Industry
The odds of being injured in a crash are 25% lower for people in hybrids than people travelling in non-hybrid vehicle models, the Insurance Institute of Highway Safety (IIHS) found. IIHS cited a study conducted by its affiliate, the Highway Loss Data Institute (HLDI). In the study, HLDI estimated the odds that a crash would […]
By Canadian Underwriter | November 21, 2011
1 min read
Alcohol-related road deaths are decreasing in Canada, according to the Traffic Injury Research Foundation (TIRF). In Canada, alcohol has been a factor in 30% to 40% of road deaths for the past 15 years. Although the percentage of alcohol-related road deaths in Canada has hovered between 30% and 35% for the past decade, data show […]
Insurance Bureau of Canada (IBC) and Groupement des assureurs automobiles (GAA), have completely redesigned their infoinsurance.ca website to answer most frequently asked questions by consumers more effectively.IBC shares the site with the GAA, which performs a wide range of activities related to the auto insurance industry, both on behalf of its members and as an […]
By Canadian Underwriter | November 18, 2011
The Insurance Brokers Association of Ontario (IBAO) has publicly recognized the recent introduction by Custom Software Solutions Inc. (CSSI) of new technology that enables PDF Dec pages to be accepted as part of the Centre for Study of Insurance Operations (CSIO) download standards.The new innovation allows insurance companies and brokers to transmit documents through an […]
Expect insurance-linked securities (ILS) to be the next evolution of product support and development coming out of the Bermuda reinsurance market, says the CEO of the Bermuda Stock Exchange (BSX). Greg Wojciechwski spoke to Canadian Underwriter in a telephone interview while visiting with Canadian business leaders in Toronto on Nov. 17. In the conversation, he […]
By Canadian Underwriter | November 17, 2011
2 min read
CARSTAR Automotive Canada has launched the Unhappen My Accident iPhone application. The free app is now available for download from the Apple iTunes App store or at www.carstar.ca/eng/iphone_app.aspx. It works by storing critical driver and accident information such as insurance, vehicle, and emergency contact details. One press of a button displays the necessary steps to […]
A.M. Best Co. has affirmed the financial strength rating (FSR) of A+ (Superior) and issuer credit rating (ICR) of “aa-” of The Wawanesa Mutual Insurance Company. “The ratings and outlook of Wawanesa are reflective of its superior risk-adjusted capital, balance sheet strength, good geographic diversification and market leadership position,” according to A.M. Best. “Wawanesa’s ranking […]
Zurich has launched a new surety bond intended to help contractors deliver Public Private Partnership (PPP) projects.Zurich says its Public Private Partnership Performance Bond enables large construction projects to benefit from favourable financing treatment while maintaining the public policy, project completion and subcontractor payment benefits of traditional surety bonds.”One important aspect of this surety bond […]
By Canadian Underwriter | November 16, 2011
The Insurance Brokers Association of Alberta (IBAA) presented Slave Lake Victim Services with a cheque for $12,960.00 on Nov. 7, 2011 to help offset the costs of the Slave Lake fire in May 2011.IBAA local councils and individual brokers donated the funds during and after IBAA’s 2011 Convention in May. The donation will be used […]
An eight-year soft market in U.S. commercial lines may finally have hit rock bottom, according to The RIMS Benchmark Survey.Administered by Advisen Ltd., the survey tracks changes in average program renewal premiums for director and officers’ liability (D&O), general liability (GL) property lines and workers’ compensation, as reported by risk managers. Of the four lines, […]
By Canadian Underwriter | November 15, 2011
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