Topic
Insurance
Deepwater Horizon could have long-term impact on D&O market of up to $500 million
June 21, 2010 by Canadian UnderwriterThe Deepwater Horizon disaster could have a long-term impact on directors and officers’ lines in the range of $250 million to $500 million, suggests EWI Risk Services. In addition, in the immediate future, carve-out exclusions and coverage grants currently afforded…
Summary judgement motion not considered a “mini-trial”: Ontario Superior Court
June 21, 2010 by Canadian UnderwriterA motion for summary judgement to dismiss a liability case does not constitute a “mini-trial” and split a case so that it becomes a trial within a trial, the Ontario Superior Court ruled under the new Rules for Civil Procedure.In…
McLarens Canada Announces G20 Summit Plan
June 21, 2010 McLarens CanadaTORONTO, ON; June 21, 2010 – McLarens Canada, a leader in the claims adjusting industry, announced today their plans to provide client’s with full coverage during the upcoming G20 Summit in Toronto. “We would like to ensure our clients…
Banks shifting terrain, now promoting insurance on mobile devices: IBAC
June 18, 2010 by Canadian UnderwriterHaving secured Finance Minister Jim Flaherty’s commitment to prevent banks from selling unauthorized insurance on their Web sites, the Insurance Brokers Association of Canada (IBAC) is concerned that banks have already responded by trying to promote insurance on consumer’s cell…
B.C. brokers working with ICBC to transform the public insurer’s rating system
June 18, 2010 by Canadian UnderwriterThe Insurance Brokers Association of B.C. (IBABC) is collaborating with the province’s public insurer, the Insurance Corporation of British Columbia (ICBC), to introduce ‘Vision 2014,’ a plan to upgrade the public insurer’s technology and change its rating system from a…
IBAC gears up for 2012 Bank Act review, calls on brokers to get politically active
June 18, 2010 by Canadian UnderwriterThe Insurance Brokers Association of Canada (IBAC) is gearing up for the 2012 Bank Act review, urging brokers to get politically involved in advance of the federal government’s mandatory five-year review of the legislation.“We have to be ready to represent…
Saskatchewan brokers concerned about SGI’s proposed 35% reduction in commissions
June 18, 2010 by Canadian UnderwriterThe Insurance Broker Association of Saskatchewan (IBAS) is concerned about SGI’s proposed 35% reduction in broker commissions for online vehicle renewals.The public insurer has taken the position that online self-service or payment on any other transaction should result in savings…
A finding of fraud not needed to determine claimant was not involved in an accident: FSCO
June 18, 2010 by Canadian UnderwriterA claimant does not have to be found to have engaged in fraud in order for a Financial Services Commission (FSCO) arbitrator to determine that the claimant lied about being in an automobile accident.In Azimi v Economical Mutual Insurance Company,…
Canadian (re)insurance market holds much more stability than U.S. neighbours
June 17, 2010 by Canadian UnderwriterThe Canadian reinsurance and insurance markets are far more stable than their U.S. counterparts, said Hans Rohlf, managing director North America and chief underwriting officer at Hannover Re.Rohlf was speaking during a presentation, Hannover Re Views of the Canadian Market,…
Facebook advertising the way of the future, IBABC conference told
June 17, 2010 by Canadian UnderwriterSocial networking will get “a lot more social” over the next three to five years, and the insurance industry should be exploiting media such as Facebook now, before losing an opportunity to become unique trend-setters in this area, according to…
Looming worker shortage means perpetuation hinges on Generation Y
June 17, 2010 by Canadian UnderwriterGiven predictions of a worker shortage in Canada by 2015, and keeping in mind that Generation Y employees work an average of only four years for one company before moving on, it is especially important for the insurance industry to…
Willis Re opens an office in Toronto
June 17, 2010 by Canadian UnderwriterWillis Re is opening an office in Toronto on Sept. 1 to complement Willis Group’s current presence in the city. “Adding an office in Toronto will enable us to build on our success in Canada and offer an enhanced level…