Industry
B.C. drivers overestimate the benefits of an extra hour of sleep that comes with the end of Daylight Savings Time (DST), causing drivers to experience greater risks on the road, an ICBC survey found.There is a 10% increase in the average number of crashes in the province’s Lower Mainland during the late afternoon commute in […]
By Canadian Underwriter | November 7, 2011
1 min read
Customers in Quebec appear to have the highest level of satisfaction with their home insurers, compared to customers in the Western and Ontario/Atlantic regions, according to JD Power and Associates.The ‘2011 Canadian Home Insurance Study’ measures home insurance customers’ experiences with their primary insurer. Customer satisfaction with home insurance providers is examined in five factors: […]
By Canadian Underwriter | November 4, 2011
Canadian activist Craig Kielburger will serve as the keynote speaker at The Insurance Institute of Ontario’s Toronto Convocation & Awards Night on Jan. 26, 2012.Keilburger, founder of the international charity Free the Children, is one of the youngest recipients of the Order of Canada and the youngest graduate-ever of the Kellogg-Schulich executive MBA program.”Sure to […]
CGI Group Inc. has developed a service, powered by SAS, that is designed to assist Canadian property and casualty insurers detect insurance fraud. The fraud detection solution will provide participating insurers with access to a service that leverages policy and claims data hosted by and managed by CGI and employs SAS fraud detection technology, including […]
The Chubb Group of Insurance Companies has launched an interactive online resource and community addressing risk management challenges for businesses and individuals.‘Risk Conversation,’ can be found at www.riskconversation.com, includes loss prevention information, blogs and risk assessment tools that help users identify, understand and mitigate the wide variety of risks they encounter in their personal and […]
The stability of the global insurance sector and its ability to absorb massive catastrophe losses could signal a sharp increase in demand in the near future, Willis suggested in a report. In its report, Marketplace Realities: Solid Footing and a Foundation for Growth, Willis reported flat to modest rate increases or decreases across major and […]
By Canadian Underwriter | November 3, 2011
2 min read
The Co-operators General Insurance Company reported a Q3 profit of $6.2 million, marking a dramatic improvement from its 2010 Q3 loss of $8.9 million.The combined ratio (excluding the market yield adjustment) for 2011 Q3 was 101.1%, marking an improvement from 111.7% during the same period of 2010.Favourable claims development in the Ontario auto line of […]
Western Financial Group has acquired Watrous Insurance Brokers Ltd. in Watrous, Saskatchewan. The Watrous brokerage, which has been serving the community since 1989, will now operate as a Western Financial Group office. The Western office will remain at 107 Main Street in the town centre of Watrous. “Watrous is another superb addition to our network […]
Swiss Re reported a 2011 Q3 net income of $1.3 billion, marking an 11% increase from its 2010 Q3 net income of $600 million. The reinsurer’s property and casualty unit reported an increase in combined ratio to 80.8%, from 2010 Q3’s 76.4%, a release says.”The floods in Thailand are expected to have a severe impact […]
RSA Canada’s acquisition of GCAN last year proved to be a significant component of the premium growth RSA’s parent company in the United Kingdom reported in 2011 Q3.The RSA Group’s international net written premiums of £2.992 billion [Cdn$4.8 billion] were up 13%, the company reported in its Q3 2011 Interim Management Statement. Overall, RSA’s net […]
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