Topic
Insurance
Climate Change Risk to Municipal InfrastructureCity of London, Ont.
September 28, 2010 Institute for Catastrophic Loss Reduction (ICLR)he main objective of the lecture is to present the climate change risk to municipal infrastructure in the City of London. An original methodology has been developed for the assessment of the climate change risk to municipal infrastructure. Previous climate…
To acknowledge risk is to liberate oneself from it: Salman Rushdie
September 27, 2010 by Canadian UnderwriterThere is no such thing as 100% security, only degrees of insecurity, Salman Rushdie, a controversial and famed author, told delegates attending the 2010 RIMS Canada Conference in Edmonton. “Once a person accepts that fact, they are free,” he said.Rushdie’s…
Ontario brokers increasingly the victims of cheque fraud: regulator
September 27, 2010 by Canadian UnderwriterOntario’s broker regulator says it has received a significant increase in the number of phone calls from brokers who have been recent victims of cheque fraud. “Similar to the instances that occurred in the past, the broker’s accounts payable cheque…
Students passing broker license exams too quick to act as brokers: RIBO
September 27, 2010 by Canadian UnderwriterPeople who recently passed their exams to obtain their broker licences may have been too quick off the mark to start practising as brokers, Ontario’s broker regulator says.“It has come to our attention that individuals who have recently passed their…
Tina Gardiner receives the 2010 Donald M. Stuart Award
September 27, 2010 by Canadian UnderwriterThe Risk and Insurance Management Society, Ontario Chapter (ORIMS) has presented the Donald M. Stuart Award to Tina Gardiner, manager of insurance and risk at the Regional Municipality of York.Presented annually since 1979, the Donald M. Stuart Award acknowledges Canadians…
Global natural catastrophes cause $18 billion in insured damage in 2010
September 27, 2010 by Canadian UnderwriterMunich Re recorded a total of 725 weather-related natural hazard events between January and September 2010, causing insured losses worth $18 billion.This is “the second-highest figure recorded for the first nine months of the year since 1980,” Munich Re observed…
Compu-Quote to launch quoting module for individually rated commercial autos
September 24, 2010 by Canadian UnderwriterCompu-Quote announced the launch of a quoting module for individually rated commercial automobile (IRCA).As of October, the service will be available via Compu-Quote’s AutoRater to brokers with rates for Aviva Canada, AXA Insurance, Intact Insurance and The Economical Insurance Group.The…
Chesterfield re-defines terror cover to include businesses, institutions
September 24, 2010 by Canadian UnderwriterChesterfield Canada launched its sabotage and terrorism product to the Canadian market.The product expands the scope of the terrorism peril, which is traditionally defined as an act of a foreign government or organization. Under Chesterfield’s product, the peril would also…
Umbrella policy to provide ‘drop down’ coverage when absent in the primary policy
September 24, 2010 by Canadian UnderwriterOntario’s Court of Appeal has ruled an ‘outside directorship liability’ (ODL) insurer had a duty to defend two lawyers and pay all related costs, despite the fact that the primary D&O policy also provided for a duty to pay for…
RIMS launches new department to help organizations tie together risk management practices and strategic goals
September 24, 2010 by Canadian UnderwriterThe Risk and Insurance Management Society Inc. (RIMS) has created a new department to help RIMS member companies tie their risk management programs to strategic goals. Carol Fox will be director of the new Strategic and Enterprise Risk Practice. She…
ICBC reduces optional auto insurance premiums by 3%
September 24, 2010 by Canadian UnderwriterICBC has announced an average reduction of 3% in optional insurance premiums, effective Nov. 1, 2010.“In addition to the 2.4% reduction to our basic insurance rates announced last month, we are also reducing our optional premiums by an average of…
Insurers turn their attention to risks associated with Ontario cottage country
September 24, 2010 by Canadian UnderwriterOntario’s cottage country in North-Central Ontario has drawn the attention of the property and casualty insurance industry.The industry is focused on three main risks associated with the cabins by the lake.One is wildfire risk. The Institute for Catastrophic Loss Reduction…