Industry
CORRECTION: The June 20 online edition of Canadian Underwriter incorrectly stated that CAFII supports “the idea that consumers should be able to access insurance intermediaries at all times during the online purchase process.” In fact, CAFII proposed the position to the CCIR that they not make it mandatory for insurers to provide access to insurance agents […]
By Canadian Underwriter | June 20, 2012
3 min read
Aviva Canada is reintroducing its Aviva Community Fund competition in the fall of 2012. The program, which offers $1 million to encourage Canadians to lead, empower and support community initiatives across the country, is Aviva’s flagship charitable donation project. Launched in the fall of 2009, the Aviva Community Fund competition has provided more than $2.5 […]
1 min read
Property and casualty insurance companies must address a range of “disruptive” technologies to succeed in a changing competitive marketplace, according to a recent report from Deloitte Consulting L.L.P. The notion of “maintaining a high level of operational efficiency (is) merely table stakes,” the consulting firm noted in its report, Insurance Tech Trends 2012: Elevate IT […]
By Canadian Underwriter | June 19, 2012
ACE Canada, the Canadian-based operating division of ACE Group, has introduced an easy-to-use option for Canadian brokers to coordinate placement of local-admitted insurance policies. “This efficient and seamless application benefits ACE’s brokers and clients by reducing the operational hurdles often encountered when securing a local broker by leveraging the ACE Global Network,” ACE Canada notes […]
CARSTAR Collision & Glass Centres across North America raised $101,340.01 for Cystic Fibrosis Canada and local fundraising groups in the ninth annual Soaps It Up National Car Wash Fundraiser on June 9. CARSTAR thus reached its $2-million milestone in funds raised for Cystic Fibrosis Canada. There were more than 70 events throughout Canada and more […]
Insurance Brokers Association of Canada (IBAC) and its member associations have announced that the Elite Force-Best Practices Producer Academy will be offered in Toronto starting this September. Now in its fourth year, the sales training program for producers is an intensive, 12-day program held three days per quarter, notes an IBAC statement. Available in English, […]
By Canadian Underwriter | June 18, 2012
RiverStone, a runoff subsidiary of Fairfax Financial Holdings Limited, has reached an agreement with Brit Group to purchase all outstanding shares of Brit Insurance Limited (BIL). RiverStone will purchase BIL at a discount to its book value — which was approximately $530 million at March 31, 2012 — adjusted for certain pre-closing dividends. The purchase […]
Manitoba Public Insurance (MPI) requested no overall insurance rate increase for 2013-14 in its general rate application filed with the Public Utilities Board (PUB) on June 14. “Today’s rate application confirms the strength of the public auto insurance system,” MPI president and CEO Marilyn McLaren said. “Our record is unmatched anywhere in Canada and demonstrates […]
2 min read
Commercial insurance pricing in the United States increased by an average of 5% in 2012 Q1 over the same period last year, noted Tower Watson consulting. This represented the fifth consecutive quarter that prices rose for all standard commercial lines, according to the professional services company’s Commercial Lines Insurance Pricing Survey (CLIPS). In addition, Towers […]
By Canadian Underwriter | June 15, 2012
Rising insurance premiums and a focus on specialty risk advisory services will spur growth for the world’s largest insurance brokerages, according to a recent analysis by Moody’s Investors Services. The outlook for the global insurance brokerage sector “is stable, reflecting the brokers’ steady performance through shifting economic and market conditions,” Moody’s noted in its Insurance […]
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