Industry
In order to help brokers determine whether a client requires standard coverage or increased coverage, ADS Forensics is releasing an Income Replacement Benefit (IRB) Policy Limit calculator. The calculator, available at no cost, will allow brokers to determine whether an insured requires the standard $400 coverage, or increased coverage at $600, $800 or $1,000. The […]
By Canadian Underwriter | October 13, 2011
1 min read
Pembridge Insurance Company was honoured with the 2011 Interface Partner Award. Applied Systems presented the award to honour achievements in, and dedication to, real-time communication. Pembridge was recognized for interface advancements in download and real-time rating for the “Broker Connectivity” technology solution, according to a Pembridge release. The solution allows brokers to begin and end […]
Insurers can expand their use of social data to build real-time risk profiles in underwriting, a Celent report suggests. In its report, ‘Using Social Data in Claims and Underwriting: Creating a Social Risk Profile,’ Celent recognizes that the use of social data is still in its formative stages.”However, it also must be remembered that, at […]
Groupe Promutuel, a Quebec-based property and casualty insurer, selected Guidewire ClaimCenter as its new claims management system for all personal, commercial and farm lines of business across its 27 member companies.By implementing ClaimCenter, Promutuel companies aim to:•Reduce claims cycle times to ensure fast, efficient customer service, and minimize the impact of claims on clients;•Improve relationships […]
The U.S. property and casualty’s combined ratio will likely creep higher than 106% in 2011, Conning Research & Consulting suggested.Conning’s ‘Property-Casualty Forecast & Analysis’ forecasts line of business and industry growth and performance for 2011-2013. It is based on Conning’s proprietary property and casualty industry model and analysis of key industry drivers, data and reporting. […]
Insurers will have to pay a distribution tax on income from publicly traded income trusts and partnerships for the 2011 taxation year, a report from PricewaterhouseCoopers (PwC) says.In its report, Insurance Industry: Key Tax Rates and Updates (2011-2012), PwC highlighted tax changes, rates and deadlines affecting the Canadian insurance sector.As of 2011, a distribution tax […]
By Canadian Underwriter | October 12, 2011
A.M. Best Co. has upgraded The Hartford Steam Boiler (HSB) Group and its members’ financial strength rating to A++ (Superior) from A+ (Superior).HSB and its members’ issuer credit ratings were also upgraded to ‘aa+’ from ‘aa-‘.The outlook for all ratings is stable, an A.M. Best release says.”HSB’s rating upgrades places it in line with its […]
PPG Canada Inc., Automotive Refinish has appointed Thane Higgs to the position of Ontario regional sales manager.Higgs recently held the position of director, sales and marketing in Canada with ITW Welding North America. Prior to that, he spent 12 years with Air Liquide, where his last position was as director of welding products and applications.In […]
Manitoba Public Insurance (MPI) has reported a net income of $34.2 million for the six months ended Aug. 31, 2011, a decrease from the $69.3 million it earned during the same period in 2010.”Compared to last year, bodily injury claims incurred, excluding the prior-year reduction in the provision of unpaid claims, decreased by $4.7 million,” […]
The Appraisal Institute of Canada (AIC) has appointed Keith Lancastle as its CEO, effective Sept. 19, 2011. Lancastle has more than 25 years of experience in the not-for-profit sector. Most recently, he led the Forest Products Sector Council (FPSC) as their first executive director. While at the FPSC, he was responsible for providing overall strategic […]
By Canadian Underwriter | October 11, 2011
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