Industry
Global casualty insurance rates and property insurance rates for American firms rose during the third quarter of this year while competition for natural catastrophe insurance is intense for mid-sized energy projects, according to a recent report published by Marsh Inc. “Casualty insurance rates globally rose on average by 1.2% on renewal in the quarter, higher […]
By Canadian Underwriter | October 12, 2012
2 min read
The massive safety recall issued by Toyota Motor Corp. on Oct. 10 affects about 240,000 vehicles in Canada, out of about 7.4 million globally. The recall relates to a problem with the power window master switch that could become “sticky” during operation because of improperly applied grease, leading to possible smoke or fire under some […]
By Canadian Underwriter | October 11, 2012
1 min read
The United States government is warning drivers about counterfeit airbags that are a serious safety risk. The Department of Transportation’s National Highway Traffic Safety Administration (NHSTA) issued a warning about counterfeit airbags used as replacement parts in vehicles that have been involved in a crash, it said in a statement. The replacement airbags look almost […]
The Financial Services Commission of Ontario is about to implement more changes to the Health Claims for Auto Insurance (HCAI) System, with new versions of certain forms mandatory as of next month. The changes, previously announced in June, will apply to documents delivered on or after Nov. 1, regardless of when the accident occurred. With […]
Net income after taxes increased while net losses and loss adjustment expenses (LAEE) decreased year-over-year for American non-government property and casualty insurance firms, due in part to a reduction in losses from catastrophes for the first six months of 2012, according to a New Jersey think tank. ISO, a unit of Jersey City-based Verisk Analytics […]
By Canadian Underwriter | October 10, 2012
Financial results for the Canadian property and casualty insurance sector improved year-over-year during the first six months of 2012, according to industry experts. Net income for the industry increased 57.5% (to $2.100 billion during the first six months of 2012 from $1.333 billion during the same period in 2011), according to a table published by […]
For insurance professionals looking to gain a competitive edge and stand out via social media, touting their products on Twitter isn’t enough. “In our mind, the next battlefield will be around customer experience,” said Sylvie Paquette, president and COO of Desjardins General Insurance Group during a panel at the recent National Insurance Conference of Canada […]
By Canadian Underwriter | October 9, 2012
The Insurance Brokers Association of Canada has announced its chariman, Dale Rempel, has passed away. The organization released this statement: “It is with great sadness that the Insurance Brokers Association of Canada announces the passing of its Chairman, Mr. Dale Rempel. Dale was the owner of Rempel Insurance Brokers in Morris, Man. and a lifelong […]
Property and casualty insurer RSA Canada has appointed Tony Hayes as its new vice president of sales and marketing, effective immediately. He was previously responsible for the national sales strategy for the insurer’s personal and commercial insurance portfolios. In his new role, Hayes will be responsible for leading RSA’s sales, distribution and broker development strategies […]
Insurer CNA Canada has joined a countrywide initiative to fight cargo and heavy equipment theft by using two national information-sharing systems, recently launched in Canada. CargoNet and the National Equipment Register (NER) launched in Canada last month, with several industry partnerships already developed, including with the Canadian Trucking Alliance. The systems allow theft victims, […]
By Canadian Underwriter | October 5, 2012
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