Industry
YORKTON, Sask. – Police and fire crews are at a southeastern Saskatchewan canola-crushing plant where witnesses say an explosion occurred. A release from the city of Yorkton says all employees at the Louis Dreyfus Commodities plant on Highway 16 are accounted for. Yorkton RCMP say initial reports suggest that there are no injuries or fatalities. […]
By The Canadian Press | October 24, 2014
1 min read
Changes to Canadian home insurance policies after billions in water-related losses in 2013 are “tough” on the brokers who have to explain these changes to consumers, but brokers can “outshine any other distribution system” by advising customers on how they can reduce risk, executives of some carriers told Ontario’s brokers Thursday. “We know last year […]
By Canadian Underwriter | October 24, 2014
5 min read
OTTAWA – Quebec is not being as aggressive as Ontario with regard to telematics since the take-up for auto usage-based insurance (UBI) products has been lackluster to date, Guy Parent, general manager of Le Regroupement des cabinets de courtage d’assurances du Québec (RCCAQ), suggested Wednesday in Ottawa. “Just do the math,” Parent said during the […]
2 min read
OTTAWA – Smart home technology offers significant promise in getting the number of losses down, but replacement costs must also be considered to capture a complete picture of its potential effect, Bob Tisdale, president and chief operating officer of Pembridge Insurance Company, suggested in Ottawa Thursday. The news is good from a frequency of loss […]
3 min read
ATLANTA – New federal Ebola response squads – likened to public health SWAT teams – are being readied to rush to any U.S. city where a new Ebola case might be identified, officials say. Meanwhile, the government has formed a second set of teams to prepare hospitals in cities deemed most likely to see a […]
By Canadian Underwriter | October 23, 2014
Willis North America has appointed Roger Hacala as senior vice president and Financial Institutions Practice Leader for Willis Canada. In his new role, Hacala will oversee the Financial Institutions Practice within Willis’s Canada region, which has offices in Toronto, Vancouver, Calgary, and Montreal. In addition to being responsible for business development, client engagement and talent development, […]
More insurance companies in the Europe, Middle East and Africa region view themselves as sellers of business units, as opposed to buyers, over the next three years, Towers Watson reported this week. In a survey of senior insurance executives, conducted by Towers Watson and intelligence provider Mergermarket, 60% of respondents said they expect to divest […]
OTTAWA – Ontario brokers should understand that the competitors they have today could be different than those they have five years from now – one reason the traditional business model will need to change, Chris Floyd, president of the Insurance Brokers Association of Ontario (IBAO), said in a speech Wednesday. “Our competitors are ramping up […]
There is a decided shift in the behaviour of Millennials compared to the youngest generation, a shift that those in business, including insurance brokers, will need to address, John Spence, an executive consultant, trainer and author of four books suggested Wednesday. “The Millennials were all about me, me, me – conspicuous consumption,” Spence told attendees […]
By Canadian Underwriter | October 22, 2014
ACE Ltd. reported Tuesday its financial results for the three months ending Sept. 30, reporting a combined ratio of 86.3% after “relatively light” catastrophe losses and a 2.7% year-over-year increase in net premiums written from North American property and casualty insurance. The Zurich-based holding company of insurance carriers reported net premiums written, in property and […]
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