Topic
Insurance
Rainstorms, flooding batter Japan, China
July 30, 2012 by Canadian UnderwriterA 20-hour storm in China on July 21 delivered as much as 18 inches of precipitation to parts of the country in and near the capital of Beijing (population 20 million), causing approximately $1.6 billion in economic damage, catastrophe modeller…
Most U.S. renters don’t carry insurance: Allstate survey
July 30, 2012 by Canadian UnderwriterFifty-four per cent of 1,000 renters surveyed by Allstate said it would take three or more years to replace everything they lost if they didn’t have insurance, and yet only 45% of renters taking part in the poll have a…
Malik, Giffen & Burnett Claims Consultants Inc. Appoints Layne Gardner as Executive General Adjuster
July 30, 2012 Canadian Underwriter magazineMalik, Giffen & Burnett Claims Consultants Inc are pleased to announce Layne Gardner has joined the firm as an Executive General Adjuster effective July 11, 2012. Layne has been an adjuster since 1999, and for the past 7 years with…
Beyond Insurance Brokers Inc. opens new office in Thunder Bay
July 30, 2012 by Canadian UnderwriterBeyond Insurance Brokers Inc. has opened a new office in Thunder Bay, Ontario. The new location on Roland Street, which operates under the name Beyond Insurance (Superior) Inc., means the company’s insurance services will be available to the northern parts…
Caroline Schweppe now part of ClearRisk’s leadership team
July 30, 2012 by Canadian UnderwriterCaroline Schweppe has joined ClearRisk Inc.’s leadership team as new vice president of business development in Ontario. Schweppe has 20 years of experience as a marketing and business development executive, with more than 10 years working with IT start-ups within…
Beyond Insurance Brokers Inc Opens New Office in Thunder Bay, Ontario — Beyond Insurance (Superior) Inc
July 27, 2012 Canadian Underwriter magazineBeyond Insurance Brokers Inc, Whitby, Ontario is pleased to announce the opening of a new office in Thunder Bay, under the name: Beyond Insurance (Superior) Inc. This new location extends our insurance services to the northern part of Ontario under…
Anti-Fraud Task Force committee seeks public input on proposed measures to combat auto insurance fraud
July 27, 2012 by Canadian UnderwriterThe Steering Committee of the Ontario Auto Insurance Anti-Fraud Task Force is seeking public comment on several potential recommendations before it submits its final report to the government in the fall of 2012. The steering committee also reported its difficulty…
Pocket bike is not an automobile for insurance purposes: FSCO arbitrator
July 27, 2012 by Canadian UnderwriterAn insurance company has won an appeal that a motorized pocket bike should not be considered an automobile for insurance purposes under the Ontario Statutory Accident Benefits Schedule (SABS). Motors Insurance Corporation appealed the original ruling by Financial Services Commission…
B.C. insurance regulator fines unlicensed vehicle warranty seller $10,000 for breaching a cease and desist order
July 27, 2012 by Canadian UnderwriterB.C.’s Financial Institutions Commission (FICOM) has fined Sea Won Pak (Steven Park) $10,000 for selling auto protection warranties despite not being licensed to sell insurance and in breach of a March 2012 cease and desist order. In an order posted…
Low yields may lead insurers to higher-risk investments: Goldman Sachs
July 27, 2012 by Canadian UnderwriterSluggishly low interest rates and the ongoing European debt crisis have prompted more insurance companies to look at boosting their returns through potentially riskier investment vehicles, says a survey of chief investment officers (CIOs) by Goldman Sachs Asset Management (GSAM).…
Danielle Boulet steps down as chair of CCIR
July 27, 2012 by Canadian UnderwriterDanielle Boulet is stepping down as chair of the Canadian Council of Insurance Regulators (CCIR) after three years of service, according to a post on the CCIR’s website. Carolyn Rogers, CCIR vicechair and CEO and superintendent of the Financial Services…
Fair weather, Ontario auto boost 2012 Q2 profit of The Co-operators
July 27, 2012 by Canadian UnderwriterCo-operators General Insurance Company reported a consolidated net income of $64.4 million in 2012 Q2 compared to $26.4 million for the same quarter in 2011. For the first six months of the year, net income is $130.9 million, an increase…