Industry
Almost 90% of respondents in a 2010 University of Calgary study failed a basic, rules-of-the-road test modeled after the province’s Class 7 learner’s permit exam.”It’s shocking,” says Sabreena Anowar, an engineering graduate student who specializes in road safety and analyzed the survey data. She was interviewed about the survey results in the university’s online news […]
By Canadian Underwriter | October 6, 2010
2 min read
The Co-operators has launched an application enabling insureds to submit home and auto insurance claims using their iPhone, iPad or iPod Touch.After downloading ‘Mobile Assist,’ insureds can input their basic home and auto insurance information into their profile so it’s readily available should they need to submit a claim.Claims are submitted through a secure transmission, […]
1 min read
The U.S. government did not allow American International Group (AIG) to go bankrupt in part because AIG’s failure would have been “catastrophic” to the insurance industry as a whole, according to the U.S. Treasury’s Two-Year Retrospective Report on the Troubled Asset Relief Program (TARP).At the time of the crisis, the report notes, AIG was the […]
The operating results of Canada’s federally licensed property and casualty insurers still have not recovered to pre-financial crisis levels, Canada’s federal solvency regulator notes in its 2009-10 annual report.”The operating results of the property and casualty (P&C) insurance sector have been significantly lower in the past two years compared to immediately preceding years,” the Office […]
Auto insurance rate quotes obtained on kanetix.ca increased in both Ontario and Alberta, but decreased in Quebec in 2010 Q3.Ontario saw the sharpest increase, with quote rates increasing 19.3% between 2009 Q3 and 2010 Q3. Some consumers saw multiple rate increases throughout the year, reported Kanetix. “On a positive note, the trend may be changing,” […]
By Canadian Underwriter | October 5, 2010
The Financial Services Commission of Ontario (FSCO) has discontinued mailing paper licences.As of Oct.1, 2010, FSCO provides electronic versions of insurance licences. There is no requirement under the Insurance Act for licensees to carry or maintain a printed version of a licence. Licensees, insurers, and the public can verify the status of a licence at […]
It is important for adjusters to determine whether or not a claimant has been scamming Revenue Canada when considering the claimant’s entitlement to income replacement benefits (IRBs), according to Donna Ford, an investigator with Northwood & Associates. “If a person is trying to cheat an insurer with respect to an IRB claim, you can almost […]
Fire damage increases at a rate of approximately US$2,400 for each minute it takes fire services to respond to a call, according to a study of fire service response times in New Zealand.The Relationships Between Fire Service Response Time and Fire Outcomes, published in 2009 by Neil Challands of the New Zealand Fire Service, used […]
Manitoba Public Insurance (MPI) is reporting a net loss of $35.5 million for 2010 Q2.”This net loss reflects an increase in severe weather, including hail-related claims,” said Don Palmer, MPI’s vice president of finance and chief financial officer.MPI reported a 2010 Q1 net income of $102.9 million, but said this would not likely be sustained […]
Seventy-five per cent of Canadians drive distracted, despite the fact that nearly all Canadians view distracted driving negatively, according to an Allstate Canada poll conducted by Leger Marketing. The most common forms of distracted driving include talking on a mobile phone or texting while driving, changing a CD, eating or drinking, using an electronic device […]
By Canadian Underwriter | October 4, 2010
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
