Topic
Associations
Moves and Views
June 1, 2015 by Canadian Underwriter1 Allianz Global Corporate & Specialty SE (AGCS) announced in May that Ulrich Kadow [1] has been appointed chief agent for AGCS Canada. Kadow was previously AGCS’s global head of package and multi-line, “where he established the mid-market property, liability…
Number of wildfires in Canada double since the same time last year: CatIQ
May 28, 2015 Jason Contant, Online EditorThere has been double the amount of wildfires nationally and almost nine times as many hectares have burned since the same time last year, said a speaker at the 6th annual Canadian Insurance Financial Forum 2015 on Wednesday. “The hot…
Lightning sparks 11 new wildfires in Alberta
May 26, 2015 by Canadian UnderwriterFour wildfires continue to burn out of control in Alberta, one day after lightning sparked 11 new wildfires and the province issued a full fire ban on all forests. As of 10 a.m. Tuesday, 19 wildfires were burning out of…
Attack of the Clones
May 1, 2015 Greg Meckbach, Associate EditorCriminals are getting more sophisticated at cloning vehicle identification numbers. But because there is no single tool specifically designed to detect cloning, some consumers who buy vehicles do not realize they are actually stolen or declared irrepairable, often leaving insurers on the hook.
Ontario ‘will remove excessive costs’ from auto insurance with reforms announced in budget: Insurance Bureau of Canada
April 24, 2015 by Canadian UnderwriterThe Insurance Bureau of Canada has ‘welcomed’ the auto insurance changes Ontario Finance Minister Charles Sousa proposed Thursday in his budget document for 2015-16, while Unica Insurance Inc. is pleased the ruling Liberals plan to require insurers to give discounts…
Ontario to reduce mandatory auto accident benefits, update catastrophic impairment definition
April 23, 2015 Greg Meckbach, Associate EditorThe Ontario government does not plan to mandate further cuts in private passenger auto premiums, but the ruling Liberals do plan to change the Insurance Act to reduce the total mandatory coverage, in the standard auto policy, for medical and…
Closing protection gap offers opportunity for insurance industry: Swiss Re
April 23, 2015 Angela Stelmakowich, EditorThe global insurance industry has an opportunity to provide solutions and products in light of the considerable protection gap – the difference between economic and insured losses from natural catastrophes – that currently exists and could grow larger, Christoph Oehy,…
Regulation plays important role in supporting a healthy economy: IBC’s Forgeron
April 22, 2015 Angela Stelmakowich, EditorRegulation plays an important role in achieving financial system safety and stability, but another key function is “to ensure that the financial sector does its job effectively and efficiently to support a healthy economy,” says Don Forgeron, president and CEO…
Federal government calls for National Disaster Mitigation Program proposals
April 21, 2015 by Canadian UnderwriterCanada’s Minister of Public Safety and Emergency Preparedness, Steven Blaney, has launched the first call for proposals for the National Disaster Mitigation Program (NDMP). In the federal government’s Economic Action Plan 2014, it committed to providing $200 million in funding…
Personal injury lawyers’ referral, contingency fee arrangements should be filed with Superintendent of Insurance: IBC
April 16, 2015 by Canadian UnderwriterReferral fee and contingency fee arrangements from personal injury lawyers should be filed with the Superintendent of Insurance for review of the impact on auto premiums in Ontario, suggested Ralph Palumbo, vice president, Ontario, with the Insurance Bureau of Canada.…
New tool launched to combat Canadian insurance fraud
April 8, 2015 by Canadian UnderwriterCANATICS, a not-for-profit organization created by the auto insurance industry to help fight fraud, launched a tool to help identify suspicious claims on Wednesday. CANATICS, or Canadian National Insurance Crime Services, analyzes pooled auto insurance industry data using state-of-the-art analytical…
The War on Staged Collisions
April 1, 2015 Ralph Palumbo, Vice President, Ontario, Insurance Bureau of CanadaThe “car accident business” is not only big and expensive, it is ever-changing and ever-evolving. A co-ordinated campaign by all players in the property and casualty industry is critically important to gain ground and drive back auto insurance fraud estimated to cost more than $1 billion a year in Ontario.