Industry
Honda Canada has announced a recall involving 7,800 vehicles to address potential malfunctions with the vehicle stability assist (VSA) system on the Pilot and three Acura models that could increase crash risk. Honda Canada will recall approximately 3,200 Honda Pilot vehicles, 700 Acura RL vehicles and 3,800 Acura MDX vehicles from the 2005 model year, […]
By Canadian Underwriter | March 14, 2013
2 min read
Willis Group Holdings unveiled Tuesday its DairyProtector program, targeted at American farms producing raw milk for bulk sales. DairyProtector will be administered by Portsmouth, N.H.-based Willis Programs, which sells specialty products for specific industries. It will be available in 19 U.S. states and is underwritten by a carrier that Willis says was rated “A” by […]
By Canadian Underwriter | March 13, 2013
1 min read
Saskatchewan General Insurance (SGI), the government-mandated auto carrier in the province, may submit an amended application to the Saskatchewan Rate Review Panel for increases to motorcycle premiums, while Premier Brad Wall suggests legislative changes may be needed if bikers want the option of reducing their premiums by declining income replacement coverage. “SGI will be making […]
4 min read
Merger and acquisition activity in the U.S. insurance market may take off this year, after a relatively quiet 2012, but challenges remain in making such deals, notes a report from Deloitte. Last year there was a 20% decrease from 2011 in the number of M&A deals, notes the report, Top 10 Issues for Insurance M&A […]
Improving the customer experience, especially through leveraging data analytics, is among the key issues facing the property and casualty industry in the coming year, notes a new report from PricewaterhouseCoopers in the U.S.. The popularity of mobile technology and e-commerce have led customers to expect fast, convenient service, suggests the report, Top Insurance Industry Issues in […]
The Association of British Insurers (ABI) today released proposals to foster what it characterizes as a fair, independent and objective approach to help the United Kingdom shake its title as whiplash capital of Europe. “Our proposals will ensure better medical assessment of whiplash claims; offer a quick, simple way of paying genuine claims; provide certainty […]
3 min read
Ontario’s New Democratic Party is calling on the provincial government to provide more details on what the Financial Services Commission of Ontario (FSCO) is doing to address the issue of insurance industry profits and driver premiums. “Ontario drivers are paying the highest auto insurance premiums in Canada,” Jagmeet Singh, consumer services critic for the NDP, […]
By Canadian Underwriter | March 12, 2013
Weather forecasters are predicting higher than normal amounts of precipitation in parts of southern Ontario this spring, though the temperature in March will not reach last year’s records highs. In a blog post Tuesday, AccuWeather predicted temperatures this spring will be near or above average across most of eastern, northern and Atlantic Canada. “Expect a […]
Allowing auto insurers to change their rates faster, without going through the current steps mandated under the Financial Services Commission of Ontario, would go a long way in fixing the province’s flawed system, the PC Party’s auto reform critic says. “We’ve been looking at FSCO as a key problem in the system,” said Jeff Yurek, […]
Commercial insurance prices in aggregate increased by almost 7% for 2012 Q4 in the United States, with price increases observed across all account sizes for standard commercial lines, notes a new survey from Towers Watson. The company’s most recent Commercial Lines Insurance Pricing Survey (CLIPS), dated Mar. 2013, compares prices charged on policies underwritten during […]
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