Industry
Operating profits for the property and casualty industry generally improved last year, although several individual companies’ performances were “below par,” says Fitch Ratings. The company’s analysis of full year earnings from 48 publicly traded insurers and reinsurers suggests a 75% improvement in operating earnings and operating return on equity of 7.3% versus 4.4% in 2011. […]
By Canadian Underwriter | March 15, 2013
1 min read
Most trailers on modern semitrailers fail to prevent incidents where a passenger vehicle slides underneath the rig in collisions involving only a small portion of the truck’s rear, indicate new crash test results from the Insurance Institute for Highway Safety (IIHS). The tests show that “modern semitrailers, for the most part, do a good job […]
4 min read
Economical Insurance has announced that on March 25 it will begin a pilot implementation of the Centre for Study of Insurance Operations (CSIO) eDoc XML standard with select brokers. Brokers that use Economical’s broker management systems (BMS) The Agency Manager, sigXP, PowerBroker or The Broker Workstation will be part of the pilot. Upon completion of […]
Rates in the United States transportation market remain high despite showing signs of levelling off, notes a new survey of transportation insurance brokers, wholesalers and underwriters south of the border. The Transportation Insurance Pricing Survey (TIPS) – released Wednesday by NIP Group, Inc. – demonstrates the majority of respondents believe the transportation market remains consistent […]
2 min read
Directors and officers of organizations responding to a recent survey were more likely to inquire last year than in 2011 about the scope of liability insurance coverage, a Towers Watson survey suggests. The New York-based professional services firm recently released results of a D&O liability survey, in which nearly two-thirds of non-profit respondents reported having […]
3 min read
Saskatchewan General Insurance (SGI) announced Thursday it plans to revise its proposed premium hikes for motorcycle owners after an earlier proposal spawned a backlash against the ruling Saskatchewan Party government. “Under SGI’s revised proposal increases for motorcycles with annual rates greater than $1,000 will be capped at a maximum of 15%,” the company stated in […]
By Canadian Underwriter | March 14, 2013
The demand for transactional risk insurance increased significantly last year, notes a new report from Marsh. Demand for the coverage among its clients grew 41% last year over 2011 globally, notes the report, M&A Transactional Risk Solutions: Global Review 2012, issued from the company’s Private Equity and Mergers & Acquisitions Services (PEMA) business. From 2010, the […]
More companies purchased cyber insurance in 2012 over previous years in an effort to protect themselves from data breaches, notes a new report from Marsh. The number of the company’s U.S. clients purchasing cyber insurance increased by 33% from 2011 to last year, notes the report. “Cyber insurance limits purchased in 2012 averaged $16.8 million […]
Desjardins General Insurance Group announced Thursday its direct written premiums increased 8.2% year-over-year from 2011 to 2012, but suggested Ontario auto continues to be a concern. In a press release, the Levis, Que.-based carrier said in 2012, it recorded net income of $185.9 million on direct written premiums of $1.98 billion. Its net income was […]
High net worth (HNW) families in the United States often do not carry enough liability coverage in a variety of forms, leaving their wealth unnecessarily exposed, notes a new ACE survey of independent insurance agents and brokers. “Most wealthy individuals and families who insure their assets with carriers geared primarily for the average U.S. household […]
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