Industry
The Canadian insurance market is likely going to see continued stability this year, although the industry could see modest rate increases in the second half of 2013, suggests an outlook report from Marsh. Overall, the Canadian insurance industry outperformed the other markets in 2012, suggests the report, Canada Insurance Market Report 2013, which provides a […]
By Canadian Underwriter | January 30, 2013
2 min read
Tire company Bridgestone Americas, along with the U.S. Department of Transportation, has released several safe driving public service announcements geared toward teenagers, made by teenagers, that will be distributed across the country. The 2012 Teens Drive Smart Video Contest allowed teens to create videos to help influence their peers to make smart, responsible decisions when […]
The global microinsurance sector is expected to double by 2020, potentially providing coverage to 1 billion people by that time, suggests one industry network. Over the past decade, governments, insurance companies and providers have been widening their geographic scope and range of services to low-income people worldwide, notes the Microinsurance Network, which includes members from […]
Brokerage and risk management firm Arthur J. Gallagher & Co. released Tuesday its financial results for 2012, reporting net earnings of $195 million on revenues of $2.52 billion, up from net earnings of $144.1 million on revenues of $2.13 billion in 2011. All figures are in U.S. currency. “During the fourth quarter, we took actions […]
A 12-city examination involving the five largest auto insurers in the United States indicates that use of rating factors results in insurers frequently charging higher premiums to “safe” drivers than to those who have had an at-fault accident within the last three years, the Consumer Federation of America (CFA) reports. In two-thirds of the 60 […]
3 min read
Vehicle electronic systems, lightweight materials and collision avoidance systems will be challenging to insurers and the repair shops who fix damaged vehicles, speakers at two recent conferences suggest. Moreover, a slight majority of professionals attending last Saturday’s Canadian Collision Industry Forum (CCIF) indicated that insurance claims and collision repair staff are not getting the right information […]
Aviva Canada has announced the grand prize winners of its Aviva Community Fund competition, where Canadians were invited to vote on which community organizations should receive a share of $1 million. A panel of judges helped select the grand prize winners after millions of votes by Canadians helped narrow down the list of finalists. Among […]
By Canadian Underwriter | January 29, 2013
7 min read
With investment returns dropping while loss ratios are staying constant, insurance carriers are looking to cut costs on auto repairs, an industry analyst told a room full of collision repair executives Saturday. Matthew Ohrnstein, managing director of Irvine, Calif.-based Symphony Advisors LLC, presented a plethora of statistics on the auto industry at the Canadian Collision […]
4 min read
A slight majority of attendees at a meeting last Saturday of automotive repair professionals indicated insurer relations was one of their top three priorities, while speakers suggested that the industry faces conflicting demands from automobile manufacturers and insurance carriers. At the Canadian Collision Industry Forum (CCIF), held Jan. 26 in Toronto, attendees were polled on […]
By Canadian Underwriter | January 28, 2013
Having a well-stocked trunk is critically important should weather leave motorists stranded, sometimes for hours, but very few drivers are properly prepared, notes a new survey from State Farm. The survey by State Farm and KRC Researcher in the United States found that only one in 10 drivers polled there keep necessary roadside emergency supplies […]
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