Industry
The global market for stand-alone travel insurance and assistance continues to grow, expected to reach US$18.1 billion by 2017, but new and emerging markets are driving the expansion, note new figures from Finaccord. The global market for stand-alone travel insurance and assistance (excluding policies linked to credit cards and bank accounts) was worth approximately US$13.8 […]
By Canadian Underwriter | March 3, 2014
2 min read
Economical Insurance has announced plans for a new national processing centre in Kitchener, Ont. as part of its new operating model, under which it hopes to make underwriting operations more effiicent and consistent. The new centre, at the insurer’s Riverbend facility, will be launched this year, and will be where Economical will process a large […]
1 min read
There have been great advances in the capability of home systems, everything from smart appliances to back-up generators and medical equipment. But no system is perfect. What is the best option to protect against any related breakdowns?
By Derrick Hughes, Vice President, Reinsurance Assumed, The Boiler Inspection and Insurance Company of Canada, part of Munich Re | February 28, 2014
4 min read
Share prices for publicly-traded insurance companies who acquire other firms outperform the industry average, according to a new analysis from Towers Watson and Cass Business School. The analysis looked at major acquisitions completed by stock market-listed insurance companies worldwide between January 2008 and December 2013. Among those, acquirers share prices typically outperformed the industry average […]
By Canadian Underwriter | February 28, 2014
Despite a lower number of merger and acquisition deals in the insurance industry last year, and several economic and regulatory challenges, industry observers are “cautiously optimistic about 2014,” notes a new report from Deloitte. In its 2014 Insurance M&A Outlook report, the firms suggests that this year could see momentum building around mergers and acquisitions. […]
Aviva Canada officially announced Wednesday its plan to relocate its head office to The Remington Group’s ‘Downtown Markham’ development in Markham, Ontario. The Remington Group held an Aviva Canada head office groundbreaking event at the Downtown Markham location Wednesday, which included an address from Christopher Bratty, president of Land Development and Investments with The Remington […]
By Canadian Underwriter | February 26, 2014
The expense ratio of Canada’s non-life insurance industry increased from 2011 to 2012, due in part to the cost of upgrading and replacing legacy computer systems, while worldwide, customers “do not report a high rate of positive experience” when interacting with insurance carriers through “digital channels” rather than through agents, suggests a report released Wednesday. […]
3 min read
DETROIT – General Motors on Tuesday doubled to 1.6 million the number of small cars it is recalling to fix faulty ignition switches linked to multiple fatal crashes. Just two weeks ago, GM announced the recall of more than 780,000 Chevrolet Cobalts and Pontiac G5s. It’s now adding 842,000 Saturn Ion compacts, Chevrolet HHR SUVs […]
WASHINGTON – As the Obama administration raced to meet its self-imposed deadline for online health insurance markets, security experts working for the government worried that state computer systems could become a back door for hackers. Documents provided to The Associated Press show that more than two-thirds of state systems that were supposed to tap into […]
By Canadian Underwriter | February 25, 2014
The resources dedicated by Canadian insurance carriers to auto rate filings, the tendency of condominium units to have dishwashers and washing machines, climate change and the current state of municipal infrastructure are all major issues for property insurers covering water damage, a new report suggests. The Canadian Institute of Actuaries (CIA) announced Tuesday the release […]
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