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Canadian Underwriter magazine launches new web page insNews.ca – Global Insurance News

May 7, 2013 by Canadian Underwriter

Canadian Underwriter has launched a new web page:  insNews.ca – Global Insurance News: providing news from leading trade journals globally (United States, United Kingdom, South Africa, Asia and Canada at launch, with additional jurisdictions to be added).  insNews.ca provides visitors…

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Companies don’t have adequate mitigation plans for natural catastrophes: survey

May 7, 2013 by Canadian Underwriter

While companies recognize potential risks posed by natural catastrophes, many have insufficient mitigation plans in place, according to global survey results from Zurich Insurance Group. There is a widespread perception that natural catastrophes are becoming not only more frequent, but…

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Gartner warns insurers not to focus on different tech strategies in isolation

May 7, 2013 by Canadian Underwriter

Information technology executives at insurance companies are working on strategies for mobile computing, social media services like Facebook, cloud computing and the increase in the volume of data, but a computer research firm suggests chief information officers need to consider…

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FM Global earmarks $435 million for its largest-ever membership credit

May 7, 2013 by Canadian Underwriter

Commercial property insurer FM Global has earmarked $435 million for premium reductions for its clients that renew their policies between June 30 and June 29, 2014, the  company announced Tuesday. The reductions, part of what FM Global calls “membership credits,”…

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SGI Canada, Kanetix team up for commercial small business online quoting service

May 7, 2013 by Canadian Underwriter

Small business owners in Saskatchewan can now obtain online quotes for two small business products, a first in the province as part of a new partnership between SGI Canada and Kanetix Ltd. The small business products – Toolbox Pak and…

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Ontario government to mandate sprinklers in retirement homes

May 6, 2013 by Canadian Underwriter

The Ontario government will release this Thursday changes to the province’s fire code designed to reduce fire risk in homes housing senior citizens and other vulnerable individuals. A spokesperson for Community Safety and Correctional Services Minister Madeleine Meilleur said Monday…

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Cat risk expert to host workshop on natural catastrophes and the global supply chain

May 6, 2013 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction will be hosting a workshop this month on how global catastrophes affect the supply chain. Catastrophic risk expert Paul Cutbush, senior vice president of Catastrophe Management at Aon Benfield Canada, will host the May…

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Insurance Bureau advises Canadians on emergency preparedness

May 6, 2013 by Canadian Underwriter

On the first day of Emergency Preparedness week, the Insurance Bureau of Canada was advising people Monday in Atlantic Canada and British Columbia to learn how to protect themselves from hurricanes and earthquakes. “IBC has made adapting to severe weather…

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Decrease in indexed price of vehicle parts market basket: Mitchell

May 6, 2013 by Canadian Underwriter

There was a decrease in the indexed price of vehicle parts for the market basket for the first time in the 10 years Mitchell International has been collecting data, according to company’s latest Industry Trends Report — Auto Physical Damage…

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Specialty insurance company says municipal liability reforms needed to avoid crisis

May 6, 2013 by Canadian Underwriter

Costs in the municipal liability insurance market in Ontario have been escalating substantially over the past few years, and reforms are needed now to avoid an insurance crisis, Frank Cowan Company says. The Princeton, Ont.-based specialty insurance company, which offers…

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Central Ontario township hit by flooding seeks disaster declaration

May 6, 2013 by Canadian Underwriter

The Township of Ramara, a community east of Lake Simcoe and about 80 km north of Toronto, is calling on Ontario’s minister of municipal affairs to declare the flood-damaged part of the township a disaster area. “If the minister does…

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Insurance Information Institute urges U.S. residents to consider flood policies as hurricane season approaches

May 3, 2013 by Canadian Underwriter

The Insurance Information Institute in the U.S. is reminding residents there to consider flood insurance protection, with less than a month before the Atlantic hurricane season begins. Early predictions are indicating that this year’s season, which begins June 1, will…