Industry
Aviva Canada is launching a corporate social media strategy that includes a presence on Facebook, Twitter, LinkedIn and a blog. The insurer’s Aviva Community Fund garnered 36,000 Facebook ‘likes’ and 3,600 Twitter followers since 2009, when the campaign was launched. Aviva Canada will now also use social media to share information, including tips for property […]
By Canadian Underwriter | January 19, 2012
1 min read
CARSTAR Automotive Canada Inc. is launching a best practices program for its franchisees. The aim of the program Innovation Through Cultivation is to “foster innovation from the ground up and build upon best practices that are currently in operation at CARSTAR stores,” a CARSTAR release says.Best practices will be captured from select franchisees and tested. […]
Ontario auto insurers received approval for an average rate change of 1.84% in 2011 Q4 when weighted by the market share, reported the Financial Services Commission of Ontario (FSCO). Roughly 45% of the market had rate changes approved. Rate filings approved during 2011 Q4 averaged 0.84%, based on the entire market. The five largest insurers […]
By Canadian Underwriter | January 18, 2012
Manitoba Public Insurance (MPI) reported its net income (after surplus distribution) dropped by $52.5 million for the first three quarters of 2011.MPI reported a profit of $89.4 million during the first three quarters of 2010, which dropped to $36.9 million over the same period in 2011.Basic auto insurance netted a profit of $11.3 million for […]
Insurance companies need to break out of a classic, “chicken-and-egg” scenario to generate growth in a tough economy, a Deloitte LLP report says.The title of the report states its central thesis: 2012 Global Insurance Outlook: Generating growth in a challenging economy takes operational excellence and innovation. But the challenge for insurers is not waiting for […]
2 min read
The grounding of a luxury cruise liner off the coast of Italy could result in insured losses of up to EUR400 million (about Cdn$517 million), according to Guy Carpenter. The Costa Concordia ran aground off the coast of Isola del Giglio, in Italy on Jan. 13, 2012. At the time of the incident, the vessel […]
By Canadian Underwriter | January 17, 2012
Although risk management is perceived to have increased in importance over the past three years, only 10% of those surveyed by Zurich said their executive management is “highly effective” in creating a strong risk management culture. Zurich collaborated with Harvard Business Review to survey more than 1,400 business executives. Participants were asked whether or not […]
The Centre for Study in Insurance Operations (CSIO) is seeking nominations for its fifth annual CSIO Annual Award, which recognizes the most innovative use of CSIO standards for the benefit of the broker distribution channel.Nominations for the 2011 award are to be submitted by email to nominations@csio.com before Mar. 30, 2012.Any CSIO member can nominate […]
By Canadian Underwriter | January 16, 2012
Eastern Ontario and Quebec and the West Coast aren’t the only parts of Canada that have an earthquake risk. Research shows that while the probability is quite low, Saskatchewan and Manitoba also have some risk of experiencing a large quake, said Dr. John Adams of the Geological Survey of Canada.Adams spoke at the Canadian Seismic […]
Advances in ‘seismic microzonation’ allow underwriters to assess earthquake risk on a property-by-property basis based on a soil analysis of the site, delegates heard at the Canadian Seismic Research Network’s Workshop on Seismic Hazard and Microzonation. Professor Luc Chouinard of McGill University described efforts to analyze soil in and around the city of Montreal. Chouinard’s […]
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