Industry
Crawford & Company (NYSE: CRDA; CRDB) has announced that Glenn Gibson is leaving his role as executive vice president for global strategy, projects and development to become CEO of a consulting practice the company is building in Canada. In his new role, Gibson would be responsible for further developing Crawford’s Canadian consulting practice in the […]
By Canadian Underwriter | July 19, 2012
1 min read
The Centre for Study of Insurance Operations (CSIO) has appointed Pranab Pandey to the position of manager of standards and business process improvements. Pandey joins CSIO from TATA Consultancy Services, where he held various positions in project management, operations and enterprise applications design and implementation. He has more than five years of specialized experience in […]
FirstOnSite Restoration is expanding its operations to the United States. Currently, FirstOnSite works with U.S. clients who have property in Canada. This new initiative brings the company to American soil to serve Canadian customers who have property in the United States, as well as U.S. customers directly. FirstOnSite’s team has responded to some of the […]
Insurance companies are investing heavily in analytics and “big data” to seek competitive advantages and discover opportunities in pricing and fraud prevention, a new study has found. The research survey, commissioned by ACORD and conducted by Strategy Meets Action (SMA), found that insurers in North America are spending close to $10 billion each year on […]
Crop hail claims are off to a brisk start in Saskatchewan, based on the latest figures from the Canadian Crop Hail Association, published in the July 6, 2012 edition of the Hail Report. Companies providing hail insurance to farmers reported approximately 2,200 claims filed by the middle of the week of July 2-6. “This is […]
By Canadian Underwriter | July 18, 2012
2 min read
Canada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), is proposing to change the basis on which it calculates minimum and non-minimum assessments. OSFI has suggested using “required capital” as a proxy for how much time and resources it devotes to assessing insurers instead of “net premiums.” The regulator is also planning […]
3 min read
e-djuster Inc., a technology solutions provider, has acquired The Claims Network (TCN), a privately held, Winnipeg-based company that offers software solutions to the property and casualty industry. e-djuster says the deal will give the company national reach and improve its Canadian market-share position as a leading provider of content claims solutions for the property claims […]
By Canadian Underwriter | July 17, 2012
Food industry companies that choose to use ozone disinfection could see insurance premium discounts of as much as 15%. The discounts would apply to food contamination and products recall coverage. Eco-Safe Systems USA Inc. — manufacturer of a patent-pending system that produces ozonated water for food disinfection and water purification — is working with Kensington […]
By Canadian Underwriter | July 16, 2012
Higher claims costs contributed to Manitoba Public Insurance (MPI) witnessing a reduction in net income for 2012 Q1. Net income was $30.1 million for the three months ending May 2012, down $10.9 million from the $44.2 million for the same period in 2011, notes a statement from MPI, whose fiscal year begins Mar. 1. Bodily […]
The insurance industry is following closely on the heels of leading investors in social media, such as retailers and communications companies, according to a new report from market and technology research firm International Data Corporation (IDC). It identified insurers as “early adopters” across six major vertical markets including financial services, government, health care, manufacturing, retail […]
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