Industry
Data is increasingly being regarded as an asset since discussions around cyber security and privacy have moved beyond the realm of e-commerce to touching all types of organizations and industries today, Greg Eskins of Marsh Canada suggested during a presentation in downtown Toronto Tuesday. “The loss or damage of data information is an issue, I […]
By Canadian Underwriter | March 20, 2013
3 min read
The Insurance Bureau of Canada will soon be launching a public education display at a mall in the Greater Toronto Area focused on auto insurance issues, a hot topic in the region and Ontario generally. The “Time to Talk Tour” is seeking consumer opinions about the problems they think face Ontario’s auto insurance system, and […]
2 min read
Spring is fast approaching and with it comes a caution from State Farm that the increased presence of wildlife along roadways could up hazardous conditions for motorists and wildlife alike. Motorists across the country are reminded to be on the lookout, notes a statement from State Farm. “The breeding season, bird migration, animals coming out […]
As the world is attempting to recover from the 2008 financial crisis and volatility in several regions, the latest Aon Political Risk Map shows more countries’ risk ratings have declined than in previous years, the company noted Tuesday. On the 2013 interactive map, 13 countries have shown decreased risk from last year, while in 2012, […]
By Canadian Underwriter | March 19, 2013
Claims technology provider Symbility Solutions announced Tuesday that its Symbility Mobile Claims app is now available for Android devices. The app aims to improve efficiency, customer service and speed during the estimation process. The app is now compatible with more devices, adding to the user experience, the company said. It also allows customers more flexibility […]
1 min read
Commercial property insurer FM Global reported Tuesday a 2012 year-end result of $5.5 billion in consolidated gross premium, an 8.6% increase from the previous year. Net income for the year was $774 million, and the company reported a combined ratio of 85.7%. It also reported a policyholder surplus of $7.9 billion for the year. All […]
Total insurance IT spending worldwide will hit about $140.2 billion this year and will continue to grow into 2015, says research firm Celent. In 2015, insurance industry IT spending will be around $154.5 billion, “a cautious but encouraging indicator of future growth,” Celent says in the abstract to the report, IT Spending in Insurance: A […]
By Canadian Underwriter | March 18, 2013
Operating profits for the property and casualty industry generally improved last year, although several individual companies’ performances were “below par,” says Fitch Ratings. The company’s analysis of full year earnings from 48 publicly traded insurers and reinsurers suggests a 75% improvement in operating earnings and operating return on equity of 7.3% versus 4.4% in 2011. […]
By Canadian Underwriter | March 15, 2013
Most trailers on modern semitrailers fail to prevent incidents where a passenger vehicle slides underneath the rig in collisions involving only a small portion of the truck’s rear, indicate new crash test results from the Insurance Institute for Highway Safety (IIHS). The tests show that “modern semitrailers, for the most part, do a good job […]
4 min read
Economical Insurance has announced that on March 25 it will begin a pilot implementation of the Centre for Study of Insurance Operations (CSIO) eDoc XML standard with select brokers. Brokers that use Economical’s broker management systems (BMS) The Agency Manager, sigXP, PowerBroker or The Broker Workstation will be part of the pilot. Upon completion of […]
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