Industry
Canadians aged 55 or over are not only more confident winter drivers (27% versus 17% of Canadians aged 18-34), they are also more knowledgeable on how to stay safe on the roads, according to the TD Insurance Winter Driving Poll.”With age comes wisdom, so it’s no surprise older Canadians fare better on winter roads,” TD […]
By Canadian Underwriter | November 29, 2011
1 min read
Drivers in nine Greater Toronto communities have the highest car collision frequency rate in Ontario, according to an Allstate Insurance Company of Canada study.The third annual Ontario Safe Driving Study examines Allstate Canada claims data and ranks drivers in Ontario communities by the frequency of collisions per 100 cars.It found that drivers in Mississauga, Pickering, […]
SCM Risk Management Services has partnered with PowerSoft to roll out iClarify to Canadian brokers. The property data valuation tool is now available to brokers using PowerSoft in Ontario, British Columbia, Quebec and Atlantic Canada.iClarify combines unique proprietary data derived from a repository of total loss claims and inspection data nationwide to generate 14 critical […]
Leading players in the London insurance market are coming together to produce the first jointly-owned compliance database for global insurance programs, the UK’s Association of Insurance and Risk Managers (AIRMIC) reported. The database will provide details of regulations on a territory-by-territory basis. The main focus of the database will be to provide global guidance on […]
Automobile personal accident lines showed a huge improvement in 2011 Q3 compared to the same period last year, according to figures released by the Office of the Superintendent of Financial Institutions (OSFI). During the third quarter of 2010, Canadian insurers automobile private passenger personal accident lines stood at 125.4%. Over the same period this year, […]
By Canadian Underwriter | November 28, 2011
2 min read
A powerful windstorm blew through Southern Alberta on Nov. 27, forcing the evacuation of Calgary’s downtown core and fuelling a grass fire in Lethbridge. Insurance Bureau of Canada (IBC) issued a release informing consumers about what they need to know if their property was affected. “First and foremost, those affected should ensure they and their […]
A group of 19 U.S.-based property and casualty reinsurers saw their collective combined ratio deteriorate from 96.6% in the first nine months of 2010 to 108.8% for the same period of 2011, according to a survey by the Reinsurance Association of America (RAA). The combined ratio is attributable to a 79.8% loss ratio and an […]
The brokers’ share in the distribution of personal P&C insurance in the Canadian marketplace will likely drop from 69% of the policies distributed in 2009 to a 50-50 split with their direct counterparts in the near future, said Lubo Li, senior director and practice leader at JD Power and Associates.Li discussed the major drivers of […]
By Canadian Underwriter | November 25, 2011
Chief information officers (CIOs) around the globe are concerned about a retiring maninframe workforce that could expose enterprises to increased costs and business risks, according to a survey for Compuware Corporation (Nasdaq:CPWR).In the study of 520 CIOs, 71% said they were concerned a looming mainframe skills shortage would hurt their business. Specifically, CIOs expressed concern […]
Pembridge Insurance’s ‘Broker Connectivity’ solution is now available to brokers using Applied Systems’ TAM (The Agency Manager) and WARP.Broker Connectivity allows brokers to access policy and billing information, as well as upload auto new business straight from the broker management system without the use of a portal.”We are very pleased to expand our Broker Connectivity […]
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