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Pembridge Insurance’s ‘Broker Connectivity’ now available to brokers using Applied Systems

November 25, 2011 by Canadian Underwriter

Pembridge Insurance’s ‘Broker Connectivity’ solution is now available to brokers using Applied Systems’ TAM (The Agency Manager) and WARP.Broker Connectivity allows brokers to access policy and billing information, as well as upload auto new business straight from the broker management…

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RMS rolls out iClarify to Quebec market

November 25, 2011 by Canadian Underwriter

Risk Management Services Inc. (RMS) has launched iClarify services throughout Quebec. iClarify is a validation tool providing brokers and insurers with residential property intelligence.More than 25 brokerages with portfolio representation across Quebec took part in pilot testing, which ran from…

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Canadian roads no safer today than they were five years ago: CAA poll

November 25, 2011 by Canadian Underwriter

Nine out of 10 Canadians feel no safer on the roads today than they did five years ago, according to a poll conducted for the Canadian Automobile Association (CAA).Forty-five per cent of 5,076 Canadians polled reported feeling less safe when…

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European economic turmoil creating Solvency II turmoil as well

November 24, 2011 by Canadian Underwriter

Recent economic turmoil in Europe has further exacerbated the delay and uncertainty of the implementation date of Solvency II, potentially creating a huge strain on companies during 2013, said Nick Dexter, a partner in KPMG’s UK operations.Dexter offered a Solvency…

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Ontario Risk Sharing Pool shows signs of improved results in 2011 H1, a possible indicator of effectiveness of auto reforms

November 24, 2011 by Canadian Underwriter

Ontario’s Risk-Sharing Pool (RSP) and Facility Association Residual Market’s auto loss ratios showed signs of improvement in the first half of 2011, possibly indicating a positive effect of the 2010 auto reforms, said Graham Gersdorff, senior valuation analyst at the…

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Quebec P&C insurers list top risks related to severe weather and climate change

November 24, 2011 by Canadian Underwriter

Severe weather and climate change can call insurers’ pricing assumptions into question, create work overloads in response to large claims events and potentially lead insurers to cut back on offering certain forms of coverage, according to a survey conducted by…

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Consolidating two actions can’t lead to consolidated arbitration being statute-barred: Ontario court

November 24, 2011 by Canadian Underwriter

Consolidating a court case concerning income replacement benefits (IRB) with a related arbitration matter on catastrophic injury determination, each of which was filed within their respective limitation periods, cannot result in the consolidated arbitration being statute-barred, the Ontario Superior Court…

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Vast majority of Canadian drivers admit to risky driving behaviours: Kanetix survey

November 23, 2011 by Canadian Underwriter

Talking on a mobile phone or texting behind the wheel may be the most recent targets of legislative action in Canada, but plenty of other distractions exist for drivers – including eating and drinking behind the wheel, speeding and following…

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Insured damage arising from Thailand flooding reaches between $15 billion and $20 billion: A.M. Best

November 23, 2011 by Canadian Underwriter

Two typhoons and unusually heavy monsoon rains in Thailand since July 2011 have caused estimated insured damage of between $10 billion and $20 billion, with a significant portion of that related to business interruption losses, according to a Nov. 23…

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Alberta P&C insurers see net income drop in first nine months of 2011

November 23, 2011 by Canadian Underwriter

A group of six Alberta incorporated property and casualty insurers reported a consolidated net income of $23.4 million for the first nine months of 2011, marking a drop from the $43.7 million reported during the same period of 2010. The…

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Saskatchewan police blitz results in 200 drivers being fined for cell phone use

November 23, 2011 by Canadian Underwriter

A Saskatchewan law enforcement traffic blitz resulted in more than 200 drivers being fined for using a cell phone while driving.Operation HandsFree was held on Nov. 17 and 18 across Saskatchewan. Traffic enforcement officers watched for drivers talking or texting…

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Reinsurance capital levels suggest hardening reinsurance market: Guy Carpenter

November 23, 2011 by Canadian Underwriter

Historical capital levels of Guy Carpenter’s Global Reinsurance Composite between 1998 and 2011 Q2 suggest reinsurance rates may soon be on the rise.As of 2011 Q2, the capital level of reinsurers grouped in Guy Carpenter’s Reinsurance Composite approached just over…