Industry
WASHINGTON – The economic and societal harm from motor vehicle crashes amounted to a whopping $871 billion in a single year, according to a study released Thursday by the National Highway Traffic Safety Administration. The study examined the economic toll of car and truck crashes in 2010, when 32,999 people were killed, 3.9 million injured […]
By Canadian Underwriter | May 29, 2014
2 min read
Young drivers might be most open to usage based insurance because of their often high premiums, but connecting with parents can be the key when marketing telematics programs. “The parents do need the premium relief too – they’re usually paying the bills,” Paul Mlodzik, vice president of marketing and communications for The Co-operators said during […]
A majority of Canadians are optimistic about usage-based auto insurance if it could lower their rates, but awareness of telematics programs remains quite low, according to a new survey from Kanetix. “Consistent with all the other surveys so far, 18% of Canadians are familiar with UBI and specifically only 2% of that portion is very […]
By Canadian Underwriter | May 28, 2014
3 min read
Half of the respondents to a poll marking the one-year anniversary of Desjardins General Insurance Group’s (DGIG) launch of its usage-based insurance (UBI) programs said they are safer drivers and almost seven in 10 said they now pay more attention to acceleration and braking. Results of the survey – based on input from 257 Ajusto […]
Using electronic and voice signatures instead of having customers put pen to paper have allowed some brokers to avoid errors and omissions exposures and cut out steps in their workflow, though some insurance transactions still require signed paper, speakers suggested Wednesday during Real Time Days. Beth Sigurdson, a partner with Efficient Broker, said her firm […]
4 min read
The Insurance Council of New Zealand (ICNZ) called on businesses – particularly small and medium-sized enterprises – to be better prepared for escalating cyber threats by reviewing the security of their networks and Internet operations and considering any gaps in insurance cover. “Cyber-related crimes are believed to have cost New Zealand businesses over $625 million […]
By Canadian Underwriter | May 27, 2014
Aviva Canada announced Tuesday that Sharon Ludlow will join the insurer as president of Aviva Insurance Company of Canada, effective June 17, moving on from her role as president and CEO of Swiss Re Canada. In the newly-created role, Ludlow will be responsible for Aviva Canada’s broker distribution operations, as well as the company’s customer, marketing […]
QUEBEC – Twelve people suffered various injuries Monday afternoon when a cruise ship slammed into a pier during berthing at Quebec City. Quebec ambulance officials say a few of the injured from the ”Louis Joliett” were transported to hospital but none of the injuries are life-threatening. It’s not yet known if there was a mechanical […]
By The Canadian Press | May 27, 2014
1 min read
Munich Re’s risk know-how and RIB’s iTWO Technology are being combined to form what is being called the first global IT-based insurance product for large construction projects that covers elements of unplanned increase in construction cost. Munich Re and RIB have signed an exclusive agreement to jointly develop the product, which is targeted at project […]
By Canadian Underwriter | May 26, 2014
Fire Underwriters Survey, operated by Opta Information Intelligence, will be releasing a new online system for its Canadian Fire Insurance Grading Index. Version 2.0 will be available May 25 through the iClarify property valuation tool from Opta, at no additional cost to all subscribing insurance companies and the brokers they sponsor. The system is also […]
By Canadian Underwriter | May 23, 2014
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