Claims
The New Brunswick government could expect an approximately $8 million tab for relocating or flood-proofing more than 70 homes in the Village of Perth-Andover, the site of flooding in March that prompted a state of emergency. The cost estimate is contained in a 16-page report, Perth-Andover and Tobique First Nation Mitigation Study: Final Report, submitted […]
By Canadian Underwriter | September 5, 2012
2 min read
Damage costs from severe weather across Canada are expected to reach between $110 million and $130 million after taxes, net of reinsurance, Intact Financial Corp. reports. The company is serving about 20,000 of its customers following severe storms in July and August. About 10 storms caused damage from wind, hail and/or rainfall across Alberta, Ontario […]
1 min read
Industry
Total global reinsurer capital totalled a record $480 billion (all figures U.S.) at the mid-year point of 2012, notes a new report by Aon Benfield, the intermediary and capital advisor of Aon. That number represents a 5% increase from year-end 2011, states the latest Aon Benfield Aggregate (ABA) report. In its study of 31 publicly […]
SCM Insurance Services has launched a new company to answer what it sees as increased industry demand for better business intelligence tools and enhanced access to risk information. Opta Information Intelligence will provide underwriters, brokers, corporate risk managers and municipalities with access to risk information, as well as proprietary technology for analysis. The new company […]
Two leading firms in the insurance telematics space have formed a strategic alliance to provide personal lines auto insurers with data and solutions for usage-based insurance (UBI) programs. Towers Watson and Hughes Telematics, Inc. (HTI) will use the partnership to allow companies to bring UBI programs to market sooner, notes a press release. Towers Watson […]
Fitch Ratings reports its outlook for the global reinsurance sector remains stable, with further strengthening of already-strong capitalization and continued premium growth into 2013. Underwriting and operating trends are expected to support reinsurers’ current ratings over the next one to two years, notes Fitch Ratings’ Report: 2013 Outlook: Global Reinsurance, released on Sept. 3. “While […]
By Canadian Underwriter | September 4, 2012
insPRESS
Since 1979, Dundas Valley Collision Centre ~ CSN has served the Dundas-Hamilton region with outstanding customer service and vehicle workmanship. The company was founded by Alex Szabo, a man who possesses a passion for the automotive industry, one which is reflected in the way that his business is run today. Dundas Valley Collision Centre ~ […]
By Canadian Underwriter magazine | September 4, 2012
3 min read
RSA has announced two new appointments to its senior leadership team in Canada to support the company’s growth strategy in Quebec and Atlantic Canada. The company has named Glen Bates as vice president in Quebec, as part of its plans to acquire Quebec company l’Union Canadienne. Bates, formerly vice president in eastern Canada, will relocate […]
Toronto — SCM Insurance Services (SCM), the company behind some of the insurance and risk industry’s most powerful information and valuation solutions, has announced today the launch of Opta Information Intelligence (Opta), a company that will be dedicated to helping Canada’s insurance and corporate risk industries turn information into profitable business intelligence. Opta possesses the […]
A survey of B.C. drivers conducted for the Insurance Corporation of British Columbia (ICBC) shows that 44% of respondents believe driving is a complex task, yet 40% of those who own cellphones admit they have used hand-held devices while behind the wheel. ICBC cited the survey, done by Ipsos Reid, as part of a public […]
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