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Nova Scotia launches broad review of province’s auto insurance system

December 3, 2010 by Canadian Underwriter

Fresh on the heels of tripling its minor injury cap from $2,500 to $7,500, the Government of Nova Scotia has launched an independent review of the province’s automobile insurance system.The government said the mandate of the review is to “ensure

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Alberta extends $1-million liability cap on rental companies to vehicle sellers, financers

December 3, 2010 by Canadian Underwriter

Alberta’s Superintendent of Insurance announced a series of legislative changes extending the liability cap of $1 million that exists for rental and leasing companies to people selling or financing vehicles through formal arrangements. The legislative changes come into force on

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Bumper misalignments increasing claims severity: IIHS study

December 3, 2010 by Canadian Underwriter

SUV bumpers that don’t line up with those on cars can increase the severity of a claim in what should be a minor collision in stop-and-go traffic, reports the Insurance Institute for Highway Safety (IIHS).Car bumpers line up reasonably well

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Solvency II windstorm loss estimates in line with those of vendor models: Guy Carpenter

December 2, 2010 by Canadian Underwriter

Windstorm scenarios outlined in the most recent Solvency II quantitative impact study (QIS5) are roughly in line with loss estimates produced by the major vendor models, Guy Carpenter reports.In Solvency II Update: QIS5 Windstorm Scenarios are Within Range of Industry

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Bob Shine appointed chief underwriting officer of XL’s North American property and casualty operations

December 2, 2010 by Canadian Underwriter

XL Insurance has promoted Bob Shine to chief underwriting officer of North America Property & Casualty. Shine most recently served as the chief casualty underwriting officer. His responsibilities have expanded to include underwriting oversight across all of XL Insurance’s property

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Updating old buildings, public infrastructure key to earthquake preparedness: ICLR report

December 2, 2010 by Canadian Underwriter

Updating and retrofitting old buildings – including schools, hospitals and other public buildings – and investing in the upgrade of aging public infrastructure are among several priorities listed in preparation for an earthquake in Canada, according to a new study

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XL launches cyber-liability insurance in Canadian market

December 2, 2010 by Canadian Underwriter

XL Insurance Company’s Canadian branch launched two new products offering cyber-liability protection for Canadian businesses.XL Eclipse offers the following coverages under one policy form: network security liability; media content services liability; privacy liability; extortion threat; crisis management; business interruption; credit

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Waterloo Region Record awards The Economical for community stewardship

December 2, 2010 by Canadian Underwriter

The Economical Insurance Group (TEIG) has been named Gold Winner of the 2010 Waterloo Region Record Readers’ Select Award in the category of best insurance company.The annual awards event recognizes Waterloo Region businesses that consistently provide excellence in client service

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Aviva announces Community Fund semi-finalists

December 2, 2010 by Canadian Underwriter

Ninety-two semi-finalists from across Canada are still in the running to receive money from the insurer’s $1-million Aviva Community Fund.Created by Aviva Canada, the fund is offering $1 million in donations to support community initiatives across the country. Canadians have

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A ‘disconnect’ between perceived, modeled and actual catastrophe damages

December 1, 2010 by Canadian Underwriter

There is a disconnect between insurance industry’s perceptions of potential catastrophe damages, modeled predictions of potential cat losses and actual catastrophe losses, according to David Lightfoot, managing director at Guy Carpenter & Company.Lightfoot was speaking at an event marking the

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Winnipeg auto theft prevention strategy gets international kudos

December 1, 2010 by Canadian Underwriter

The Winnipeg Auto Theft Suppression Strategy (WATSS) has received two awards from the International Association of Chiefs of Police (IACP).The first award, The Webber Safety Award for Quality in Law Enforcement, is presented in recognition of efforts promoting a standard

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ICBC shows support to road check program

December 1, 2010 by Canadian Underwriter

Insurance Corporation of British Columbia (ICBC), the B.C. provincial government and police are launching CounterAttack road checks across the province during the month of December to raise awareness and reduce impaired driving crashes. ICBC supports CounterAttack through enhanced police enforcement