News
Ontario moves toward wage freeze for doctors through “rebalancing” OHIP fees
May 7, 2012 by Canadian UnderwriterOntario is moving toward a real wage freeze for doctors, expected to result in savings of $338.3 million in 2012-2013. “The government is updating and rebalancing OHIP fees to better reflect current medical practices and new technologies and to avoid…
Swiss Re results rebound in 2012 Q1
May 4, 2012 by Canadian UnderwriterSwiss Re rebounded nicely from a loss of US$665 million in 2011 Q1 to a gain of $1.1 billion in 2012 Q1, results that seem to auger well for the company’s 2011-15 plan. “We aim to capture the opportunities we…
EGI Financial acquires CUISA Managing General Agency
May 4, 2012 by Canadian UnderwriterEGI Financial Holdings Inc. has acquired CUISA Managing General Agency. Based in B.C., CUISA MGA provides insurance services to 160 credit union-owned insurance broker offices across the province. By gaining access to distribution through credit unions, the acquisition means EGI…
EQECAT releases Japan quake model
May 4, 2012 by Canadian UnderwriterEQECAT has released an earthquake model for catastrophic risk that uses three-dimensional representation of seismic source geometry to capture Japan’s unique seismic settings. Incorporated into EQECAT’s global multi-peril platform, the Japan model offers region-specific innovations in both hazard and vulnerability.…
New Brunswick Consumer Advocate for Insurance advocates on its own behalf
May 4, 2012 by Canadian UnderwriterNew Brunswick’s Consumer Advocate for Insurance is advocating for its own existence, resisting a recommendation in a July 2011 report to fold the office into a larger public utilities framework. The office was established in 2005 “not only as one…
Severe U.S. weather in April causes more than $650 million in insured damage
May 4, 2012 by Canadian UnderwriterSevere weather damage in the United States in April 2012 resulted in at least 105,000 claims and insurance payments exceeding $650 million, notes an Aon-Benfield report. In its April 2012 Global Catastrophe Recap, Aon Benfield references a major severe weather…
CARSTAR holds seminar on paintless dent repair estimating and techniques
May 4, 2012 by Canadian UnderwriterMore than 50 CARSTAR insurance partners attended a Paintless Dent Repair (PDR) estimating and techniques training seminar in April at CARSTAR’s corporate head office and training facility, CARSTAR Vision Park in Hamilton, Ontario. The three-hour course provided attendees both classroom and…
B.C, police and public insurer launch intersection safety campaign
May 3, 2012 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC), the Province of B.C. and police have launched a new initiative meant to put the brakes on intersection collisions, which represent about six of every 10 crashes in the province. Given 241 intersection…
Co-operators quarterly profit increases based on auto reforms, good weather
May 3, 2012 by Canadian UnderwriterCo-operators General Insurance Company (Co-operators General) reported its 2012 Q1 profit increased to $66.5 million from $25.8 million during the same period last year. “Earnings in the first quarter were positively impacted by favourable claims results from the Ontario auto…
Forget catastrophes, regulation is top concern for U.S. insurance executives: Lloyd’s
May 3, 2012 by Canadian UnderwriterRegulation is the number one challenge facing the U.S. insurance industry despite the financial burden associated with the elevated number of catastrophes in 2011, a Lloyd’s survey of insurance executives in April reveals. Lloyd’s canvassed 100 insurance executives at the…
Trucking industry gains access to contractor management services
May 3, 2012 by Canadian UnderwriterThe Canadian trucking industry has gained access to Contractor Management Services’ (CMS) propriety technology through NAL Insurance. CMS and NAL Insurance have partnered to help NAL’s client companies and independent contractors lower costs, reduce risk and ensure compliance, notes a…
Crawford names Global Technical Services leaders
May 3, 2012 by Canadian UnderwriterCrawford & Company (Canada) Inc. has named five adjusters as Global Technical Services (GTSSM) leaders within the areas of commercial property, transportation, environmental and media, entertainment and contingency. “The GTS leaders in each of these groups are experts in their…