11 new industry event galleries have been added to the Online Photo Gallery at canadianunderwriter.ca and are featured in the July 2010 issue of Canadian Underwriter magazine. The recent additions to the Online Photo Gallery are: – IIC…
Total gross written premium of out-of-Canada business written by branches in Canada amounted to almost $70 million in 2010 Q1 (annualized roughly to $280 million), according to the MSA/Baron Outlook Report Q1-2010.This is the first financial quarter in which the…
Excess capacity in the commercial lines insurance marketplace continued to keep premiums under pressure during 2010 Q2, according to the RIMS Benchmark Survey.In the survey, administered by Advisen Ltd., risk managers reported decreases in average renewal premium of between 2.5%…
Keal Technology has launched software to support brokers through the implementation of the Ontario auto insurance reforms, which take effect Sept. 1, 2010.To comply with Financial Services Commission of Ontario (FSCO)’s reform standards, a special release of Keal’s Broker Management…
The debate about whether or not commercial brokers should accept contingent commissions has heated up again, with brokerages drawing a line in the sand when it comes to whether or not they will use the remuneration approach.The New York Attorney…
Weather Services International (WSI) has downgraded its 2010 hurricane forecast slightly to account for a slow start to the early season in June and July, but nevertheless predicts an “extremely active” season in August through to October.In total, WSI is…
The U.S. government investigation of Goldman Sachs and the Deepwater Horizon oil spill may have sparked a surge in securities litigation in 2010 Q2, Advisen reports.In its quarterly report, Advisen noted the number of securities lawsuits filed in 2010 Q2…
CARSTAR Automotive Canada has announced a series of appointments to its corporate management team.Lisa Mercanti-Ladd has been promoted from senior director to the assistant vice-president of marketing and client services. Throughout her tenure at CARSTAR, she has led marketing and…
Bank-owned insurers have effectively doubled their market share in personal lines between 2000 and 2009, according to the MSA/Baron Outlook Report Q1-2010.Meanwhile, the broker channel has seen its market share in personal lines sink over the past decade from 66.6%…
The Ontario Bar Association (OBA) has elected insurance law specialists as its new president and second vice-president, effective August 15.Lee Akazaki, the OBA’s incoming president, is a lawyer at Gilbertson, Davis, Emerson in Toronto. He specializes in personal injury, property…
AIR Worldwide Inc. has released an updated U.S. hurricane model that now captures the possibility of a storm’s re-intensification after landfall.“As evidenced by Hurricane Ike in 2008, inland hurricane losses from some storms can be significant,” an AIR release says.…
The Canadian Securities Administrators (CSA) has published for comment a proposed plan to introduce securities regulatory oversight of credit rating organizations.“Many investors consider credit ratings as one of the factors in making investment decisions, and ratings continue to be referred…