton, Ont. Thursday. While investing MVA clinics during a fraud investigation, he said he noticed […]
By Canadian Underwriter | April 12, 2013
2 min read
The Financial Services Commission of Ontario posted the Superintendent’s Report on Insurance for 2011 this week, summarizing some key figures for the property and casualty and life insurance companies that operate in the province. In 2011, more than half (52.1%) of total premium dollar volume went to the P&C industry, including auto insurance, the document […]
1 min read
The Consumers’ Association of Canada’s British Columbia branch has released a new report that includes 15 recommendations for improving how the government runs the province’s public auto insurer. The Insurance Corporation of British Columbia (ICBC) has become a “cash cow,” the group argues in its report, “A Consumer’s Perspective to Fixing ICBC.” The association says […]
The Insurance Institute has announced a new course for auto insurance professionals in Saskatchewan on new restricted auto licensing requirements in the province. The new Saskatchewan Automobile Restricted Licensing Agent course is launching in Regina on May 11. The two-day course meets the Insurance Council of Saskatchewan’s (ICS) new restricted automobile-only licensing requirements and is […]
Global insurance broker and risk advisor Willis Group has partnered with Presage Group, a technology firm that providers Enterprise Behavioral Risk Management (EBRM) tools, to offer loss prevention services to its clients. EBRM looks at what drives behavior and actions, to better understand people’s decision-making and its impact on workplace safety, Willis explained in a […]
Property and casualty insurers in the United States should see strong net premium growth and a “substantially improved” combined ratio this year, according to a new forecast released by investment management firm Conning. Conning expects net premium for the P&C industry to grow at a rate of 4.6% over 2012 and an improved combined ratio […]
By Canadian Underwriter | April 11, 2013
Livonia, Mich.-based TRW Automotive Holdings Corp. announced Thursday it launched production of the Scalable video camera, or S-Cam, a set of products the vendor says can work with vehicle chassis systems to provide driver assist functions. The technology will be available on vehicles from five manufacturers later this year, TRW stated, noting it is aiming […]
A shift in focus from computer software that analyzes historical data to predictive analytics will be one of the top computing trends this year, suggests a recent report from market research firm Gartner Inc. The report, dubbed The Top 10 Strategic Technology Trends for 2013, includes some discussion of what Stamford, Conn.-based Gartner calls “actionable” […]
Commercial insurance buyers can expect moderate upward pressure on rates for the rest of this year, global insurance broker and risk advisor Willis Group predicts in its latest market report. “The range of anticipated increases is moving slightly higher for most key product lines, although commercial property rates for non-catastrophe (CAT) exposed risks and some […]
By Canadian Underwriter | April 10, 2013
While the top-tier insurance companies have typically been the first to invest in sophisticated claims fraud detection technology, insurance companies of all size will be increasing their spend on such tools over the next three to five years, says a new report from Celent. In a difficult economic environment, addressing claims fraud is especially crucial […]
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