Industry
Just under half of all 2010 collisions in Saskatchewan occurred at intersections, prompting Saskatchewan police to undertake Operation Crossroads on Jan. 18-19 with the support of Saskatchewan Government Insurance (SGI). “Forty-two per cent of all collisions in the province in 2010 occurred at intersections,” Andrew Cartmell, president and CEO of SGI, said in a press […]
By Canadian Underwriter | January 16, 2012
1 min read
The Insurance Bureau of Canada (IBC) is reminding homeowners to inform their insurers about their renovation plans, adding that many homeowners do not consider adding more liability to their coverage when doing renovations or upgrades.”Consider outdoor cosmetic changes, like adding a pool,” Marlene Landry, IBC’s manager of consumer and industry relations for the Atlantic, is […]
By Canadian Underwriter | January 13, 2012
Winmar Franchise Corporation, a nationwide franchisee network of property restoration specialists, is opening a new location in Victoria, B.C.Winmar Victoria is located at 340 Mary St. Its owner, Andrew Edwards, has been successfully operating Winmar Vancouver for the past five years. Edwards says he is looking forward to operating his second location in Victoria.”Already a […]
The Bermuda Monetary Authority (BMA) is reporting a 50% year-on-year increase in new insurance registrations for Bermuda.Fifty-four new insurers registered with the BMA in 2011, compared to 36 new registrations in 2010.”The 2011 increase included the majority of classes in the Bermuda market, ranging from captives and special purpose insurers (SPIs) to insurers in the […]
A hard market cycle will not likely happen in Canada’s property and casualty insurance industry in 2012, according to Philip Cook, president and CEO of Omega Insurance Holdings.Hard insurance markets are characterized by reduced capacity for insurers, resulting in higher premium pricing and a narrower range of coverage options for consumers,Cook talked about market cycles […]
By Canadian Underwriter | January 12, 2012
2 min read
Social media could be used to harm the Canada’s property and casualty industry as much as help it, according to Philip Cook, president and CEO of Omega Insurance Holdings.Specifically, Cook referred to the power of social media to mobilize public protests against insurers when economic times are tough and the affordability of insurance takes centre […]
Motorists affected by a heavy cold or flu suffer a major loss of concentration when behind the wheel, putting themselves and users at risk, according to research by U.K. insurer Young Marmalade.Young Marmalade carried out the research in association with Halfords. Using a black ‘telematics’ box, they recorded the speed, braking and cornering of several […]
Experts in the U.S. property and casualty industry believe the worst of the financial crisis is over and that the industry is now in the early stages of a hard market, reported the Insurance Information Institute (III).The III surveyed 40 executives from the P&C industry at its 16th Annual Property/Casualty Insurance Joint Industry Forum.Of those […]
The global re/insurance industry is realizing the emerging volatility of “cold spots” – exposures that surprised insurers in 2011 because they were not considered to be risky areas in the past.Reinsurance industry Guy Carpenter flagged the emerging theme of “cold spots” in its report on the January 2012 renewal season, entitled Catastrophes, Cold Spots and […]
By Canadian Underwriter | January 11, 2012
What if social networks such as Facebook, Myspace or Google+ were to become an insurance channel unto themselves in the next two years?Juergen Weiss, a research director at Gartner, a technology research firm, said this kind of development could be a very real possibility — perhaps as early as by the end of 2014. Weiss […]
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