Industry
Willis Group Holdings’ New York City-based North American unit announced Thursday it has agreed to acquire the assets of Montreal-based Avalon Actuarial Inc. The terms of the deal were not disclosed but Willis stated in a press release it expects the transaction to close in the fourth quarter. London-based Willis Group has 200 employees in […]
By Canadian Underwriter | November 30, 2012
2 min read
A.M. Best has affirmed the ratings of Manitoba’s Grain Insurance Company, boosting their outlook from negative to stable. The company now holds a financial strength rating (FSR) of “A,” or excellent and an issuer credit rating (ICR) of “a.” “The rating affirmations are supported by Grain’s consistently solid operating performance, favorable reserve development, on both […]
1 min read
A New Brunswick online distracted driving awareness campaign has won an award at an event honouring the best in Atlantic Canadian creative advertising. The campaign, It only takes a second…don’t drive distracted, won silver in the Public Service, Online Initiative category at the 2012 ICE Awards. “We know how important it is to get high-impact […]
Applied Systems Inc. announced Thursday the general release of its MobileProducer software, which works on Apple’s iPad and on wireless devices running Google’s Android operating system. In a press release, the University Park, Ill. vendor said MobileProducer lets users access client accounts, activities, contacts, prospective customers and insurance policy information. They can also access e-mail […]
By Canadian Underwriter | November 29, 2012
Insurer Aviva Canada has announced the semi-finalists in its 2012 Aviva Community Fund initiative. The competition offers $1,000,000 in donations for community initiatives across the country. Canadians have been sbumitting and voting on their favourite ideas for 10 weeks. Background: Aviva Community Fund competition opens for fourth year More than 1,500 ideas were submitted and and nearly two […]
4 min read
The Organization of Real-time Brokers Implementing Technology (ORBiT) held its annual general meeting in Toronto Tuesday, announcing the progress of working groups as members discussed hot-button issues including electronic versions of pink auto insurance slips, electronic payments to brokers and the use of technology to compete with direct writers and agents. ORBit, which includes 13 insurance […]
Some of the worst-affected areas in the wake of heavy rainfall and widespread flooding in the United Kingdom could see insurance premiums rise by as much as 50%, PwC reported on Wednesday. “Following the latest floods to strike the U.K., we expect insurance renewal premiums to rise between 10% and 50% depending on the severity […]
The Canadian Council of Insurance Regulators (CCIR) group tasked with reviewing the use of credit scoring by insurers has been unable to come up with recommendations on the matter, in perhaps a disappointing end to a long look at the issue. In its November 2012 findings report, the Credit Scoring Working Group noted it had […]
By Canadian Underwriter | November 28, 2012
The majority of identity fraud cases are the result of burglary or stolen personal items, a new study from The Travelers Companies Inc. suggests. The Hartford, Conn.-based property and casualty insurance provider stated that in 73% of all cases, identity fraud is caused by burglary or stolen personal items. “Stolen or misplaced items, such as wallets […]
Manitobans between the ages of 16 and 24 accounted for 25% of drivers in fatal crashes and 22% of drivers in injury collisions in the province during 2010, notes data from Manitoba Public Insurance (MPI). This age range accounts for the largest proportion of traffic collision casualties, more than any other age group, MPI reports […]
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