Industry
WINNIPEG – Manitoba is set to close an insurance loophole that forced its public insurer to pay out for accidents involving golf cart and race cars. The governing NDP is introducing legislation Thursday that, among other things, will spell out Manitoba Public Insurance will not be held liable for accidents involving golf carts, race cars […]
By The Canadian Press | April 11, 2014
1 min read
The insurance industry needs to come up with a better cyber coverage product, and some investment fund managers understand the insurance business much better than they used to, the head of a major commercial brokerage told an audience of insurance professionals Thursday at the CIP Society symposium. Peter Zaffino, president and chief executive officer of […]
By Canadian Underwriter | April 10, 2014
2 min read
A group representing brokers in Quebec has issued a statement saying it is behind usage-based auto insurance programs, as long as they are voluntary. The note from the Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ) comes as insurers are launching or expanding UBI programs, including Desjardins’ Ajusto program and Industrial Alliance’s Mobiliz. “A […]
Insurance technology firm Quindell has partnered with United Kingdom auto services and insurance firm RAC to create a new business, Connected Car Solutions Limited, to distribute their telematics technology. The new joint venture, which includes a £30 million investment split fairly equally between the firms, will market and distribute their combined telematics capabilities across the […]
ACE Group has created a new Global Property Engineering Unit, providing engineering risk management services to clients worldwide. Raimund Navakas has been appointed senior vice president of Global Property Engineering to lead the new unit, the firm announced Tuesday. Formerly vice president and regional manager of Risk Management Engineering Services for the company’s Asia Pacific […]
By Canadian Underwriter | April 9, 2014
Energy firms that integrate their industrial control systems with Internet-based computer systems increase their risk of cyber attack, and the “traditional” cyber insurance market does not normally cover significant physical loss or damage, suggests a recent report from Willis Group Holdings plc. The London-based brokerage and risk management firm announced Tuesday it has published its […]
3 min read
FREDERICTON – New Brunswick’s consumer advocate for insurance says drivers continue to benefit from competition among companies as the average amount they paid to insure their cars last year fell by about $16. Ronald Godin says the average insurance rate of $704 in 2013, down from about $720 the year before, is the lowest in […]
By The Canadian Press | April 9, 2014
SAN FRANCISCO – An alarming lapse in Internet security has exposed millions of passwords, credit card numbers and other sensitive bits of information to potential theft by computer hackers who may have been secretly exploiting the problem before its discovery. The breakdown revealed this week affects the encryption technology that is supposed to protect online […]
4 min read
DETROIT – Only two of nine midsize SUVs got the highest rating in crash tests done by an insurance industry group. The Chevrolet Equinox and GMC Terrain, both made by General Motors, received the highest “good” rating from the Insurance Institute for Highway Safety. The Toyota Highlander got the second-best “acceptable” rating in tests of […]
By Canadian Underwriter | April 8, 2014
An insurance product available from the Lloyd’s market has been deemed acceptable for use by Manitoba egg producers, after a ruling that says they can use private insurance. A ruling by Manitoba Farm Products Marketing Council in January means that egg producers are not limited to purchasing their Salmonella insurance from the Manitoba Eggs Farmers […]
By Canadian Underwriter | April 7, 2014
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