Topic
Insurance
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…
Cunningham Lindsey establishes global mining practice group
June 17, 2010 by Canadian UnderwriterCunningham Lindsey has established a Global Practice Mining Team, with more than 6,000 employees and based in 65 countries. The adjusters have handled hundreds of major mining losses involving floods, landslides, access route interruptions and plant losses of every description;…
FSCO releases revised forms reflecting auto insurance reforms
June 16, 2010 by Canadian UnderwriterVarious policy and endorsement forms have been revised and updated by the Financial Services Commission of Ontario (FSCO) to reflect the automobile insurance reforms. Additionally, two new forms have been approved to allow policyholders to purchase coverage to offset the…
Paul Hancock appointed national director of GTS at Crawford & Company (Canada) Inc.
June 16, 2010 by Canadian UnderwriterPaul Hancock has joined Crawford & Company (Canada) Inc. as national director of Global Technical Services (GTS) Canada. Hancock has a Chartered Insurance Professional (CIP) designation with more than 25 years of experience in the claims industry. “Paul’s dedication to…
A.M. Best affirms Intact Insurance Group’s ‘A+’ rating
June 16, 2010 by Canadian UnderwriterA.M. Best Co. has affirmed Intact Insurance Group’s financial strength rating of A+ (Superior) and issuer credit ratings (ICR) of “aa-“. The Group includes Belair Insurance Company Inc. (Montreal, Quebec), Intact Insurance Company, Novex Insurance Company, The Nordic Insurance Company…
Auto injuries pending surgery still count against catastrophic impairment rating: FSCO
June 16, 2010 by Canadian UnderwriterAuto injuries pending surgery – and which are therefore not “stable” – still count for the purpose of determining catastrophic impairments, according to a Financial Services Commission of Ontario (FSCO) arbitrator.In Sonia Bains and RBC General Insurance Company, Bains sought…
How M&A insurance can resurrect a dying deal
June 16, 2010 by Canadian UnderwriterWhile many experts are predicting successful mergers and acquisitions (M&A) activity in Canada in 2010, for the deals that fail, there is M&A insurance, an AON background paper observes.‘Whether the transaction involves two Fortune 500 companies or a private equity…
Crawford & Company (Canada) Inc. Appoints Hancock National Director, Global Technical Services
June 15, 2010 Crawford & Company (Canada) Inc.Pat Van Bakel, senior vice president, Claims Operations, Crawford & Company (Canada) Inc., is pleased to announce that Paul Hancock is joining the Crawford team as national director, Global Technical Services (GTS) Canada. Hancock is a Chartered Insurance Professional…
‘Space storms’ could wreak 20-times economic damage as major hurricane
June 15, 2010 by Canadian UnderwriterImpending ‘solar storms’ may disrupt the earth’s magnetic field and wreak twenty times more economic damage than Hurricane Katrina, NASA scientists warn.A solar wind is a stream of charged particles, mostly electrons and protons, spewed from the sun. Should the…
Internal audit departments must evolve to strategic risk advisor role: PwC survey
June 15, 2010 by Canadian UnderwriterInternal audit departments should hold an expanded role as strategic risk advisors to the C-suite, according to a PricewaterhouseCoopers (PwC) report.PwC polled more than 2,000 executives from 55 countries (including 82 Canadian organizations). Survey respondents suggested that internal audit departments…