Industry
A new survey measuring consumers’ understanding of insurance products indicates a widespread lack of knowledge, signalling the need for more education to ensure individuals are properly protected. The survey, conducted by SOM research in June for Desjardins Group, involved 3,000 adult Internet users across the country (1,500 in Quebec, 750 in Ontario and 750 in […]
By Canadian Underwriter | August 30, 2012
1 min read
A product that allows insurance carriers to use predictive scores to quote homeowners’ policies online in real time has scored almost 1.5 million policies in the U.S. since its launch in March, Denver-based Valen Technologies reports. PropertyRight is a set of highly predictive models that identify potentially problematic policies and present carriers with an insurance-to-value […]
XL Group plc’s reinsurance operations in Bermuda recently announced the appointment of Tim Fisher as senior vice president and Canadian branch manager. Fisher, who has more than 25 years of experience in the reinsurance industry, will be responsible for leading XL’s Toronto-based reinsurance underwriting team, notes a company statement. Before taking on his new role, […]
By Canadian Underwriter | August 29, 2012
Federally regulated property and casualty insurers in Canada reported improved financial results for the first half of 2012, posting a collective quarterly profit of $1.52 billion as opposed to $1.09 billion for the same period last year. Figures from the Office of the Superintendent of Financial Institutions (OSFI) show that insurers wrote net premiums of […]
By Canadian Underwriter | August 28, 2012
The United States government and the University of Michigan are equipping 3,000 cars, trucks and buses in Ann Arbor, Michigan with wireless devices that will allow the vehicles to alert drivers to speed, location and traffic congestion. Fitted with connected Wi-Fi technology, the vehicles will communicate or “talk” with each other and with road infrastructure […]
2 min read
Nancy Toso has been appointed as the new branch manager for Crawford & Company (Canada) Inc.’s office in Calgary, Alberta. With the company since 2006, Toso has held positions as a casualty specialist, a general adjuster with the global technical services division and branch supervisor of the Calgary office. She also has previous experience in […]
By Canadian Underwriter | August 27, 2012
RiskRadius has introduced what it calls the industry’s first dynamic risk appetite search engine to help insurance brokers and agents find the best match for their clients’ needs. Using proprietary software on a secured platform, brokers can search the dynamic databases of appetites to discover new client solutions based on states where they are located, […]
TD Bank has sold its U.S. insurance subsidiary to USI Insurance Services, a middle-market brokerage firm owned by Goldman Sachs Capital Partners, for an undisclosed amount. TD Insurance Inc. is one of the largest bank-owned insurance agencies and brokerage firms in the United States, offering personal and commercial insurance, as well as employee benefits products […]
The airline insurance market has shrunk in premium volume in 2012 as the industry’s positive loss record continues to exert downward pressure on rates, notes a recent report from Willis. The report, which covers renewals in June and July, states that premium volume in the airline insurance market is down 5% so far this year. […]
By Canadian Underwriter | August 24, 2012
Desjardins General Insurance Group (DGIG)’s net income for 2012 Q2 was $39.5 million, more than double the $16.6 million in 2011 Q2. DGIG’s loss ratio for the quarter ended June 30, 2012 fell to 71% – 5.9% lower than in the second quarter of 2011 – despite severe rains and flooding this spring in Montreal, […]
By Canadian Underwriter | August 23, 2012
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