Industry
Merger and acquisition activity in the U.S. insurance market may take off this year, after a relatively quiet 2012, but challenges remain in making such deals, notes a report from Deloitte. Last year there was a 20% decrease from 2011 in the number of M&A deals, notes the report, Top 10 Issues for Insurance M&A […]
By Canadian Underwriter | March 13, 2013
2 min read
Improving the customer experience, especially through leveraging data analytics, is among the key issues facing the property and casualty industry in the coming year, notes a new report from PricewaterhouseCoopers in the U.S.. The popularity of mobile technology and e-commerce have led customers to expect fast, convenient service, suggests the report, Top Insurance Industry Issues in […]
The Association of British Insurers (ABI) today released proposals to foster what it characterizes as a fair, independent and objective approach to help the United Kingdom shake its title as whiplash capital of Europe. “Our proposals will ensure better medical assessment of whiplash claims; offer a quick, simple way of paying genuine claims; provide certainty […]
3 min read
Ontario’s New Democratic Party is calling on the provincial government to provide more details on what the Financial Services Commission of Ontario (FSCO) is doing to address the issue of insurance industry profits and driver premiums. “Ontario drivers are paying the highest auto insurance premiums in Canada,” Jagmeet Singh, consumer services critic for the NDP, […]
By Canadian Underwriter | March 12, 2013
4 min read
Weather forecasters are predicting higher than normal amounts of precipitation in parts of southern Ontario this spring, though the temperature in March will not reach last year’s records highs. In a blog post Tuesday, AccuWeather predicted temperatures this spring will be near or above average across most of eastern, northern and Atlantic Canada. “Expect a […]
Allowing auto insurers to change their rates faster, without going through the current steps mandated under the Financial Services Commission of Ontario, would go a long way in fixing the province’s flawed system, the PC Party’s auto reform critic says. “We’ve been looking at FSCO as a key problem in the system,” said Jeff Yurek, […]
Commercial insurance prices in aggregate increased by almost 7% for 2012 Q4 in the United States, with price increases observed across all account sizes for standard commercial lines, notes a new survey from Towers Watson. The company’s most recent Commercial Lines Insurance Pricing Survey (CLIPS), dated Mar. 2013, compares prices charged on policies underwritten during […]
1 min read
The Insurance Institute for Highway Safety announced Thursday five additional vehicles have earned the Top Safety Pick+ award and Honda Motor Co.’s Civic is the first small vehicle to attain the designation. To be named a Top Safety Pick+, a vehicle would have to be assessed as having good occupant protection in at least four […]
By Canadian Underwriter | March 8, 2013
Many security leaders at Canadian firms say they fear that not knowing about a cyber breach doesn’t mean one hasn’t occurred, leading to concerns around brand reputation, notes a new report from Telus and the Rotman School of Management at the University of Toronto. The Canadian IT Security study took a qualitative approach to its […]
Mobile communications company Vodafone and Towers Watson have launched a telematics program, aimed at speeding up the development of usage based insurance offerings outside of North America. United Kingdom insurance company AIG Europe Limited, part of the international group AIG, has signed up to run a pilot, the companies confirmed. The companies are combining Vodafone […]
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