Industry
A recent Accenture survey of Canadian and U.S. consumers shows people prefer to buy insurance from an agent, but an increasing number of people in the 25- to 34-year-old age bracket are planning to buy insurance products online. Nearly two-thirds (64%) of U.S. and Canadian consumers are planning to renew or purchase insurance products through […]
By Canadian Underwriter | May 24, 2011
2 min read
Duck Creek Technologies Inc. has launched a product development suite designed to improve efficiencies by allowing insurers to control all aspects of the insurance product development and maintenance process.EXAMPLE Product Studio enables insurance product managers to model, manage, modify and monitor their products, a Duck Creek release says. It works in tandem with Duck Creek’s […]
1 min read
With thousands of acres of farmland still under water, Saskatchewan Government Insurance (SGI) is waiving seeding eligibility requirement for farm plates in 2011.The farm plate eligibility exemption was first granted in 2010 and was set to expire on June 1, 2010. However, with farmers throughout the province facing an unusually wet seeding period for the […]
By Canadian Underwriter | May 20, 2011
TD Insurance has set up temporary claims centres to assist customers after wildfires have burned more than 400 lots in the Slave Lake region of Alberta.TD Insurance said its representatives are on-site at evacuation centres established in Athabasca, Westlock and Edmonton to answer questions and handle claims processing, providing customers with immediate financial assistance and […]
Alberta’s insurance brokers have been unable to get Alberta Agriculture and the Alberta Financial Services Corporation to back down from their intention to sell hail and crop insurance from their Web site. “We oppose this action as it will eliminate some of our members’ business portfolios and it means a government agency is competing for […]
Working with Brovada, Grenville Mutual Insurance Company has announced it will soon begin a broker pilot of new business automobile upload, with residential following later this year.Grenville is also adding agribusiness inquiry to its growing list of automobile, residential, commercial and farm inquiry transactions. Grenville’s inquiry functionality went live in August 2010.”Since late September 2010, […]
The Government of Alberta has posted detailed wildfire damage maps showing a total of 433 lots destroyed in the Town of Slave Lake and Municipal District of Lesser Slave River areas, with another 84 damaged.The maps show 374 lots destroyed in the Town of Slave Lake, with another 52 damaged. In the Municipal District of […]
Canada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), is casting a watchful eye on the interconnected financial risks associated with a prolonged global economic recovery.In response, the regulator has made it a priority to address capital requirements associated with a weak global economic recovery. In its Plan and Priorities for 2011-2014, […]
By Canadian Underwriter | May 19, 2011
Insurance company and independent adjusters continue to pour into the area of the Town of Slave Lake, Alberta to aid displaced residents and help in recovery efforts, after wildfires have consumed much of the of the town since before May 15.Roughly 7,000 residents in Slave Lake have been ordered to evacuate. Alberta put up $50 […]
3 min read
The Autorité des marches financiers (AMF) has launched a brochure educating consumers on the sale of insurance products by unlicensed distributors. In particular, AMF reminds consumers applying for automobile financing or a mortgage on a home, the lender or merchant may offer:•life, health and loss of employment insurance on the loan;•travel insurance (generally offered by […]
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