Topic
Insurance
Full disclosure necessary when payments made to property managers for insurance placement: BC Insurance Council
January 18, 2011 by Canadian UnderwriterThe Insurance Council of British Columbia is reminding insurance agents that any payments made to a property manager of a condo building or other third party must first be disclosed to the strata corporation.A strata corporation is a legal entity…
HCAI to become mandatory on Feb. 1
January 18, 2011 by Canadian UnderwriterThe use of the Health Claims for Auto Insurance (HCAI) system will become mandatory for all health care facilities and providers on Feb. 1, 2011.On that date, every Ontario health care facility (and any associated health care provider) that submits…
Sectors with high environmental risks should be tying executive compensation to mitigating risks
January 18, 2011 by Canadian UnderwriterSectors highly exposed to environmental risks, such as oil sands and gas companies, need to a better job of disclosing to investors how they use executive compensation to stimulate action on mitigating the environmental, social and governance (ESG) risks that…
Celine Dion sings praises for CARSTAR’s social media campaign
January 18, 2011 by Canadian UnderwriterCARSTAR Collision Centre’s social media campaign to raise funds for the Canadian Cystic Fibrosis Foundation has caught the eye of Canadian songstress Celine Dion. For every “like” CARSTAR Collision Centres receives on its Facebook page (www.facebook.com/carstarcanada), the company will donate $1 to…
FSCO approves average auto rate increase of 1.93% in 2010 Q4
January 17, 2011 by Canadian UnderwriterOntario’s financial regulator, the Financial Services Commission of Ontario (FSCO), approved an overall average auto insurance rate increase of 1.93% in 2010 Q4.For the 54.15% of the market that had rate changes approved in 2010 Q4, the average rate change…
Scientists propose “the Other Big One” storm scenario in California
January 17, 2011 by Canadian UnderwriterScientists at the U.S. Geological Survey unveiled a potential one-in-100-year or one-in-200-year storm scenario in California that could result in more than $300 billion in damage, putting it in the same category as the San Andreas earthquakes.Under this scenario, a…
Nova Scotia launches Web page to solicit public opinion on Auto Insurance Review
January 17, 2011 by Canadian UnderwriterThe Government of Nova Scotia has launched a new Web site soliciting input from the public as part of its Auto Insurance Review.“We want to make sure that the voice of auto insurance consumers is heard,” said Graham Steele, minister…
Andy Hall returns to CNA Financial Corporation
January 17, 2011 by Canadian UnderwriterAndy Hall is returning to CNA Financial Corporation as branch vice president of its Seattle office.Hall joined CNA in 1990, and held a number of branch and leadership positions, eventually serving as the president and chief operating officer of CNA…
Insurers’ views vary on costs of Solvency II readiness: PwC report
January 17, 2011 by Canadian UnderwriterInsurers’ views vary considerably about the costs involved in preparing for Solvency II, prompting a PricewaterhouseCoopers (PwC) survey to question whether the total outlay related to Solvency II will exceed initial projections of EUR3 billion.Due to take effect in January…
Risk managers should become more involved in understanding digital risks: Lloyds
January 14, 2011 by Canadian UnderwriterRisk managers need to better understand how digital risks might affect their organizations and what they can do to mitigate them, according to a Lloyd’s 360 Risk Insight report.“Digital risks,” in this context, refers to the effects of natural disasters…
Elliott Special Risks names Glenn Minnis to its new B.C. office
January 14, 2011 by Canadian UnderwriterElliott Special Risks LP (ESR), a Markel International company, has opened an office in Vancouver, B.C. The B.C. office will be home to Elliott’s newest member of the team, Glenn Minnis. ESR operates across Canada with offices in Toronto, Montreal…
Privacy Commissioner reaches impasse with SGI over collection of health information under province’s Insurance Act
January 14, 2011 by Canadian UnderwriterThe Office of the Information and Privacy Commissioner in Saskatchewan says it has reached an impasse with Saskatchewan Government Insurance (SGI) over three ‘breach of privacy’ complaints related to the collection of personal health information under the Automobile Accident Insurance…