Topic
Insurance
Older Canadians fare better than younger drivers on winter roads: TD Insurance poll
November 29, 2011 by Canadian UnderwriterCanadians aged 55 or over are not only more confident winter drivers (27% versus 17% of Canadians aged 18-34), they are also more knowledgeable on how to stay safe on the roads, according to the TD Insurance Winter Driving Poll.“With…
Halifax RCMP conclude six-year stolen vehicle/insurance fraud investigation with charges against four people
November 29, 2011 by Canadian UnderwriterHalifax RCMP have identified and charged four individuals following an investigation of an alleged inter-provincial stolen vehicle/insurance fraud scheme.Police say the complex investigation began after police received a complaint about suspicious activity in 2005. The investigation determined the accused were…
Toronto, GTA drivers have highest car collision frequency in Ontario
November 29, 2011 by Canadian UnderwriterDrivers in nine Greater Toronto communities have the highest car collision frequency rate in Ontario, according to an Allstate Insurance Company of Canada study.The third annual Ontario Safe Driving Study examines Allstate Canada claims data and ranks drivers in Ontario…
SCM Risk Management Services partners with Powersoft to roll out iClarify to Canadian brokers
November 29, 2011 by Canadian UnderwriterSCM Risk Management Services has partnered with PowerSoft to roll out iClarify to Canadian brokers. The property data valuation tool is now available to brokers using PowerSoft in Ontario, British Columbia, Quebec and Atlantic Canada.iClarify combines unique proprietary data derived…
AIRMIC works towards regulatory compliance database for global insurance programs
November 29, 2011 by Canadian UnderwriterLeading players in the London insurance market are coming together to produce the first jointly-owned compliance database for global insurance programs, the UK’s Association of Insurance and Risk Managers (AIRMIC) reported. The database will provide details of regulations on a…
Global temperatures in 2011 tenth-highest on record
November 29, 2011 by Canadian UnderwriterGlobal temperatures in 2011 are currently the tenth highest on record and are higher than any previous year with a La Niña event, which has a relative cooling influence, according to a report from the World Meteorological Organization (WMO).The 13…
OSFI posts Q&As on legal agreements and other aspects of Reinsurance Security Agreements
November 28, 2011 by Canadian UnderwriterLegal opinions related to Reinsurance Security Agreements (RSAs) may be obtained from inside or outside counsel of a reinsurer or another third party, as opposed to a ceding company’s counsel, according to the Office of the Superintendent of Financial Institutions…
OSFI figures show claims ratios decreasing in auto personal accident, but increasing in property lines
November 28, 2011 by Canadian UnderwriterAutomobile personal accident lines showed a huge improvement in 2011 Q3 compared to the same period last year, according to figures released by the Office of the Superintendent of Financial Institutions (OSFI). During the third quarter of 2010, Canadian insurers…
Windstorm wreaks havoc on Southern Alberta
November 28, 2011 by Canadian UnderwriterA powerful windstorm blew through Southern Alberta on Nov. 27, forcing the evacuation of Calgary’s downtown core and fuelling a grass fire in Lethbridge. Insurance Bureau of Canada (IBC) issued a release informing consumers about what they need to know…
U.S. reinsurers see underwriting results erode in 2011 Q3
November 28, 2011 by Canadian UnderwriterA group of 19 U.S.-based property and casualty reinsurers saw their collective combined ratio deteriorate from 96.6% in the first nine months of 2010 to 108.8% for the same period of 2011, according to a survey by the Reinsurance Association…
CSL Global Announces the Opening of their Canadian Operation — CSL Global (Canada) Ltd.
November 28, 2011 Canadian Underwriter magazineCSL is a leading provider of professional claims, risk control and recovery services to the marine insurance industry and to clients operating in and around the global cargo, shipping, transportation and supply chain sectors. CSL Global is pleased to announce…
SGI CANADA provides Real-time Rating for Small Package Commercial-lines Business directly within Policy Works
November 28, 2011 Canadian Underwriter magazineSGI CANADA and Policy Works Inc. are ecstatic to announce the release of a real-time rating solution that begins and ends within the Policy Works Commercial Management System desktop environment. SGI CANADA brokers using the new Policy Works Commercial Management…