Industry
The length of time for businesses supply chains to recover from the 2011 Tohoku and Christchurch earthquakes varied considerably, with most taking between one month and six months to recover, and one business still struggling to recover one year later, according to a survey by the Business Continuity Institute. BCI interviewed respondents who reported their […]
By Canadian Underwriter | March 13, 2012
1 min read
Canadians pay an average of $840 annually for their home insurance, with prices strongly varying across provinces, according to research by InsurEye Inc. The highest level of home insurance premiums is in British Columbia at $924 annually, followed by Alberta with $912 annually. Annual home premiums in Ontario go as high as $828, and in […]
2 min read
Munich Re is aiming for a profit of around EUR2.5 billion (Cdn$3.2 billion) in 2012, concluding the 2011 financial year with a profit of €712 million (Cdn$923.9 million) despite numerous severe catastrophes. At the same time, the financial crisis worsened, with interest-rate levels generally remaining low, the company noted. “In this exceptional situation, our integrated […]
Wildlife collisions are in the sights of Canadian insurers, particularly between March and June, when wildlife collisions are most frequent. “The most costly result of these collisions is injury or even death of both the wildlife and the driver,” Aviva Canada notes on its website. “They’re more common than you’d think — a report from […]
A powerful windstorm lashed B.C.’s south coast on Mar. 13, knocking down trees, cancelling ferries and leavings thousands without electricity, The Weather Network reports. “Winds gusted over 100 km-h throughout the day on Monday and even reached hurricane strength in some places,” says Gerald Cheng, a meteorologist at The Weather Network. At the height of […]
Data accuracy and reliability is the most important benefit of risk technology, according to Aon’s 2012 Global Risk Technology Survey (GRTS). “Scrutiny of business operations and financial reporting continues unabated in this recession-era economy,” the report says. “Confidence in data is clearly a key issue for the organizations we surveyed… “This Number 1 ranking indicates […]
By Canadian Underwriter | March 12, 2012
A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) of Royal & Sun Alliance Insurance Company of Canada (RSA Canada), Western Assurance Company and Quebec Assurance Company. These members are together known as RSA Canadian Property/Casualty Pool (RSA Canadian Pool). “The rating actions on RSA Canadian Pool reflect A.M. Best’s viewpoint […]
Marsh Canada, in collaboration with Guy Carpenter and Northbridge General Insurance Corporation, is launching a Whole Farm Cost of Production Insurance solution for crop and livestock producers called AGRI-PLUS. AGRI-PLUS protects producers from insured events that may cause their annual revenues to fall below their individual historic cost of production levels. The insurance policy is […]
Communicating with the media during catastrophe coverage is one among several feature events headlining 2012 Insurance Marketing and Communications Association Annual Conference in Denver on June 24-27. The conference draws marketing and communications insurance professionals from across North America. The event will feature Jerry Davies, assistant vice president of media and public relations for Farmers […]
Roughly half of British Columbia homeowners add earthquake insurance to their home insurance policies despite the fact that earthquake insurance is widely available in B.C., reported Square One, a property insurer. Square One says that although many homeowners know they should get earthquake insurance, they don’t. Commonly, they cite the following reasons: “These are common […]
By Canadian Underwriter | March 9, 2012
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