Topic
Insurance
Insurers urged to get written conflict-of-interest statements from law firms and treatment/assessment facilities
October 4, 2010 by Canadian UnderwriterInsurers wishing to expose potential insurance fraud should be getting written conflict-of-interest statements from legal, treatment and assessment facilities, a fraud investigator suggests.Donna Ford, an insurance fraud investigator with Northwood & Associates, addressed the topic of insurance fruad at the…
RSA Canada to buy GCAN Insurance Company for $420 million
October 4, 2010 by Canadian UnderwriterRSA Canada has entered into an agreement to purchase GCAN Insurance Company and its parent company, Glenstone Capital Incorporated, from the Ontario Teachers’ Pension Plan Board for approximately $420 million. “This is actually the second-largest insurance company acquisition in the…
Exclusive Telecommunication Disaster Recovery service launched to Public Sector: Emergency Measures legislation compliance made easy!
October 4, 2010 DisasterPhoneWaterloo, ON Jardine Lloyd Thompson Canada the nation’s premier provider of Insurance and Risk Management services to the Canadian Public Sector has entered into an exclusive arrangement with MMI of Waterloo, Ontario, to provide a private labeled, customized version of…
RSA Canada receives 200 claims arising from Hurricane Igor
October 1, 2010 by Canadian UnderwriterRSA Canada has received approximately 200 claims related to Hurricane Igor, which hit eastern Newfoundland on Sept. 21.The hurricane cut off power to as many as 50,000 people across the province. Many of the hardest-hit communities were isolated due to…
Crawford & Company (Canada) Inc. opens a new office in Prince George, B.C.
October 1, 2010 by Canadian UnderwriterCrawford & Company (Canada) Inc. opened an office in Prince George, British Columbia, effective Sept. 1, 2010.“The addition of this office, which covers an important territory in northern British Columbia, will allow us to service our clients even more effectively…
Re/insurers facing a ‘new reality’ of no or low growth: PartnerRe
October 1, 2010 by Canadian UnderwriterRe/insurers in North America and Europe are facing the “new reality” of a low or no-growth environment, according to Patrick Thiele, CEO of PartnerRe Ltd.“This new economic reality in the U.S. and Europe has important implications for the re/insurance industry,”…
Cooperation among insurers is the key to fighting fraud: special investigator
October 1, 2010 by Canadian UnderwriterCooperation between insurers is the key to a successful automobile fraud investigation, according to Rick Muir, senior special investigator with Desjardins General Insurance Group, The Personal and Certas Direct Insurance Companies. Right now, however, many insurers are going at it…
MPI data suggest red-light cameras do not reduce crashes: news report
October 1, 2010 by Canadian UnderwriterThe Winnipeg Sun has obtained collision data from Manitoba Public Insurance (MPI) suggesting red-light cameras have generally failed to reduce the number of collisions in several key intersections in Winnipeg.The Sun‘s editorial notes the average number of collisions at Winnipeg’s…
Lloyd’s describes first half of 2010 as “costliest on record”
September 30, 2010 by Canadian UnderwriterLloyd’s of London, a specialist insurance market, has reported a pre-tax profit of $942 million in the first half of 2010, down from a first-half profit of roughly $2 billion in 2009. Lloyd’s combined ratio (COR) in the first half…
U.S. plaintiff firms bankrolling, supporting Canadian securities class action suits
September 30, 2010 by Canadian UnderwriterAggressive U.S. plaintiff firms are slowly creeping their way into Canadian securities class action suits, warned Jay A.R. Cassidy, a senior vice president at Marsh in Toronto.Cassidy addressed delegates at the 2010 RIMS Canada conference in Edmonton on Sept. 28…
Axa launches iPhone application
September 30, 2010 by Canadian UnderwriterAxa has launched an application, Axa Mobile, designed for use on the iPhone.In the event of an auto accident, the application lets Axa insureds report their claims immediately, record spoken comments and document the event by providing details and photographs,…
Desjardins puts up $20,000 in prize money for contest draw
September 30, 2010 by Canadian UnderwriterDesjardins General Insurance launched a contest in which it will award a grand prize of $10,000 and donate $10,000 to a charity selected by the grand prize-winner.To enter the ‘Win for You-Win for your Cause’ contest, individuals must request an…