Industry
Property and casualty insurers in Canada are encouraged to use data and analytics, as well as invest in people and technology, to develop a new approach better able to meet the current persistent cost pressures and market challenges, notes a report released today by Ernst & Young (EY). Improved use of data and analytics can […]
By Canadian Underwriter | February 25, 2015
4 min read
WATERVILLE, N.S. – An explosion that destroyed a house in Nova Scotia’s Annapolis Valley was caused by a combination oil and wood-burning furnace that overheated and ruptured, the provincial fire marshal says. The explosion was originally thought to be gas related, but Harold Pothier ruled that out after completing his assessment of the explosion that […]
By The Canadian Press | February 24, 2015
1 min read
The move to digitalize will be important for those in Canada’s property and casualty insurance industry looking to position themselves well for the future, Sylvie Paquette, senior vice president and general manager of p&c insurance at Desjardins Group, noted during a recent interview with Canadian Underwriter. “Your expectation as customers is not driven by your […]
By Canadian Underwriter | February 24, 2015
3 min read
An Ontario government bill proposing to raise distracted driving fines to a range of $300 to $1,000 – and to change the rules for rebranding damaged vehicles as either salvageable or irreparable – has been referred to committee. Bill 31, the Transportation Statute Law Amendment Act (Making Ontario’s Roads Safer), was referred Tuesday to the […]
Claims services firm Crawford & Company reported Monday a slight drop in revenues in 2014, though revenues for the Americas rose 5% from 2013. Atlanta-based Crawford released its financial results for 2014, reporting full year consolidated revenues before reimbursements of $1.143 billion for 2014, down 1.7% from $1.163 billion in 2013. Net income attributable to […]
By Canadian Underwriter | February 23, 2015
Western Financial Group announced Monday that Jeff Burke has stepped down as president and chief executive officer, effective immediately. Burke was appointed president in September, 2013. He was previously president and CEO of Western Financial Group’s network of insurance brokerages in British Columbia, Alberta, Saskatchewan and Manitoba. High River, Alta.-based Western is owned by Desjardins […]
2 min read
Size is key in Canada’s property and casualty insurance space and will likely become even more important as customer service expectations increase, Sylvie Paquette, senior vice president and general manager of p&c insurance at Desjardins Group, suggested at a recent company event in downtown Toronto. Acquisition is the most likely way to achieve the size […]
5 min read
The Senate recently tabled Bill C-22, the Energy Safety and Security Act, for third reading, with one Liberal senator vowing to vote against it because it would result in rate increases for nuclear liability insurance. “Right now, the annual insurance costs for Énergie NB Power are around $65,000,” Liberal Senator Pierrette Ringuette said Feb. 19. […]
Allstate Corporation’s Esurance unit is expanding into Canada, announcing on Monday that it is offering auto insurance online directly to consumers in Alberta. “Our research indicates there is an underserved segment of the Canadian market that prefers a self-directed experience,” said Jonathan Adkisson, president and COO of Esurance Canada in a press release. Esurance president […]
DHAKA, Bangladesh – The death toll from a weekend ferry disaster in central Bangladesh rose to 70 on Monday, as divers finished their search after the vessel was lifted to the surface and towed to shore. A local government administrator, Rasheda Ferdousi, said the area of the river around the accident site was still being […]
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