Topic
Insurance
Alberta cops lay more than 400 charges over long weekend related to driving without valid insurance or driver’s license
April 28, 2011 by Canadian UnderwriterAlberta Sheriffs and RCMP laid 4,191 charges across the province over the Easter long weekend, including 406 non-hazardous violations for driving without insurance or with suspended driver licenses.About 83% of the total number of charges were speeding violations. Twenty-eight were…
One-in-five Canadians under 35 admit to lying when applying for insurance: TD survey
April 28, 2011 by Canadian UnderwriterOne-in-five Canadians under the age of 35 admit they have purposely lied or omitted important facts when filling out an insurance application, according to a study by TD Insurance. TD Insurance commissioned Environics Research Group to conduct a custom online…
Small electric cars as safe as gasoline-powered counterparts: IIHS
April 28, 2011 by Canadian UnderwriterThe Insurance Institute for Highway Safety (IIHS) crash-tested plug-in electric cars for the first time ever and found the extra weight of the battery packs of the small cars had a positive affect on their safety ratings.The Chevrolet Volt and…
Success of start-up Canadian P&C companies influenced by senior managerial experience: PACICC report
April 27, 2011 by Canadian UnderwriterWhen it comes to the success of new entrants into the Canadian property and casualty insurance market, managerial experience matters, according to a new report by the Property and Casualty Insurance Compensation Corporation (PACICC).The report, Determinants of survivability of new…
Increases confined to loss-affected exposures: Marsh
April 27, 2011 by Canadian UnderwriterGlobal insurance rate increases were confined to loss-affected exposures, despite record level 2011 Q1 catastrophe losses, according to Marsh. Market conditions in the quarter changed little in regions and for classes of business not affected by recent losses, since overall…
Jewelry requires additional coverage to protect against accidental loss
April 27, 2011 by Canadian UnderwriterMany homeowners remain unaware that their most cherished piece of jewelry might not be covered under a standard homeowner or rental insurance policy. “For most consumers, a standard homeowner or rental insurance policy includes coverage for loss to personal property,”…
New president at the helm of Aon Risk Solutions
April 27, 2011 by Canadian UnderwriterChristine Lithgow has been appointed president of Aon Risk Solutions in Canada. She will be replacing retiring outgoing president Chris Fawcus. Lithgow began her career at Aon predecessor Reed Stenhouse in the United Kingdom before moving to Canada in 1981.In…
PACICC makes it a priority in 2013 to analyze role of actuaries in loss reserving best practices, supervisory practices
April 27, 2011 by Canadian UnderwriterThe Property and Casualty Insurance Compensation Corporation (PACICC) – which protects Canadian policyholders from a loss in the event of an insurance company insolvency – plans to examine best practices in loss reserving in 2013.The analysis would include how actuarial…
Ontario auto reforms have yet to meet expectation of a simplified claims process for insurers: CEO
April 26, 2011 by Canadian UnderwriterOntario’s auto reforms have followed insurers’ expectations in many respects, but that doesn’t appear to include a simplified, less expensive process for insurers.Speaking at the Insurance Bureau of Canada (IBC)’s Financial Affairs Symposium on Apr. 21, Aviva Canada president and…
XN Financial names Keith Doan as VP of business development
April 26, 2011 by Canadian UnderwriterXN Financial has named Keith Doan as vice president of business development. Based in Toronto, Doan will report to XN Financial executive vice president Paul Coleman.Headquartered in Montreal, XN Financial is a provider of insurance and financial products designed specifically…
IBC 2011 priorities include responding to increased regulation, sustaining momentum of auto reforms
April 26, 2011 by Canadian UnderwriterCanada’s private insurance companies are calling for reduced regulatory red tape, while at the same preparing to respond to a reality of increased regulation.Responding to increased regulation is among the Insurance Bureau of Canada (IBC)’s five strategic priorities in 2011.…
A.M. Best affirms ‘A’ rating of SCOR SE and Canadian subsidiary
April 26, 2011 by Canadian UnderwriterA.M. Best Co. has affirmed the financial strength rating of A (Excellent) and issuer credit ratings of “a” of the life and non-life North American operating subsidiaries of SCOR SE (SCOR) (France). The FSR of A (Excellent) and ICRs of…