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The Co-operators Group Limited and the Home Fire Sprinkler Coalition (HFSC) announced a formal partnership on Tuesday to advocate for and promote the installation of home fire sprinklers in new construction of homes in Canada. The HFSC said in a press release from The Co-operators that although fire sprinklers may be visible in a hotel […]
By Canadian Underwriter | February 23, 2016
2 min read
Waterloo, Ont.-based Economical Insurance reported on Friday a combined ratio of 97.4% for the full-year 2015, a 4.7 point improvement from the 2014 combined ratio of 102.1%. For the fourth quarter of 2015, ending Dec. 31, 2015, the combined ratio improved one point to 98.5% from 99.5% in Q4 2014. Economical said in a press […]
By Canadian Underwriter | February 21, 2016
4 min read
Drone technology offers the promise of bringing loss assessment and customer service to new heights. But meeting these lofty goals requires down-to-earth considerations, including Canada's existing legislative framework for unmanned aerial vehicles, which presents some challenges for developing an effective use strategy.
January 31, 2016
6 min read
An initiative born of the need to standardize items appearing on the first notice of loss (FNOL) assignment from the insurer to the repairer – first announced at last year’s Canadian Collision Industry Forum (CCIF) – is kicking into gear, with several insurers expected to adopt the new approach by mid-2016. “Insurers involved are committed […]
By Canadian Underwriter | January 31, 2016
NORTH MIDDLESEX, Ont. – The president of the Ontario Federation of Agriculture says barn fires are a harsh reminder of the dangers of farming. More than 2,000 pigs died early Tuesday in a barn fire north of London, Ont., and while the barn was destroyed, Ontario Provincial Police say no people were hurt in the […]
By Canadian Underwriter | January 19, 2016
ACE Limited and the Chubb Corporation announced on Wednesday that they have received all the regulatory approvals needed for ACE’s acquisition of Chubb, “a transaction that will create the world’s largest publicly traded property and casualty insurer,” according to ACE. The acquisition was announced on Canada Day 2015 and valued at approximately US$29.7 billion, based […]
By Canadian Underwriter | January 13, 2016
3 min read
Angela Stelmakowich, Editor
Insurers’ adoption of cloud, mobile and big data tools are set to grow, with more than half of surveyed insurers deploying some cloud-based systems, according to a recently released report from research and advisory firm Novarica. Although insurers continue to struggle with legacy systems, many are also deploying newer technologies, the report said. More than […]
By Canadian Underwriter | January 6, 2016
A study released in December includes detailed estimates of economic costs of severe weather events in 2020 and 2040 in two major Canadian cities. Those forecasts account for projected effects of climate change.
December 31, 2015
5 min read
There was little change in commercial insurance premiums reported by carriers surveyed by Towers Watson & Co. in the third quarter of 2015 compared to the same period in 2014, while loss ratios improved overall by 1%. “Commercial insurance prices were nearly flat during the third quarter of 2015,” consulting firm Towers Watson stated of its […]
By Canadian Underwriter | December 14, 2015
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