Industry
Ontario witnessed the largest reduction in car insurance rates among the three provinces considered in Kanetix Ltd.’s latest quarterly, year-over-year review. Customers saw rates go down 3.6% compared with 2011 Q1, notes a statement from Kanetix, an online insurance marketplace. Suggesting an early positive trend fueled by Ontario’s auto reforms in 2010, the decrease is […]
By Canadian Underwriter | April 16, 2012
1 min read
Catastrophe-exposed properties are seeing insurance premium increases as high as 15%, according to a report from Willis Group Holdings. While cat-exposed property rate hikes have been in the 5% to 15% range over the last six months, non-cat exposed property renewals are “flat,” Willis noted. “While Willis expects rates for catastrophe risk to continue to […]
More than 100 reported tornadoes tore through several U.S. Midwestern states over the weekend, with the town of Woodward, Oklahoma hit by a twister that left at least five people dead and more than two dozen injured. The National Weather Service’s Storm Prediction Centre in Norman, Oklahoma issued a warning on Apr. 13 about the […]
A significant gap still exists in many organizations between how risk managers and senior company leaders view the role of risk management, according to a report released by Marsh and the Risk and Insurance Management Society (RIMS). The report, Bridging the Gap: Be Visible, Be Valuable, Be Strategic, was released during a press conference at […]
2 min read
Texting while driving is not as dangerous as drinking and driving, according to U.S. teens participating in a 2012 survey commissioned by State Farm. Harris Interactive conducted a telephone survey of 652 U.S. teens between the ages of 14 and 17 in February, including 280 who have a driver’s license or permit and 362 who […]
By Canadian Underwriter | April 13, 2012
Quebec-based Industrial Alliance is introducing a new way of insuring younger drivers that tracks behaviour behind the wheel. Based on the pay-as-you-drive model, “Mobiliz” uses telematics technology to monitor distance travelled as well as three driving behaviours: speeding, forced acceleration and hard braking. Industrial Alliance says it will provide free installation of a GPS-type module […]
Substantial catastrophe losses led to a 3% reduction in total global reinsurer capital last year, according to a report from Aon Benfield. The Aon Benfield Aggregate analysis, which examines results from the world’s top 28 reinsurers, notes that reinsurer capital was $455 billion at the end of 2011, down from $470 billion a year earlier. […]
Alberta businesses can now obtain commercial auto insurance through Kanetix.ca, an online comparison service. Two services from SGI Canada are new to Kanetix.ca’s online roster. First, customers need only complete a short online form to view commercial insurance quotes for multiple drivers or multiple vehicles. Second, with Alberta’s oil patch in mind, the website now […]
Burns & Wilcox Canada is opening a new office in St. John’s, Newfoundland, as the first step in the company’s plans to build a strong presence in Atlantic Canada. Burns & Wilcox Canada offers more than 300 products to the Canadian brokerage community. It was recently created through the acquisition of the Chesterfield Group. Steve […]
A wave of distributed denial-of-service attacks plagued financial services companies during the first quarter of this year, according to a report from Prolexic Technologies Inc. A distributed denial-of-service attack is one in which several compromised systems attack a single target, causing denial of service for legitimate users. The flood of incoming messages to the target […]
By Canadian Underwriter | April 12, 2012
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