Economical recommits support for Prostate Cancer Canada to help men realize importance of early detection

HALIFAXSept. 25, 2017 – Prostate cancer is the most common cancer to affect Canadian men. During their lifetime, one in seven men will be diagnosed with the disease, including an estimated 21,600 Canadian men and their families facing a diagnosis this year. Thanks to a $17,000 donation, Economical Insurance, one of Canada’s leading providers of home, auto, and business insurance, is continuing to help raise awareness of prostate cancer in Atlantic Canada.

“A man’s best chance of survival is early detection,” said Karen Kaminska, Economical’s Regional Vice-President, Sales and Distribution, Atlantic Canada. “We want to help men over 40 realize the importance of getting their PSA checked annually to establish their baseline. That’s why we’re so proud to once again sponsor the annual Wake Up Call Breakfast events in Saint John on September 26Moncton on October 25Halifax on October 30, and Cape Breton in February 2018.”

“Sadly, a high percentage of men aren’t aware of their chances of developing this disease,” said Ellen Townshend, Executive Director of Prostate Cancer Canada, Atlantic Region. “We are so grateful for Economical’s generous support once again this year. These Wake-Up Call Breakfasts help us bring the community together to get people talking about prostate cancer and the importance of early detection.”

Since 2001, Wake Up Call Breakfasts across Canada have attracted more than 26,000 business professionals and raised more than $3 million to fund Prostate Cancer Canada’s research, education, and survivorship initiatives. For the past 16 years, the death rate has been declining significantly by an average of 3.3% per year from improved testing for prostate cancer and better treatment options.

About Prostate Cancer Canada
Prostate Cancer Canada is the leading national foundation dedicated to the prevention of the most common cancer in men through research, advocacy, education, support and awareness. As one of the largest investors in prostate cancer research in Canada, Prostate Cancer Canada is committed to continuous discovery in the areas of prevention, diagnosis, treatment, and support. For more information please visit prostatecancer.ca or follow us on Twitter @PCCAtlantic or Facebook at Prostate Cancer Canada.

About Economical Insurance
Founded in 1871, Economical is one of Canada’s leading property and casualty insurers, with more than $2.2 billion in annualized premium volume and more than $5.5 billion in assets as at June 30, 2017. Based in Waterloo, this Canadian-owned and operated company services the insurance needs of more than one million customers across the country. Economical conducts business under the following brands: Economical Insurance, Economical, Western General, Economical Select, Perth Insurance, Sonnet, Petsecure, Economical Financial, and Family Insurance Solutions.

SOURCE Economical Insurance

Intact Financial Corporation Announces All Regulatory Approvals Obtained for Acquisition of OneBeacon Insurance Group, Ltd.

Intact Financial Corporation (TSX: IFC) today announced that all regulatory approvals required to complete the previously announced proposed acquisition (Acquisition) of OneBeacon Insurance Group, Ltd. (NYSE: OB) (OneBeacon) have been obtained. The Acquisition is expected to close on or about September 28, 2017(Acquisition closing date). IFC will acquire OneBeacon for US$18.10 per OneBeacon common share in cash, resulting in an aggregate purchase price of approximately US$1.7 billion. Upon completion of the Acquisition, OneBeacon will be an indirect wholly-owned subsidiary of IFC and will continue to operate as OneBeacon Insurance Group, Ltd. in the United States.

Information for Holders of Subscription Receipts

IFC expects that, effective the Acquisition closing date, the subscription receipts issued by IFC on May 11, 2017(Subscription Receipts) to fund a portion of the purchase price for OneBeacon will automatically be exchanged for IFC common shares in accordance with the terms of the subscription receipt agreement.

IFC expects that trading in the Subscription Receipts will be halted on the Toronto Stock Exchange (TSX) prior to market opening on the Acquisition closing date, that the transfer register maintained by the subscription receipt agent will be closed and that the Subscription Receipts will be delisted by the TSX after close of trading on the Acquisition closing date. The common shares to be issued on the exchange of the Subscription Receipts are expected to begin trading on the TSX on the Acquisition closing date.

Holders of Subscription Receipts as of September 15, 2017 will be entitled to receive a dividend equivalent payment on September 29, 2017 of $0.64 per Subscription Receipt that they held on September 15, 2017.

About Intact Financial Corporation

Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada with over $8.0 billion in annual premiums. Supported by over 12,000 employees, the Company insures more than five million individuals and businesses through its insurance subsidiaries and is the largest private sector provider of P&C insurance in British ColumbiaAlbertaOntario, Québec, Nova Scotia and Newfoundland & Labrador. The Company distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly owned subsidiary, BrokerLink, and directly to consumers through belairdirect.

About OneBeacon Insurance Group

OneBeacon Insurance Group, Ltd. is a Bermuda-domiciled holding company that is currently publicly traded on the New York Stock Exchange under the symbol “OB.” OneBeacon’s underwriting companies offer a range of specialty insurance products sold through independent agencies, regional and national brokers, wholesalers and managing general agencies. Each business is managed by an experienced team of specialty insurance professionals focused on a specific customer group or industry segment, and providing distinct products and tailored coverages and services. OneBeacon’s solutions target group accident and health; architects and engineers; commercial surety; entertainment; environmental; excess property; financial institutions; financial services; healthcare; management liability; ocean and inland marine; public entities; technology; and tuition refund. For further information about OneBeacon products and services visit: Onebeacon.com and to remain up to date on OneBeacon news, follow OneBeacon on Twitter @OneBeaconIns or visit OneBeacon’s online newsroom: www.onebeacon.com/newsroom.

Non-IFRS Measures

The Company uses both International Financial Reporting Standards (IFRS) and certain non-IFRS measures to assess performance. Non-IFRS measures do not have any standardized meaning prescribed by IFRS and are unlikely to be comparable to any similar measures presented by other companies. See section 23 of Management’s Discussion and Analysis for the year ended December 31, 2016 for the definition and reconciliation to the most comparable IFRS measure. Management analyzes performance based on underwriting ratios such as combined, expense, loss and claims ratios, MCT, and debt-to-capital, as well as other non-IFRS financial measures, namely DPW, Underlying current year loss ratio, Underwriting income, NOI, NOIPS, OROE, ROE, AROE, Non-operating results, AEPS, Cash flow available for investment activities, and Market-based yield. Additional information about the Company, including the Annual Information Form, may be found online on SEDAR at www.sedar.com.

SOURCE Intact Financial Corporation

The Crawford 360° Claims Evolution

The insurance industry is evolving – incorporating and adopting new technology, responding to emerging risks, and relying on data analytics to address and respond to business and market needs. Crawford & Company (Canada) Inc. is not only responding to these market developments, but forging the future of claims management in its 360° approach.  Crawford 360° is a fully integrated claims management solution combining digital innovation with enhanced service plug-ins, progressing a file through each phase of the claims cycle.

(Alternatively follow this link vimeo.com/234884340)

With the development of some very unique services, such as Global Technical Services®,  Contractor Connection®, and Origin & Cause combined with the expansion of our insurance technology service solutions through Crawford iQ®, ClaimsALERT™ Crawford Compliance™ and WeGoLook®, Crawford’s capabilities exceed that of a traditional independent adjusting firm.

“Crawford’s range of in-house services and IT capabilities enable us to provide unique and enhanced service solutions that address both the current and future needs of our clients, regardless of the size or complexity of the loss or event,” said Pat Van Bakel, president & CEO, Crawford & Company (Canada) Inc.

Our seamless, full-service claims management solution expedites the claims process through leveraging the appropriate experts, use of assessment and risk mitigation tools, data management and analytics capabilities and professional expertise.  Crawford’s portfolio of services is offered to our clients as a simplified, all-inclusive service solution to enhance the overall claims experience.

About Crawford®
Crawford & Company (Canada) Inc. is a wholly owned subsidiary of Crawford & Company. Based in Atlanta, Ga.Crawford & Company is one of the world’s largest independent provider of claims management solutions to the risk management and insurance industry as well as self-insured entities, with an expansive global network serving clients in more than 70 countries. The Crawford Solution® offers comprehensive, integrated claims services, business process outsourcing and consulting services for major product lines including property and casualty claims management, workers compensation claims and medical management, and legal settlement administration. The Company’s shares are traded on the NYSE under the symbols CRD-A and CRD-B.

SOURCE Crawford & Company (Canada) Inc.

Esurance launches in Ontario with smart technology and financial savings

Esurance is expanding its online auto and home insurance to Ontario. Esurance uses advanced technology to offer an easy online experience and intuitive tools that help take the hassle out of insurance – something that’s sure to appeal to digitally-minded Ontarians.

 

Esurance is here to help Ontarians understand their insurance options so they get the best value for their money. As Ontario residents continue to experience some of the highest home ownership and auto insurance costs in the country, a recent survey conducted by Leger found that almost half (45%) of Ontarians do not believe that their current insurance company wants to save them money and eight in ten (79%) would consider switching providers for one designed to save them money.

“We are absolutely thrilled to enter the Ontario market, because we know Ontarians are looking for an insurance company that will provide better value and an easy, effortless experience. Not only do we offer value in terms of dollars, we also help our customers save time by leveraging technology whenever we can,” said Saskia Matheson, General Manager, Esurance Canada.

Insurance can be complicated. That’s why Esurance simplifies the process starting with the initial quote, explaining in plain English how rates are calculated. This helps customers become well-informed and empowered to make smart decisions about their coverage. And the claims process is just as easy. Esurance responds fast using smart technology to help customers get back to normal as quickly and painlessly as possible.

“Our customers love that they have access to our services and their policy from anywhere, at their convenience.  What’s more, through our intuitive online tools, consumers can see exactly what coverage is right for them and where they’re saving money, bringing a new level of transparency to the insurance process,” said Matheson.

Better value at an affordable price

The survey also found that almost one in four Ontarians (38%)  believe their insurance provider doesn’t give them better value, and more than half (52%) would consider switching to one that offers value-add tools. Online policy management and easy billing are at the core of Esurance’s value-add approach.

Esurance is changing insurance for the better, leveraging technology to reduce some of the costs that encumber traditional insurance companies, so customers receive quality coverage at an affordable rate, with more ways to save. For instance, the Esurance DIY Home Inspection app is the industry’s first home inspection app tool that enables customers to self-inspect their homes for additional policy discounts.

In fact, there are more than 10 ways for Ontarians to easily reduce their home insurance costs with Esurance. For example, customers can bundle their home and auto insurance for additional savings, and new customers can take advantage of the “Welcome Home” discount when they switch to Esurance.

Drivers in Ontario can also benefit, with special rate savings for safe experienced drivers, including a good driver household discount.  At Esurance, the way drivers manage both their auto policy and their behaviour behind the wheel can qualify them for cash-saving discounts. And to help Ontarians make smart decisions about auto insurance, Esurance created Coverage Counsellor, a proprietary online tool that provides a customized car insurance estimate in minutes.

Though Esurance is one of the first companies to offer online auto and home insurance in Canada, knowledgeable experts are also available to review coverage options over the phone. As a member of the Allstate family, Esurance has the financial strength and reliability of one of the most trusted names in insurance.

Survey highlights and methodology

A survey of 1,000 Ontarians was completed online from July 10 – 13, 2017 using Leger’s online panel, LegerWeb. Key findings include:

  • Three quarters of Ontarians (76%) carry car insurance and more than half (54%) carry homeowner insurance
  • More than half (52%) of Ontarians noted that if there was an insurance company that provided value-add tools such as online policy management and easy billing, they would consider switching from their current provider and eight in ten (79%) felt the same way about a company designed to save them money
  • Almost half (47%) of Ontarians didn’t agree that their insurance company wanted to save them money
  • One in four (38%) people didn’t feel that their insurance company wanted to give them better value
  • Almost a quarter (22%) of Ontarians do not trust their insurance company to look out for their best interest

Esurance is an Allstate company, with homeowner and auto insurance available across the US, Alberta and Ontario. For more information, visit www.esurance.ca.

About Esurance®
Esurance provides homeowners and auto insurance direct to Canadian consumers in Ontario and Alberta and offers multiple insurance products in the U.S. including auto, homeowners, motorcycle, and renters. Esurance was a pioneer in offering insurance online in the U.S. in 1999. With an award-winning website and innovative tools, Esurance is the smart choice for tech-savvy consumers in Canada and the U.S. As a member of the Allstate family, Esurance is a reliable choice for insurance, offering anytime, anywhere service just a click, call, or tap away. For more information, visit www.esurance.ca or call 1-888-ESURANCE (1-888-378-7262).

SOURCE Esurance

B.C. regulators order insurance firm, payday lenders to stop ‘deceptive’ sales tactics

An insurance company has been ordered to stop selling policies through two payday lenders and provide refunds after an investigation by British Columbia regulators.

The Financial Institutions Commission says it has issued a cease and desist order against Western Life Assurance Company to stop the sale of creditor group insurance through Venue Financial Ltd. and Cashco Financial Inc.

It says the payday lenders aggressively and deceptively sold Western Life’s insurance products and are prohibited from such sales involving any insurer in B.C. until the commission is satisfied their practices are conducted properly.

“A collaborative investigation produced evidence that payday lenders, Venue Financial Ltd. and CashCo Financial Inc., engaged in aggressive and deceptive sales of Western Life insurance products,” says a written statement from the commission.

It partnered on an investigation with Consumer Protection BC, and says legally required disclosures are not being made to consumers who aren’t told they’ve bought the insurance or that it’s a voluntary product.

The joint investigation also found consumers are not given enough information, or an opportunity, to make an informed decision about  whether they want or need insurance that may be sold to people who aren’t eligible for coverage.

The commission says Western Life must contact everyone who’s been insured through payday lenders and provide details of the insurance they bought, confirm eligibility and offer to cancel the insurance and give refunds to affected consumers.

Beazley Canada strengthens its cyber risk team

Specialist insurer Beazley has appointed Miki Ho as cyber risk underwriter. Based in the company’s Toronto office, Mr Ho’s focus will be on developing Beazley’s portfolio of cyber liability and technology risks for large enterprises in Canada.

Mr Ho joins Beazley from Allianz where he was a senior underwriter for cyber and professional liability risks, following previous underwriting and broking roles with a portfolio of clients in the financial institutions sector.

Paul Bantick, Beazley’s Technology, Media & Business focus group leader says: “We are excited by the opportunities we see to support Canadian businesses against the risks of cyber liability and data breach. With the cyber and technology risk landscapes changing rapidly and the number of data breaches unabated, the demand for cyber insurance products is growing strongly. With Miki having joined our team, we are well placed to take advance of this growing demand and the opportunities that exist in the Canadian market.”

Phil Baker, head of Beazley Canada, adds: “Beazley is a market-leading provider of cyber liability, technology errors & omissions, and miscellaneous professional liability coverage, with a global team structured to deliver local solutions. Miki will play a pivotal role in delivering those local solutions to brokers and clients in Canada.”

Note to editors:

Beazley plc is the parent company of specialist insurance businesses with operations in Europe, the US, Canada, Latin AmericaAsia and Australia. Beazley manages six Lloyd’s syndicates and, in 2016, underwrote gross premiums worldwide of $2,195.6 million. All Lloyd’s syndicates are rated A by A.M. Best.

Beazley’s underwriters in the United States focus on writing a range of specialist insurance products. In the admitted market, coverage is provided by Beazley Insurance Company, Inc., an A.M. Best A rated carrier licensed in all 50 states. In the surplus lines market, coverage is provided by the Beazley syndicates at Lloyd’s.

Beazley is a market leader in many of its chosen lines, which include professional indemnity, property, marine, reinsurance, accident and life, and political risks and contingency business.

For more information please go to: www.beazley.com

SOURCE Beazley

Page 4 of 93« First...23456...102030...Last »

Subscribe To Our Newsletter

Join our mailing list to receive the latest news and updates from ILSTV

You have Successfully Subscribed!

Pin It on Pinterest