Topic
Insurance
App envisions making disaster preparation easy
August 22, 2012 by Canadian UnderwriterBeing prepared for a disaster, whatever form that disaster takes, is a key objective of a new mobile disaster preparedness app from the Insurance Information Institute (I.I.I.). “Over the past decade, insurers paid nearly $250 billion in claims to millions…
Saskatchewan blitz seeks to curb intersection collisions
August 22, 2012 by Canadian UnderwriterTraffic enforcement officers will be focused on intersection safety during Saskatchewan Government Insurance (SGI)’s two-day blitz, Operation Crossroads, which runs Aug. 22 to 23. Enforcement staff across the province, but with a concentrated effort in the Prince Albert area, will…
New business upload to improve efficiencies for Lambton Mutual, brokers
August 22, 2012 by Canadian UnderwriterLambton Mutual is implementing automated new business upload for automobile and habitational policies, a functionality expected to provide significant efficiency gains for both the company and its brokers. Part of Lambton’s efforts to streamline the new business submission process, the…
AVA MARINE GROUP INC. RELEASES A PAPER ON SOMALI PIRACY AND THE USE OF ARMED GUARDS ON MERCHANT VESSELS.
August 21, 2012 AVA Marine Group Inc.AVA Marine Group led by Kaivan H Chinoy, the principal marine surveyor, has published a paper on the Somali Piracy discussing in detail the continuing need for arming merchant vessels with security guards to fend off pirate attacks. The paper…
Flooding, sea level rise among city’s greatest projected risks
August 21, 2012 by Canadian UnderwriterA risk assessment of local climate change events for Victoria, British Columbia as projected to 2050 indicates flooding and sea level rise are among the greatest risks. “The projected impacts of most climate change-related events were determined to, individually, have…
Celent report focuses on Software as a Service (SaaS) case study
August 21, 2012 by Canadian UnderwriterSoftware as a Service (SaaS) has gained interest in the insurance world recently, with a growing number of insurance companies considering the SaaS model for core insurance systems, notes a new report from Celent. Two years ago, Legal & General…
RSA Simplifies Document Access with Brovada
August 21, 2012 Brovada Technologies Inc.Toronto, ON – August 21, 2012 – RSA Canada has chosen Brovada’s NexCenter to provide single-sign-on capability to its EZ-Docs Self Service tool for brokers. This functionality will allow brokers who are registered for EZ-Docs to access their on-line documents…
U.S. can expect hurricane loss of $10 billion once every four years
August 21, 2012 by Canadian UnderwriterTwenty-eight hurricanes that wreaked havoc on the United States in years past would likely produce insured losses reaching or exceeding $10 billion if they struck today, suggests a new study by Karen Clark & Company (KCC). The research concludes the…
Fitch Ratings issues forecast on U.S. p&c industry
August 21, 2012 by Canadian UnderwriterProperty and casualty insurers in the United States are expected to post better underwriting results this year as firmer pricing patterns spread across the industry, notes a new report from Fitch Rating Service. “Fitch estimates that 2012’s underwriting results will…
Risk assessment key to address anti-corruption risk exposure
August 20, 2012 by Canadian UnderwriterCanadian companies operating abroad would be well-advised to conduct comprehensive risk assessments to guard against anti-corruption risk exposure, recommends a recent post by John Boscariol on Lexology. “Canadian companies operating abroad can face particularly high anti-corruption risk exposure depending on…
ICBC receives approval for 11.2% rate hike
August 20, 2012 by Canadian UnderwriterThe British Columbia Utilities Commission, “after considering the evidence and arguments of all parties,” has given the green light to an 11.2% rate hike for universal compulsory automobile insurance in the province for 2012. The approval of the double-digit increase…
Insurance fraud in U.S. a $30-billion problem: Deloitte
August 20, 2012 by Canadian UnderwriterProperty and casualty insurers need to adopt a multi-pronged approach to combat a growing fraud problem in the United States, notes a recent report from Deloitte. The report, A Call to Action: Identifying Strategies to Win the War Against Insurance…