Despite the recent losses to the industry from multiple North Atlantic hurricanes, The Allstate Corp. has reported underwriting income is up more than 20%, from $355 million in the third quarter of 2016 to $429 million in the three months ending Sept. 30, 2017. That increase is “due to higher premiums, a broad-based decline in […]
By Canadian Underwriter | November 7, 2017
3 min read
Insurance brokers are among the professionals expressing concern over proposed changes to federal taxes on business income, a Saskatchewan member of parliament said recently. On October 6, the majority of House of Commons members voted against continuing consultations on proposed tax changes announced July 18. The consultation period ended Oct. 2. One proposed change, if […]
By Canadian Underwriter | October 13, 2017
5 min read
SGI Canada has launched a farm business unit to help farmers understand their increasingly sophisticated insurance needs. As farms have become bigger and operations more expensive, farmers’ insurance needs have become more complex, SGI Canada said in a press release on Wednesday. The staff in the new unit “understand these changes in the industry and […]
By Canadian Underwriter | October 12, 2017
2 min read
Several evacuation orders related to the Kenow wildfire have been lifted, while others remain in effect as the fire continues burning in southwestern Alberta about two weeks after it was initially discovered. The mandatory evacuation order for Cardston County was lifted at noon on Thursday, followed by the mandatory evacuation order for the Municipal District […]
By Canadian Underwriter | September 15, 2017
2 min read
An Ontario court finding, that Intact Insurance Company has a duty to defend an organization sued in connection with a worker killed on the job, lacked “analysis of the critical issues that had to be addressed,” the Court of Appeal for Ontario recently ruled. Court records indicate that in August, 2013, Conrad Lafrenière, “suffered fatal injuries in […]
By Canadian Underwriter | September 14, 2017
4 min read
A combination wind shear and turbulence was one factor in a 2016 incident in Quebec in which a pilot had “temporary difficulty” controlling a Dash 8 below 2,000 feet, the Transportation Safety Board of Canada said in a recent investigation report. On Feb. 3, 2016 a DHC-8-102 operated by Air Canada Express was approaching Mont-Joli […]
By Canadian Underwriter | August 16, 2017
4 min read
Allianz Group has reported a 23% increase in operating profit for the second quarter of 2017 ending June 30 from 2.4 billion euros in Q2 2016 to 2.9 billion euros in the most recent quarter. Total revenues rose 2% to 29.994 billion euros in Q2 2017 from 29.402 billion euros in the prior year quarter, […]
By Canadian Underwriter | July 28, 2017
2 min read
Saskatchewan’s Auto Fund reported Thursday a loss ratio of 86.5% for the year ending March 31, 2017, up 6.1 points from 80.4% during the same period a year earlier, while the head of Saskatchewan Government Insurance suggested that with the federal bill proposing legalization of marijuana, there will be an increase in Saskatchewan in funding […]
By Canadian Underwriter | July 20, 2017
3 min read
Gore Mutual Insurance Company announced on Wednesday that is has agreed to acquire Howard Noble Insurance Limited, a regional broker in Georgian Bay and Simcoe County in Ontario. Gore Mutual CEO Heidi Sevcik noted in a press release that Noble Insurance will continue to operate in Collingwood, Barrie and Alliston, separately from Gore Mutual and […]
By Canadian Underwriter | June 29, 2017
2 min read
The Alberta Insurance Council (AIC) has announced that its General Insurance Council (GIC) has approved the issuance of a restricted certificate of authority authorizing both vehicle and equipment dealerships to sell gap insurance. Gap insurance is property insurance that covers all or a portion of the difference between the recovery received on primary automobile insurance […]
By Canadian Underwriter | June 12, 2017
2 min read