Industry
In a unique attempt to protect its brand reputation, Abercrombie & Fitch (A&F) offered to pay cast members of the MTV series ‘The Jersey Shore’ to not wear its clothing. Whether or not the strategy was successful is debateable though, the day after making the offer, A&F’s stock dropped nearly 9%, reported the Chicago Tribune.A&F […]
By Canadian Underwriter | August 19, 2011
1 min read
QBE the Americas Division reported a combined ratio of 88.9% in the first half of 2011, marking an improvement from the 91% reported during the same period of 2010.Gross written premiums increased 50% to $3.5 billion in 2011 H1, compared to $2.3 billion in 2010 H1. “This was due to several recent acquisitions – the […]
Saskatchewan continues to see an increase in crop hail claims, swelling from 5,500 two weeks ago to 7,900, reported the Canadian Crop Hail Associaiton (CCHA).The CCHA attributes the uptick to Aug. 6 storm activity, with areas in a line from Southey through Regina to Weyburn being hit, as well as areas in the northwest, it […]
Canadians are buying insurance without understanding their coverage and do not know how to make a claim when the unexpected happens, according to a survey commissioned by Allstate Canada.Leger Marketing surveyed 1,514 Canadians, 18 years of age or older and that held either home, tenant and/or car insurance. Findings from the survey include:•48% of Canadians […]
By Canadian Underwriter | August 18, 2011
Greg Dunn has been appointed executive vice president of Claims and Customer Service Operations (C&CSO) at Aviva Canada. C&CSO comprises claims, complex claims, broker and customer care, strategy and shared services and performance assessment and analytics.Dunn joined Aviva Canada in 2004 as vice president, corporate development for Pilot Insurance Company. He most recently served as […]
Western Financial Group, which provides insurance services in rural communities across Western Canada, is now setting its sights on Alberta’s urban markets.Western Direct Insurance, a new subsidiary of Western Financial Group, has begun offering direct home and auto insurance by telephone and over the Internet to consumers in Calgary, Edmonton and smaller Alberta cities, underwritten […]
By Canadian Underwriter | August 17, 2011
Farmers’ Mutual Insurance has established a ‘CARE’ committee charged with the mission to Create A Ripple Effect. “Success is most impactful when it is invested and shared in meaningful ways,” Farmers’ president and CEO Tim Shauf said in a president’s message in the company’s 2010 annual report. “We believe that by staying true to our […]
Fairfax Financial Holdings (TSX: FFH) reported a net income of $83.3 million in 2011 Q2, marking an increase from 2010 Q2’s net income of $23.7 million.The increase in earnings arose primarily from net gains on investments of $119.6 million during 2011 Q2, a vast improvement from the net losses on investments of $29.3 million during […]
British Columbia is rolling out changes to its licensing requirements for off-road vehicles, reported the Times Colonist.As of Fall 2011, only a licence will be required for crossing highways at designated areas, rather than the operations permit currently required, Vivian Thomas, spokeswoman for the Minisitry of Forests, Land and Natural Resources told the Times Colonist […]
Saskatchewan property and casualty insurers saw a 20% increase in their loss ratios between 2009 and 2010, from 58.4% to 70.1%, reported the province’s Superintendent of Insurance in its 2010 Statistical Report. Overall, Saskatchewan property and casualty insurers saw an 8% increase in premiums written between 2009 and 2010, from $2.07 billion to $2.23 billion. […]
By Canadian Underwriter | August 16, 2011
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