Federated Insurance

General

Sickness, death, travel advisories and airline schedule changes are among the top reasons why Canadians cancel their trips, according to Travel Insurance Coordinators Ltd. This is based on a review of more than 4,500 claims for trip cancellation insurance in 2006.
Guy Carpenter released a briefing paper estimating that director and officer insured losses related to the subprime market crisis in the United States could reach $2 billion for claims filed in 2007.
Climatologists are warning that the recent wildfires in California may be a result of climate change and a taste of things to come. Models are suggesting the North American west coast is experiencing longer-term precipitation patterns with several wet years in a row, followed by several that are drier than normal. These longer wet periods encourage vegetation growth, increasing the available fuel for such events, so that when the area does enter a dry period, a forest fire has even more surface vegetation on which to feed.
In the United States, the market for property and casualty will stay soft in 2008, as premiums are expected to either decline or remain flat according to actuarial and risk management experts at Watson Wyatt Worldwide. Rates for casualty insurance coverages may decline as much as 5% to 10% next year and rates for property insurance will be mostly flat.
The United States faces a high risk of major storms over the next 5 years according to Risk Management Solutions. The 5-year prediction for land falling hurricanes between 2008 and 2012 is "significantly above the risk averaged over the long term."
The Insurance Corporation of British Columbia says neck pain is the most frequent type of injury reported in motor vehicle crashes. More than 70% of people injured in a crash report a soft tissue injury to their neck and/or back. One estimate puts the direct costs for simple whiplash at over US$9 billion in the United States alone, not including the costs associated with the loss of work productivity.
Pricing and claims trends in Canada's property and casualty industry over the past year suggest Canadian insurers will see a $1 billion drop in net income between 2006 and 2007 - $4 billion in 2007 compared to $5 billion in 2006 according to a senior manager at KPMG.
The four emerging risks facing insurers moving forward are nanotechnology, climate change, aging infrastructure and the unknown, according to Robert Landry, president and CEO of Zurich's Canadian operation. With nanotechnology there are so many unknowns and such widespread use (by 2008 the demand for nanoscale materials with be $28 billion), we cannot be sure that there is not a risk to human health somewhere. In Canada, almost 80% of the infrastructure is past its due date - $130 billion is needed to fix already existing problems.
In Washington State, a couple was driving back to their hotel when a falling object struck their minivan - a 270-kilogram cow. The couple were unhurt but the cow, which had fallen off a cliff, had to be euthanized. The cow fell about 60 meters from the cliff and landed on the hood of the couples's minivan, causing heavy damage.
Sport bikes make up just 16% of the nearly 9,500 motorcycles in Manitoba but account for almost half of all motorcycle collisions in the province. Sport bikes have a racing style design that allows the rider to crouch over while driving. The bikes have 4-cylinder engines that produce high horsepower, accelerate quickly and weigh a lot less than touring bikes.

DROWSY DRIVING (Article from the CAA Magazine)

On average, collisions related to fatigue represent about 6.5% of reported crashes, according to Manitoba Public Insurance, but they may be under-reported as many drivers are reluctant to report falling asleep behind the wheel.

Drowsy driving warning signs:

You can't stop yawning
You have trouble keeping your eyes open
You can't remember the last few kilometers you've driven
Your car starts drifting within your lane
You're unable to concentrate and find that your thoughts wander

Myths about staying alert:

Drinking coffee - It may take a half hour for the caffeine in beverages to take effect, and it doesn't last long.
Open the window or turning up the radio - While these actions may help you feel more awake for an instant, they are not effective ways to maintain an acceptable level of alertness.