Industry
Sarina Visram has been named manager of member relations and communications for the Centre for Study of Insurance Operations (CSIO). In her new role, Visram will work to develop and implement programs and activities that improve membership engagement and promote CSIO’s technology standards and solutions. CSIO has a membership of more than 2,100 brokerages, 21 […]
By Canadian Underwriter | May 29, 2012
1 min read
Ontario homeowners could see a reduction in home insurance premiums as part of a partnership between Allstate Insurance Company of Canada and Rogers. In markets where Smart Home Monitoring from Rogers is available, Allstate Canada customers who install the system will be offered a 25% discount on their premiums. They will also receive a free […]
Canadian manufacturers experienced somewhere between $3 billion to $5 billion in lost production as a result of natural disasters such as Japan and Thailand in 2011, Jayson Myers, president and CEO of Canadian Manufacturers & Exporters, said during a webinar last week. Japan’s Tohoku earthquake and the Thailand floods revealed immediate disruption to supply chains […]
By Canadian Underwriter | May 28, 2012
2 min read
Claims costs for Ontario auto insurers remain high despite the gains realized as a result of the provincial reforms in 2010, notes the Insurance Bureau of Canada’s (IBC) submission to the Ontario Committee Hearings on Auto Insurance on May 28. “While the September 2010 reforms were a needed first step in reducing the pressure on […]
The Economical Insurance Group (TEIG) increased its net income by $11.9 million in 2012 Q1, the company reported. “Our first-quarter results show that Economical is continuing to produce strong profitable growth,” Karen Gavan, TEIG president and CEO, said in a press release. “The company registered 41% growth in net income over the same quarter of […]
By Canadian Underwriter | May 25, 2012
The Dominion earned a net income of $32.4 million in 2012 Q1, an increase over the $21.4 million for the same period in 2011. “The increase over the prior year’s first quarter is due mainly to better underwriting results,” the company reported. The combined ratio for the quarter was 97.1% (102.3% in 2011 Q1) and […]
Chief risk officers (CROs) of property and casualty and life insurance companies in North America now have a knowledge-sharing network for peer networking, expert access and discussion of topical issues in enterprise risk management. Professional services company Towers Watson launched the “CRO Network” on May 23 to provide an ongoing series of event, conferences, webcasts […]
A guideline from the federal privacy commissioner on how organizations should handle data security is a “very important document” for privacy management, says Matthew Davies, a senior underwriting specialist with Chubb Canada. The Office of the Privacy Commissioner of Canada and its counterparts in British Columbia and Alberta released the guidance document, entitled Getting Accountability […]
By Canadian Underwriter | May 24, 2012
Intact Financial Corporation president Louis Gagnon repeated his prediction that about 25% of the existing property and casualty insurance market share will change hands in the next five to 10 years. “There will be a reshuffle of a quarter of the market share. So we believe that there’s still, definitely, some possibility in Canada to […]
By Canadian Underwriter | May 23, 2012
Canada’s solvency regulator is monitoring the dialogue among international supervisors about how much of a role regulators should play in deciding who can be the director and chief risk officer of a financial institution. Speaking to the International Institute of Finance in Madrid, Spain on May 21, 2012, Julie Dickson, superintendent of the Office of […]
By Canadian Underwriter | May 22, 2012
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