Industry
Reform-influenced auto insurance rates filed with Ontario’s regulator in 2010 Q2 show an average rate decrease of 1.03%, when weighted by market share.The 2010 Q2 rates take into account the province’s auto insurance reforms and will become effective when the reforms are implemented on Sept. 1, 2010.The rate changes approved in 2004, 2005, 2006, 2007, […]
By Canadian Underwriter | July 15, 2010
1 min read
Manitoba Public Insurance (MPI) reported a net income of $102.9 million for 2010 Q1, marking an increase over the net income of $17.3 million reported in 2009 Q1.Claims costs for the first fiscal quarter decreased by $85.2 million (to $105.4 million) when compared with the same period of 2009. MPI attributes the decrease to a […]
The vast majority of B.C. drivers report they no longer drive while using hand-held devices, but these same drivers report seeing other drivers using hand-held devices and feel the likelihood of being caught for doing so is low, according to a survey by the British Columbia Automobile Association (BCAA).B.C. implemented its distracted driving law on […]
The Co-operators today announced $253,050 in donations to Canadian charities selected by Co-operators staff members, directors and delegates. The contributions are part of the organization’s Directed Donations program, in which staff members each direct $75 of corporate funds and directors and delegates steer $125 to the charitable organization of their choice. In total, 3,164 staff […]
By Canadian Underwriter | July 14, 2010
Manitoba Public Insurance (MPI) is now posting on its Web site details about sanctions imposed by the Registrar of Motor Vehicles.Recent amendments to The Drivers and Vehicle Act give MPI the authority to publish information about sanctions against permit holders who fail to comply with the law and accepted business practices. Permit holders include auto […]
Managing product or service quality is the top outsourcing risk to organizations, yet less than half of respondents to an ESI International survey report having a strong risk management culture.ESI International surveyed 615 contractor managers, subcontractor buyers, project managers, senior executives and “key decision makers in outsourcing” from around the world (including Canada).Nineteen per cent […]
Canadian mergers and acquisitions (M&A) activity is down 30% over the first half of 2010, compared to the same period last year, according to a mergermarket Canada survey. Overall, Canadian M&A activity totalled US$29.6 billion, down from the US$42.5 billion in the first half of 2009, and the lowest recorded half-year total since 2005.Mega-deals of […]
By Canadian Underwriter | July 13, 2010
Major retail chains are more highly involved in the distribution of insurance in South Africa and Latin America than they are in North America, according to a global survey conducted by Research and Markets.The study, Global Retailer Insurance: Affinity Schemes in Supermarkets and other Stores, looks at the activities of more than 100 major retailing […]
The U.S. property and casualty industry posted a net income of $11.5 billion in 2010 Q1, marking a rebound from the net loss of $900 million posted in the same period of 2009, reports AM Best.The turnaround was driven primarily by improving financial markets and came despite “an unusually high level” of catastrophe-related losses, said […]
RSA Canada employees raised $241,000, volunteered 5,200 hours and donated 56,000 items to charities in communities across the country.The fundraising and volunteer initiatives were part of a global effort to mark RSA’s 300th anniversary. The campaign ran from April 7 to June 25, and RSA gave each employee one day off work to volunteer in […]
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