Industry
Manitoba Public Insurance (MPI) this week reported that claims costs and investment income remain within expectations, citing net income of $15.1 million for the first nine months of the year, ended Nov. 30, 2012, compared with $36.9 million over the same period in 2011. The stable financial results were released as MPI enters the final […]
By Canadian Underwriter | January 18, 2013
2 min read
More than a third of respondents to a recent survey in the United States say they spent more on insurance over the past year, the majority as a result of higher premiums. Of the respondents taking part in the survey, conducted by Princeton Survey Research Associates International, 37% spent more on insurance in the past […]
1 min read
The relationship between brokers and their insurance company partners improved significantly in 2012, suggests the results of a survey conducted by the Insurance Brokers Association of Ontario (IBAO). The results from IBAO’s “Rate Your Company” survey from last year suggest an improvement in broker perceptions in channel leadership, channel support, product and service innovation, and […]
By Canadian Underwriter | January 17, 2013
First Insurance Agencies Ltd. in Campbell River, British Columbia has joined Western Financial Group’s growing network of insurance brokerages across western Canada, effective Jan. 14. Marking Western’s third acquisition on Vancouver Island in the last year, the company now has offices in Campbell River, Nanaimo, Victoria and Sidney, notes a statement from Western. “We’re experiencing […]
Specialty insurance broker Signature Risk Partners Inc. has launched a new database of stolen golf carts. The Stolen Cart Online Registry (SCOR) addresses a need by the golf industry to track stolen carts from different manufacturers, the company says. “The cost of insurance is significant for golf club owners and operators and by reducing claims […]
By Canadian Underwriter | January 16, 2013
Improving the insurance claims process and upgrading or replacing claims systems were among the key focus areas for the majority of insurance claims professionals in the United States responding to a survey by Massachusetts-based Trillium Software. Almost 93% of respondents cite insurance claims process improvement as the top initiative to lower operational costs, notes a […]
Online financial comparison website, Kanetix.ca, has launched a new mobile app that allows users to scan and compare auto insurance quote estimates from their iPhone. The free Kanetix Car Insurance Quick Quote app is a first in Canada, the company says, and is available through the Apple App Store. Using the app, consumers can: The company says […]
Auto insurance provider CAA South Central Ontario is pushing for Toronto politicians to vote in favour of funding more than $500 million worth of repairs over 10 years on the F.G. Gardiner Expressway. The divided highway, which is elevated from a point west of Strachan Avenue to a point near the Don River, runs east […]
By Canadian Underwriter | January 15, 2013
The Insurance Bureau of Canada is using Crime Stoppers Month as an opportunity to again remind the public about the high cost of insurance fraud. January is Crime Stoppers Month in Ontario, where high auto insurance premiums are often linked to fraud. IBC cites estimates from KPMG that auto insurance fraud in Ontario is as high […]
Environment Canada was advising people to monitor weather conditions and listen for updated statements as a result of potentially damaging winds expected to hit parts of Newfoundland and Labrador on Tuesday. “A low-pressure system over the Labrador Sea will continue to intensify as it drifts eastward today,” notes a weather warning for the area of […]
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