Topic
Insurance
Lombard Canada Delivers New Business Upload with Brovadas NexCenter
November 25, 2011 Brovada Technologies Inc.Toronto, ON – November 25, 2011 – Lombard Canada Ltd. is pleased to announce the successful production launch of their personal lines new business upload on Dec. 5th, 2011. This functionality gives Lombard’s brokers the ability to submit new business applications…
Economical posts 2011 Q3 profit of $1.4 million despite drag effect of Goderich, Ontario tornado losses
November 25, 2011 by Canadian UnderwriterThe Economical Insurance Group reported a consolidated net income of $1.4 million for 2011 Q3, despite incurring $31.3 million in losses due to weather-related catastrophic events.The result also recognizes $23.2 million in investment impairments as a result of the exceptional…
Pembridge Insurance’s ‘Broker Connectivity’ now available to brokers using Applied Systems
November 25, 2011 by Canadian UnderwriterPembridge 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…
RMS rolls out iClarify to Quebec market
November 25, 2011 by Canadian UnderwriterRisk 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…
Canadian roads no safer today than they were five years ago: CAA poll
November 25, 2011 by Canadian UnderwriterNine 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…
European economic turmoil creating Solvency II turmoil as well
November 24, 2011 by Canadian UnderwriterRecent 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…
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 UnderwriterOntario’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…
Quebec P&C insurers list top risks related to severe weather and climate change
November 24, 2011 by Canadian UnderwriterSevere 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…
Consolidating two actions can’t lead to consolidated arbitration being statute-barred: Ontario court
November 24, 2011 by Canadian UnderwriterConsolidating 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…
Vast majority of Canadian drivers admit to risky driving behaviours: Kanetix survey
November 23, 2011 by Canadian UnderwriterTalking 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…
Insured damage arising from Thailand flooding reaches between $15 billion and $20 billion: A.M. Best
November 23, 2011 by Canadian UnderwriterTwo 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…
Alberta P&C insurers see net income drop in first nine months of 2011
November 23, 2011 by Canadian UnderwriterA 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…