Topic
Associations
CAA Insurance expands strategic relationships in broker market with appointment of 17 brokerages
June 16, 2016 by Canadian UnderwriterCAA Insurance Company announced on Thursday that it has appointed 17 “well-known and experienced brokerage firms across Ontario” to provide its customers with more choice. “The decision to enter the broker market was a simple one,” said Matthew Turack, president…
Data breaches detection, escalation costs highest in Canada: global IBM/Ponemon report
June 16, 2016 by Canadian UnderwriterDetection and escalation costs related to data breaches were the highest in Canada and lowest in India, note findings of a new global survey released Wednesday. “The average detection and escalation costs for Canada was US$1.60. In contrast, the average…
Federal investment will help Manitoba farmers predict the effects of flood and drought on farmland
June 13, 2016 by Canadian UnderwriterAgriculture and Agri-Food Canada (AAFC) has announced an investment of more than $1.1 million to develop a hydrology model of Manitoba’s Assiniboine River Basin that will help predict the effects of flooding, excess moisture and extreme drought on agriculture lands.…
U.S. insurers paid US$5.37 billion in total hail claims for 2008-14; 2011 and 2014 costliest years
June 13, 2016 by Canadian UnderwriterThe years of 2011 and 2014 were the costliest years for hail-related vehicle claims in the United States during a 2008-14 study period, with losses concentrated in the country’s midsection, according to an updated analysis by the Highway Loss Data…
Practical drift an invisible, potentially catastrophic threat to supply chain
June 9, 2016 by Angela StelmakowichOne of the biggest threats to a company’s supply chain cannot even been seen, but surely will be felt should it take hold, Nexbridge Inc.’s Randall Becker suggested Wednesday during the World Conference on Disaster Management in Toronto. Practical drift,…
2013 Calgary floods spawned ‘increased demand’ for services from non-profits: World Conference on Disaster Management speaker
June 9, 2016 Greg Meckbach, Associate EditorNon-profit organizations need to be prepared for natural disasters so they can help deliver public services, speakers suggested Tuesday at the World Conference on Disaster Management. From research conducted after the floods in affecting southern Alberta in 2013, the Calgary…
CIP Society Fellows’ Golf Tournament, June 6, 2016
June 6, 2016 by Canadian UnderwriterThe annual CIP Society Fellows’ Golf Tournament took place on Monday, June 6 at Wyndance Golf Club in Uxbridge, Ontario. Although a bit windy, the rain held off and the sun shined for golfers. This year, the winning team was…
Insurance Brokers Association of Ontario searching for new CEO after departure of Jim Murphy
June 1, 2016 by Canadian UnderwriterThe Insurance Brokers Association of Ontario’s (IBAO) executive committee announced on Wednesday that Jim Murphy has moved on from his role as CEO of IBAO, effective immediately. “This is an important time for IBAO,” Michael Brattman, IBAO chair, said in…
Nominations for Dale Rempel Award of Excellence now open
May 31, 2016 by Canadian UnderwriterThe Insurance Brokers Association of Canada (IBAC) is accepting nominations for the 2016 Dale Rempel Award of Excellence, which recognizes an individual who has demonstrated commitment and support of education and life-long learning for those working in the property and…
Floods in U.K. expected to produce repair bill of £1.3 billion, good progress on repairs to date
May 26, 2016 by Canadian UnderwriterThe average cost of a domestic claim for the floods caused by Storms Desmond, Eva and Frank – which hit the United Kingdom in December and early January – is higher than usual, with the Association of British Insurers (ABI)…
Insurance industry ‘has to be ready’ for automated vehicles: Insurance Institute speaker
May 25, 2016 Greg Meckbach, Associate EditorThe rollout of fully autonomous vehicles for consumers “is quite a bit further off than we might expect,” and experts need to educate consumers about the limitations of the technology, but insurance providers should get ready over the next five…
World Bank announces “first-ever insurance market for pandemic risk”
May 25, 2016 by Canadian UnderwriterThe World Bank Group has announced that it is creating the Pandemic Emergency Financing Facility (PEF), “an innovative, fast-disbursing global financing mechanism designed to protect the world against deadly pandemics, which will create the first-ever insurance market for pandemic risk.”…