Topic
Insurance
Scotiabank Group opens its second retail insurance centre
November 26, 2010 by Canadian UnderwriterScotiabank Group has opened a second retail ScotiaLife Financial Insurance Centre, located in downtown Toronto.“With the success of the first ScotiaLife Financial Insurance Centre in Mississauga, the new centre located on the concourse level of the Bay Adelaide Centre in…
Ontario Legislature passes non-binding motion calling on insurers to reduce premiums for drivers with winter tires
November 26, 2010 by Canadian UnderwriterThe Ontario Legislature has passed a non-binding private member’s motion calling on the insurance industry to reduce premiums for those who have winter tires. Bill Mauro, MPP for Thunder Bay-Atikokan, introduced his private member’s motion in the Ontario Legislature in…
New scientific approach uses seismic data to predict increased earthquake risk over shorter periods
November 26, 2010 by Canadian UnderwriterResearchers in Canada are one step closer to being able to predict increased earthquake risk over periods as short as five to 10 years.The new method suggests potential seismic activity over the next five years near Ottawa, Montreal and Quebec…
24 new November Issue Online Photo Gallery updates now live at canadianunderwriter.ca
November 26, 2010 Canadian Underwriter magazine24 new industry event galleries have been added to the Online Photo Gallery at canadianunderwriter.ca and are featured in the November 2010 issue of Canadian Underwriter magazine. The recent additions to the Online Photo Gallery are TRANSATLANTIC REINSURANCE 30 YEAR CELEBRATION:…
The Guarantee Company of North America has its A- (Stable) Rating Reaffirmed by Standard and Poor’s
November 26, 2010 Canadian Underwriter magazineStandard and Poor’s has reaffirmed its rating of The Guarantee Company of North America as A- (Stable). The rating reflects the Company’s strong competitive position and financial performance in its specialty markets and its strong capitalization.
Standard and Poor’s reaffirms ‘A-‘ rating of The Guarantee Company of North America
November 26, 2010 by Canadian UnderwriterStandard and Poor’s has reaffirmed its rating of The Guarantee Company of North America as A- (Stable). Guarantee issued a press release saying, “the rating reflects the company’s strong competitive position and financial performance in its specialty markets and its…
Police charge Toronto man in connection with insurance fraud scheme
November 25, 2010 by Canadian UnderwriterA Toronto man has been charged in connection with an insurance fraud investigation. According to Toronto police, the fraud scheme involved a paralegal who said he was operating under Royal Sun and Alliance Company, using ‘Executive Brokers’ as the name…
Canada Revenue Agency confirms business income from Barbados “exempt insurance companies” can be repatriated to Canada free of Canadian tax
November 25, 2010 by Canadian UnderwriterThe Canada Revenue Agency (CRA) has confirmed that business income earned by a Barbados “exempt insurance company” (EIC) may generally be repatriated to Canada free of Canadian tax, despite the EIC being subject to a very low amount of tax…
Banks take long-term view on lobbying to sell, market insurance
November 25, 2010 by Canadian UnderwriterBanks are predictably lobbying the federal government during the 2012 Bank Act review to lift restrictions preventing them from marketing and selling insurance products in their branches, but a recent Canadian Bankers Association (CBA) submission suggests banks see this more…
Policy Works, L’Union Canadienne combine to deliver commercial data exchange solution
November 25, 2010 by Canadian UnderwriterPolicy Works has entered into an agreement with L’Union Canadienne to deliver a commercial lines data exchange solution. This will integrate Policy Works’ Commercial Management System (CMS) and L’Union Canadienne’s underwriting system. It offers pure no-touch processing, which enables brokers…
RSA Canada invests in Real-Time Inquiry
November 25, 2010 by Canadian UnderwriterRSA Canada has invested in Real-Time Inquiry, which allows brokers to access client information. Applied Systems TAM brokers will be able to access their client’s billing, claims and policy information quickly and easily, without ever leaving their broker management system.Brokers…
Decadal hurricane models are on the horizon: Lloyd’s
November 24, 2010 by Canadian UnderwriterClimate models may be capable of predicting the frequency of North Atlantic hurricanes as far as 10 years ahead, well beyond the current seasonal timescale, Lloyd’s reported.Lloyd’s awarded its inaugural Science of Risk Prize to Doug Smith of the U.K.’s…