Industry
New research will provide a “clearing house” of information on wildlife-vehicle collisions, an issue that costs more than $200 million per year, according to the Traffic Injury Research Foundation (TIRF). TIRF is creating a database that will summarize all available data about these collisions in Canada and look at ways to made roads safer and […]
By Canadian Underwriter | April 24, 2012
1 min read
The ACE Group has announced new leadership appointments in its Canadian operations. Andrew Hollenberg, regional senior vice president of accident and health (A&H) and life for ACE Europe, has been appointed as country president of ACE Canada. In this position, Hollenberg will oversee ACE’s property and casualty, life and accident and health insurance operations in […]
SCM Risk Management Services (RMS) has launched iClarify services to Alberta brokers using the Compu-Quote and PowerQuote platforms. The initial launch focuses on Calgary, Edmonton, Lethbridge, Red Deer and Medicine Hat, with enhanced data and imagery continuing to go live throughout 2012. “We are excited to offer iClarify’s residential data validation platform to Alberta brokers […]
Two-thirds of drivers in the Greater Toronto Area (GTA) say they would likely try pay-as-you-drive (PAYD) insurance if it were available, notes a study by the Pembina Institute, a non-profit think tank that promotes sustainable energy solutions. The institute’s study offers policy options on how to avoid traffic congestion in the GTA, canvassing the opinions […]
By Canadian Underwriter | April 23, 2012
2 min read
The energy sector experienced one of its worst years ever for non-windstorm-related losses, with almost $9 billion in combined insured and uninsured total losses, according to a study by global broker Willis. Severe losses in the Alberta oil sands and the floating production and storage offshore (FPSO) sectors contributed to the negative loss picture, says […]
The property and casualty insurance industry will see improving growth through 2014, but this will be tempered with a low interest rate environment and a sluggish economy recovery, according to research firm Conning. “Conning’s 2012 forecast is for net premium growth over 2011 approaching 4%, as insurers benefit from a more stable economy and modest […]
By Canadian Underwriter | April 20, 2012
U.S. risk managers now have evidence of gradual price increases in key commercial lines firmly on their radar screens, says a recent survey from Towers Watson. The 2012 Risk and Finance Manager Survey found nearly two-thirds (63%) of survey participants are either seriously or moderately concerned about a hardening property and casualty insurance market. In […]
Aviva plc is eliminating its regional layer in an effort to simplify the company and sharpen its business focus. As part of its revised structure, Aviva is appointing the leaders of its three major businesses to the Group Executive Committee (GEC), resulting in shorter and more direct reporting lines from individual countries to GEC members. […]
B.C.’s “de-harmonization” of its Harmonized Sales Tax (HST), effective Apr. 1, 2013, could mean Canada’s property and casualty industry stands to benefit approximately $31 million by the tax’s removal. But tax policies in Quebec and Manitoba may end up erasing the positive impact of this adjustment, said Deloitte partner Danny Cisterna, who spoke at the […]
By Canadian Underwriter | April 19, 2012
SGI Canada reported record net storm claims costs of more than $32 million in 2011, according to the company’s annual report released Apr. 17. The competitive arm of Saskatchewan General Insurance (SGI), SGI Canada said that a “high number of fire losses” contributed to the claims figure. It was exposed to the Slave Life wildfire […]
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