Industry
The automotive repair industry faces some conflicting demands. Will these set in motion the possibility of a collision down the road, or will players respond by working together to smooth out the issues?
By Greg Meckbach, Associate Editor | February 28, 2013
6 min read
Low interest yields in the U.S., proposed changes to capital requirements in Europe and insurance-linked securities will all affect the property and casualty insurance market this year, suggests a report from Conning Inc. Hartford, Conn.-based Conning predicts insurance firms in the U.S. face “sluggish” economic conditions, declining investment income and increasing regulatory complexity. “Companies that […]
By Canadian Underwriter | February 28, 2013
2 min read
Merger and acquisition activity among insurance agencies reached a record high in 2012, bouncing back after a few years of low activity, notes a new report. Last year, there were 291 reported transactions in the United States and Canada, according to an annual survey from OPTIS, an investment banking and financial consulting firm specializing in […]
1 min read
The Guarantee Company of North America announced Thursday a partnership with Scottsdale, Ariz.-based IDT911 Inc., whose services include privacy breach consulting. The Guarantee is now offering several privacy risk services to its corporate policyholders though IDT911, such as helping victims of a privacy breach avoid fraud and identity theft. Through the partnership, IDT911 will also […]
An Ontario New Democratic Party politician complained this week about the state of the major road between Timmins and Sudbury, contending winter driving in the area has become high risk. France Gelinas, the NDP member of provincial parliament for Nickel Belt, suggested in the legislature that Highway 144 has been repeatedly closed and when it’s […]
By Canadian Underwriter | February 27, 2013
Several companies in the property and casualty industry have made Deloitte’s list of Canada’s 50 Best Managed Companies, including those in the restoration field and a brokerage company, while others requalified on the list for a consecutive year. Companies compete to make the annual list, which marks excellence for Canadian-owned and managed private companies with […]
3 min read
Customer loyalty in the insurance industry is at risk, one report says, as only 30% of those included in a recent global survey reporting positive experiences with their insurers. On average, only one in three customers across 30 countries had a positive experience with their insurance company, notes the World Insurance Report 2013 from […]
Software maker Mitchell International Inc. released Tuesday predictions for the property and casualty insurance and automotive repair industries, forecasting lower prices for recycled parts, an overall increase in the cost to repair damaged vehicles and an increased demand for cloud computing. “The average industry cost to repair auto collision damage will increase,” San Diego-based Mitchell […]
EGI Financial Holdings Inc., whose subsidiaries provide high-risk auto and other insurance products, has released its financial results for 2012, reporting a significant drop in the combined ratio for auto. Last year, Toronto-based EGI recorded net income of $19.36 million on direct written premiums of $220.149 million, compared to net income of $7.52 million on […]
By Canadian Underwriter | February 26, 2013
The province of Manitoba is increasing insurance coverage for the AgriInsurance program for this year to $2.6 billion, a 13% jump, the government announced Monday. Under the AgriInsurance risk management program, premiums for most programs are shared 40% by participating producers, 36% by the Government of Canada and 24% by the Province of Manitoba. Administrative […]
By Canadian Underwriter | February 25, 2013
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