Topic
Insurance
BCAA conducting online poll to determine effectiveness of law banning cell phones while driving
January 11, 2011 by Canadian UnderwriterThe British Columbia Automobile Association (BCAA) is conducting an online survey to determine whether or not B.C.’s ban on hand-held cell phone use and texting while driving has actually changed driver habits.B.C.’s ban on cell phone use while driving has…
A.M. Best changes outlook on U.S. commercial lines to ‘Negative’
January 11, 2011 by Canadian UnderwriterA.M. Best has revised its outlook to negative from stable for U.S. commercial lines for 2011. The revision implies that negative rating actions will outnumber positive rating actions in 2011, despite the fact that the vast majority of rating actions…
Change in occupation test not enough to overturn arbitrator’s order to pay IRB benefits
January 11, 2011 by Canadian UnderwriterA change in the occupation test for determining Income Replacement Benefits (IRB) before and after a 104-week period of disability is not necessarily enough of a “change” of circumstances to warrant overturning an arbitrator’s order to pay IRB benefits.Ontario’s insurance…
RIMS unveils new logo and tagline
January 11, 2011 by Canadian UnderwriterThe Risk and Insurance Management Society (RIMS) has a new look. The association unveiled its new logo and tagline, ‘the risk management society.’The logo incorporates three stripes, swooping upwards, representing its key areas of service to its members: resources, networking…
Travelers adds new members to its management team
January 11, 2011 by Canadian UnderwriterTravelers Canada has added Ross Betteridge, Kevin Pinto and Jean-Pierre Gagnon to its management team. Betteridge has been named executive vice president and chief operating officer and will be responsible for strategy, finance, actuarial, information technology and communications and branding.…
Bob Fitzgerald joins ClaimsPro as president of Canadian operations
January 10, 2011 by Canadian UnderwriterBob Fitzgerald has joined ClaimsPro Inc. (a division of SCM Insurance Services) as president of its Canadian operations.Fitzgerald most recently served as executive vice president and chief marketing and underwriting officer at Aviva Canada.He joins the executive of SCM Insurance…
Effects of CO2 in Earth’s atmosphere irreversible for the next 1,000 years: Canadian research
January 10, 2011 by Canadian UnderwriterNew research published in nature geoscience suggests the impact of rising Carbon dioxide levels in the Earth’s atmosphere will cause irreversible effects to the climate for at least the next 1,000 years.Based on their findings, researchers estimate a collapse of…
RSA finalizes GCAN acquisition
January 10, 2011 by Canadian UnderwriterRSA Canada finalized its acquisition of GCAN Insurance, the second-largest insurance transaction of the past decade in Canada.RSA announced in Oct. 2010 that it agreed to acquire GCAN, a Canadian mid-market, large risks and specialty commercial insurer with gross written…
Resources failing to keep pace with demands on risk managers: AIRMIC chair
January 10, 2011 by Canadian UnderwriterDemands on risk managers are increasing but the resources to allow them to meet the demands are not, says the UK’s Association of Insurance and Risk Managers (AIRMIC) chair Nicola Harvey.“All our businesses are going through different degrees of…difficult times,”…
A.M. Best reports stable outlook for global reinsurance industry in 2011
January 10, 2011 by Canadian UnderwriterFor the fifth consecutive year, A.M. Best Co. is maintaining a stable outlook in 2011 for the global non-life reinsurance industry. The current outlook implies the majority of 2011 reinsurer rating actions are likely to be affirmations, with only a…
$150-billion event would turn the global reinsurance market: Guy Carpenter
January 7, 2011 by Canadian UnderwriterIt would take a $150-billion insured loss event to create a decided and sustained hard market in the global reinsurance market, Guy Carpenter reports. A $50-billion insured loss event would stem the decline of property catastrophe reinsurance rates for at…
CSN Collision expands network with Ontario, Alberta shops
January 7, 2011 by Canadian UnderwriterCSN Collision & Glass has expanded its network by two more shops – one in Ontario and one in Alberta. Ravenhorst Motors Ltd.-CSN is located in Brockville, Ontario and has operated for 55 years through three generations. Rick van Ravenhorst…