Industry
Auto insurance premiums for young female drivers in the United Kingdom have risen an average of 22.1% since the European Court of Justice (ECJ) ruling on the gender-based pricing, a new study suggests. Since Dec. 21, 2012, female drivers between ages 17 and 19 have seen an inflation of their premiums of £231 ($365) on […]
By Canadian Underwriter | January 14, 2013
1 min read
The insurance and reinsurance industries should begin to consider the potential consequences of a severe space weather event, says global reinsurance company Aon Benfield. Solar and geomagnetic activity in particular will peak in the next year, the company says as part of its release of a new report from this month, called Geomagnetic Storms. “Although […]
2 min read
A survey of small and medium enterprises (SMEs) in the United Kingdom shows an increased appetite for expanding business operations in 2013, and further indicates 69% of respondents feel confident they have the right insurance in place for their business compared with 51% in 2011. Only 12% of the 500 SMEs polled as part of […]
The current outbreak of influenza in the United States is the most widespread outbreak of the virus since the H1N1 pandemic in 2009-2010, insurer Zurich North America said Friday. The company has released two “risk bulletins,” posted on its website, to help businesses keep employees healthy and minimize the impact on business continuity. Read the […]
By Canadian Underwriter | January 11, 2013
Claims services firm Cunningham Lindsey Canada has launched a new division, Cunningham Lindsey Research Services Inc (Research Services), offering investigative, surveillance and information services to the insurance industry. The new division is geared toward the Canadian insurance industry but also services the needs of corporations, lawyers and private individuals, the company says. “Research Services provides […]
Environment Canada issued several weather warnings for the nation Friday, including blowing snow on the island of Newfoundland and southern Saskatchewan, with the possibility of minor coastal flooding in southeastern Newfoundland. High waves were expected for some areas of Newfoundland, which has been hit with widespread power outages, while drivers in parts of southeast Saskatchewan […]
Fraudulent home improvement offers following superstorm Sandy last fall have made the top 10 list of scams in 2012. The Better Business Bureau in the United States published a list of the top scams for the year this week. “BBB spends a lot of time investigating and reporting on home improvement scams, but this year […]
A recent findings report on the use of credit scores to help determine insurance premiums in Ontario suggests that transparency in providing information to policyholders should be the primary concern for insurers who use the controversial tool. In mid-December, the Office of the Privacy Commissioner of Canada reported its findings on a complaint launched in […]
By Canadian Underwriter | January 10, 2013
4 min read
Insurance giant AIG announced Wednesday that it has entered into a reinsurance deal with Compass Re Ltd., which will provide $400 million of peak-zone protection against U.S. hurricanes and earthquakes. Bermuda-based Compass Re has issued a $400 million catastrophe bond in a single tranche for the deal. The transaction closed on Dec. 27 and provides […]
By Canadian Underwriter | January 9, 2013
Elliott Special Risks (ESR) has bid farewell to its senior vice president and underwriting manager Anne Toms, who retired Dec. 31 after 27 years with the company. Toms began her insurance career in 1970 with the “Canadian Indemnity Company,” where she attained the position of Assistant Casualty Manager (Ontario branch), then Casualty Supervisor (Toronto Brokers […]
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