News
iv3 CUS’s parent company awarded Top 50 Best Managed Company designation
March 5, 2012 by Canadian UnderwriterReal Matters, the parent company of iv3 CUS, a property and casualty insurance inspection provider, is a 2011 winner of Canada’s 50 Best Managed Companies program. The company was also ranked the 7th fastest growing North American technology company on…
Increase in cottage rentals begs questions about insurance implications
March 2, 2012 by Canadian UnderwriterRenting a cottage is itself becoming a cottage industry. The question is: what are the insurance implications of having unknown holiday weekenders descending on your summer property? The Globe and Mail reports that the trend to rent out cottage properties…
SGI teams up with Students Against Drinking and Driving (SADD) to support Driving Awareness Week
March 2, 2012 by Canadian UnderwriterSaskatchewan Government Insurance (SGI) is joining Students Against Drinking and Driving (SADD) Saskatchewan in supporting Impaired Driving Awareness Week, proclaimed by the provincial government for Mar. 5-9, 2012 in Saskatchewan. The annual week, originally proclaimed in 1999, raises awareness of…
OSFI reminds insurers about outsourcing guidelines
March 2, 2012 by Canadian UnderwriterGiven the proliferation of new technology-based outsourcing services such as cloud computing, the Office of the Superintendent of Financial Services (OSFI) is reminding federally regulated insurers that its expectations contained in Guideline B-10 continue to apply. OSFI issued its revised…
British insurers want Solvency II equivalency higher on the agenda
March 2, 2012 by Canadian UnderwriterThe Association of British Insurers (ABI) wants to see the issue of non-EU countries’ equivalence with the proposed Solvency II capital regime to be bumped higher up the agenda. “The industry is investing hundreds of millions of pounds to implement…
CIP Society announces call for leadership award nominations
March 2, 2012 by Canadian UnderwriterThe CIP Society has announced its call for nominations for the 2012 National Leadership Awards, a national program recognizing excellence in the property and casualty insurance industry. The awards are divided into two categories: ‘Established Leaders’ and ‘Emerging Leaders.’ The…
Tornadoes kill 12, cause widespread property damage in southern United States
March 2, 2012 by Canadian UnderwriterAn estimated 30 tornadoes tore through six Midwest states on Feb. 28 and 29, killing at least 12 people and causing widespread property damage, Guy Carpenter reported. Nebraska, Kansas, Missouri, Illinois, Indiana and Kentucky were all affected by the severe…
Gaps in corporate travel policies create exposures for employers
March 1, 2012 by Canadian UnderwriterLess than one-third of companies have updated their corporate travel policies within the last year, leaving employees on business travel at risk, according to American Express Global Business Travel. American Express Global Business Travel analyzed 100 travel policies of global,…
Borden Ladner Gervais creates national insurance group
March 1, 2012 by Canadian UnderwriterBorden Ladner Gervais LLP has created a national insurance corporate/regulatory group. Crawford Spratt, Jill McCutcheon and Kelly Morris, all insurance law practitioners, have joined the firm. Spratt will serve as the national head of the group, McCutcheon as the group’s…
Preventing distracted driving means targeting distractions as well as drivers
March 1, 2012 by Canadian UnderwriterCORRECTION: Dr. Peter Burns of Transport Canada was incorrectly paraphrased in the original version of this article as saying billboards were a source of concern, when in fact he was speaking about emerging technologies. Also, Robyn Robertson said there were…
Outside Intelligence launches big data application for insurers
March 1, 2012 by Canadian UnderwriterOutside Intelligence, a search-based applications (SBA) provider, has launched an application for insurers that allows them to mine, analyse and organize ‘big data.’ Big Data consists of data sets that grow so large they can become awkward to use. Data…
Hands-free phones not necessarily much safer than handheld phones while driving
March 1, 2012 by Canadian UnderwriterCanadian legislation is focused on the dangers of using hand-held cell phones while driving, but using hands-free devices while driving may not be that much safer, according to panelists attending the Driven to Distraction conference in Toronto on Mar. 1.…