Industry
A study by the University of Rochester Medical Centre shows the average age of the typical injured motorcyclist in the United States has increased from 34 years to 39 years between 1996 and 2005.The study reviewed the hospital records of 61,689 motorcyclists aged 17 to 89 years of age involved in a motorcycle crash.The proportion […]
By Canadian Underwriter | April 12, 2010
1 min read
Members of the insurance industry have teamed with the Canadian Trucking Alliance (CTA) to launch a study examining cargo crime activity in Canada.Markel Insurance Company of Canada, Marsh Canada Limited and Zurich Canada are working alongside CTA, provincial trucking associations and law enforcement agencies to study cargo theft and explore solutions for the problem.Although each […]
A non-profit organization called ORBiT (Organization of Real-Time Brokers Implementing Technology) is currently assessing the degree to which carriers and brokers have taken up the use of real-time technology in their organizations.“Real time” is defined as the ability to click on a button from a client file in a brokerage management system (BMS) for immediate […]
By Canadian Underwriter | April 9, 2010
2 min read
CGI Group Inc. (TSX: GIB.A; NYSE: GIB), an information technology and business process services provider, says it has extended its current contract with Portage La Prairie Mutual Insurance Company, a 100% Canadian-owned mutual insurance company, until 2014. The enterprise solution and IT outsourcing agreement extends the existing agreement by five years.“CGI and Portage Mutual have […]
Capital in the global reinsurance market increased 24% in 2009 from 2008, but market conditions for most lines of business are compressing underwriting margins, reports A.M. Best.In its report, Reinsurers Battled Headwinds of Softening Market in 2009, A.M. Best says the global reinsurance segment has struggled to maintain its top line over the past year.“Despite […]
The Nova Scotia government has inked a deal with RSA Canada that will provide the insurer with up to a $2.7-million payroll rebate.The company and the province, through Nova Scotia Business Inc. (NSBI), have signed a six-year payroll rebate of up to $2.7 million. The rebate is paid annually based on performance targets, a NSBI […]
By Canadian Underwriter | April 8, 2010
Facility Association (FA) volumes have not gone up as expected, raising a few eyebrows among FA executive members.FA numbers increased significantly in 2003-04, when auto insurers in Canada faced rising claims costs in a hardening market. Similar auto insurance market conditions are present now in 2009-10.And yet, thus far, insurers have not responded to these […]
Last year the United States saw the lowest value of insurance transactions since 2002, according to research by Conning Research & Consulting.The study, Global Insurance Mergers & Acquisitions in 2009, tracks and analyzes both U.S. and non-U.S. insurance industry merger and acquisition activity across property-casualty, life, health and distribution and services sectors.“In the U.S., the […]
The New Brunswick Insurance Board has allowed the inclusion of a cost of capital provision in Facility Association (FA) rates, the second province in Canada to do so, following the lead of Prince Edward Island.Buoyed by the decision of the New Brunswick Insurance Board, FA is now continuing to pursue the inclusion of a cost […]
Note to claimants: If you are interested in pursuing arbitration after an insurer has denied medical and housekeeping benefits, it’s best to show up to scheduled pre-hearing conferences.In Sivakumar Thangaraja and Dominion of Canada General Insurance Company, the Financial Services Commission of Ontario (FSCO) dismissed an arbitration as “frivolous, vexatious and commenced in bad faith” […]
By Canadian Underwriter | April 7, 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.
