Average premium for auto insurance was $731 last year, a drop from $742 the year before.
Make no mistake, 2011 was a difficult year for the insurance industry. Given the scale of the claims, a loss is unsurprising but it reflects what we’re here to do – help communities and businesses rebuild after disaster,” said Lloyd’s Chief Executive Richard Ward
Many insurers continue to view Canada as a good place to do business, which has continued to fuel competition in the marketplace; however, mergers and reorganizations in the insurance industry could negatively impact available capacity in 2012
“Premium growth will continue to improve from where we were in the last three or four years, but I don’t expect in 2012 that we’ll see a massive increase in premium,” said Matt Mosher, A.M. Best Co.’s senior vice president of global ratings
Mr. Bernard Tanguay has been appointed to the position of Senior Vice-President of newly-formed SSQ Insurance Company Inc.
Tornadoes and earthquakes in Canada, one year after Ontario’s auto insurance reforms, 9/11 ten years later and other highlights from the third quarter of 2011
ICBC President and CEO Jon Schubert has written an open letter to BC insureds in regards to the company’s Q3 results and their impact on rates
SCM says acquisition aligns with the company’s long-term plan for growth while signaling its entrance into a product and market segment “that is complementary to the continuum of insurance and risk management services it currently offers its clients.”
The Canadian Bankers Association has opposed regulation, arguing that the restriction would limit competition in the insurance market.
“Solvency II has created huge demand for actuarial and risk management skill-sets.”
Failure to properly acknowledge, investigate, pay or deny claims within specified time frames tops this year’s list, up one spot from 2010
“One or two very large [hurricanes] on top of the catastrophe losses in the first half of the year could be enough to spark higher premiums, at least for property risks,” said Frederick Savage, FCII, ARM, RIMS Board of Directors
Canada’s third-largest insurer announced Thursday a five-year plan to ramp up its coverage in the $20-billion U.S. voluntary insurance market
RSA’s Adrian Hall, who currently heads the Personal Specialty Insurance (PSI) business, has been named Managing Director of RSA Travel which includes the etfs brand
The expectation of an active U.S. hurricane season, combined with greater insurer discipline, increases the potential for a changing market dynamic through the balance of 2011, says Marsh
Global insurance industry back to a growth phase, especially in emerging markets like China which became the sixth largest insurance market in 2010
etfs currently writes almost $100 million in premiums
“Six months after the implementation of the Ontario auto reforms, we have seen a decline in the volume of claims; however we remain concerned about a potential increase in bodily injury claims,” said Kathy Bardswick, President and CEO
