Industry
Zurich Financial Services Limited reported a 2009 Q1 profit of US$362 million, a decrease of 75% over the same period last year.The company’s general insurance segment reported gross written premiums and policy fees of US$9.8 billion, down 12% or 3% in local currencies, and a combined ratio of 95.8%”General Insurance continued to show resilience across […]
By Canadian Underwriter | May 7, 2009
1 min read
Monitoring teenaged drivers helps to increase the use of seatbelts, but decreasing more complicated behaviour like speeding and sudden braking poses more difficulty, researchers at the Insurance Institute for Highway Safety (IIHS) found.In the study, In-Vehicle Monitoring and the Driving Behaviour of Teenagers, the vehicles of 85 recently-licensed teenage drivers were outfitted with a monitoring […]
2 min read
The Economical Insurance Group (TEIG) has entered into an agreement with Policy Works Inc. to deliver a commercial lines data exchange solution between the Policy Works Commercial Management System (CMS) and TEIG’s brokerEXPRESS Web-quoting facility.Expected to be completed in Summer 2009, the integration of TEIG’s brokerEXPRESS quoting site with Policy Works is intended to provide […]
The Health Claims for Auto Insurance (HCAI) is on track for a voluntary rollout at the end of summer, provided the testing phase meets required outcomes. Currently, the system is in an extended test cycle which will continue until July. A quality assurance team, whose job is to review the functionality of the remediated system […]
By Canadian Underwriter | May 6, 2009
Canadian roads are expected to remain significantly underfunded over the next five years, according to a KPMG report. Canadian road expenditure is predicted to grow by an average of 1% per year between 2009 and 2013, taking the total expenditure in 2013 to US$14.9 billion, KPMG says in its report, Trend Monitor: North American Road, […]
CARSTAR Automotive Canada is aiming to set a Guiness World Record for largest car wash during its sixth annual fundraiser ‘Soaps It Up National Car Wash Day.’ More than 125 ‘Soaps it Up’ events will be held at CARSTAR locations across both Canada and the United States on Saturday, June 20. The company hopes to […]
As of June 1, 2009 all New Brunswick motorists under the age of 21 and/or with a class 2 licence, must maintain a zero per cent blood-alcohol level when driving. The new rule will applie to all drivers under the age of 21, whether they are enrolled in the graduated driver’s licence program or not, […]
Canadian Independent Adjusters’ Association — Ontario Region is hosting an education seminar on May 13, 2009. The half-day seminar will focus on two relevant issues facing adjusters today: ladder safety and transportation road safety. There are requirements under the Ontario Health & Safety Act surrounding ladder safety that adjusters need to be aware of. Additionally, […]
By Canadian Underwriter | May 5, 2009
If B.C. and Alberta credit unions are allowed to own or operate Alberta insurance brokerages as a result of harmonizing legislation between Alberta and B.C., that could have a huge impact on the national Bank Act issue. And yet, the Alberta insurance brokers’ lobby to prevent this from happening rates only a ‘C,’ says an […]
A lack of transparency and clarity in the regulations around the use of credit scoring are major obstacles to its widespread use in underwriting personal lines insurance policies, insurance company executives on a CEO panel told the annual general meeting of the Insurance Brokers Association of Alberta (IBAA), in Jasper, Alberta.Insurers’ use of credit scoring […]
3 min read
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