Topic
Insurance
Optimum General to Develop Modern Connected Broker Portal
May 26, 2010 Iter8iter8 technology to be used for core functionality and connectivity May 2010, Toronto: iter8 Inc., an insurance solutions software developer, is pleased to announce that Optimum General (Optimum) has chosen to work with iter8 in the development of a modern,…
City of Toronto could not have foreseen bizarre archery injury: Ontario judge
May 25, 2010 by Canadian UnderwriterThe Ontario Superior Court of Justice has found that the City of Toronto was not negligent in its operation of a public archery range, at which one friend catastrophically injured another in a bizarre plan to retrieve arrows.The two friends…
Oil spill likely won’t affect ratings, capital positions: S&P’s
May 25, 2010 by Canadian UnderwriterLosses resulting from the Gulf oil spill will likely be contained within 2010 Q2 results and not affect ratings, suggests Standard & Poor’s (S&P’s).In its report, Despite Significant Environmental Damage, The Gulf Oil Spill Losses to Re/Insurers are Expected to…
AIG’s former reinsurer, Transatlantic Re, seeks arbitration related to AIG’s subprime securities lending
May 25, 2010 by Canadian UnderwriterAmerican International Group (AIG)’s former reinsurer, Transatlantic Holdings Inc., has filed a demand for arbitration seeking $350 million related to AIG’s subprime mortgage securities lending prior to 2008 Q4.“Transatlantic Holdings Inc. and its subsidiaries, Transatlantic Reinsurance Company and Trans Re…
Four-alarm fire causes more than $600,000 damage in Toronto
May 25, 2010 by Canadian UnderwriterA four-alarm fire in Toronto’s west end has caused more than $600,000, reports the Toronto Star.It is not yet known how much of the damage is insured.The fire occurred on the evening of May 24, severely damaging 791-797 Queen Street…
Hurricane activity expected to be “above-normal” in 2010: TSR
May 25, 2010 by Canadian UnderwriterHurricane activity in the Atlantic basin is anticipated to be 55% above the long-term (1950-2009) norm, according to storm modeler Tropical Storm Risk (TSR). This above-normal level is expected to be even higher if La Niña develops during the second…
Credit scoring will heat up competition: U.S. analytics expert
May 21, 2010 by Canadian UnderwriterPredictive modelling, including credit scoring, played a major role in heating up the competition in the United States auto insurance market, according to a U.S. researcher of insurance analytics.David Cummings, vice president of research at ISO Innovative Analytics, a unit…
OPP lay charges in alleged staged collision
May 21, 2010 by Canadian UnderwriterOntario Provincial Police have laid fraud charges against 11 people for allegedly staging a collision on Highway 400 north of Toronto in June 2009, the National Post reports.According to the paper, nine occupants of a car and minivan, as well…
In a post-HST world, look for insurers to cut down on their outsourcing: CIFF panel
May 21, 2010 by Canadian UnderwriterLook for insurers to start saving money on contract costs by bringing more of their work in-house, thus cutting down additional expenses related to the new Harmonized Sales Tax (HST).The HST applies to a broader range of services, and more…
CSIO recognizes Brovada Technologies with achievement award
May 21, 2010 by Canadian UnderwriterThe Centre for Study of Insurance Operations (CSIO) honoured Brovada Technologies Inc. with the 3rd Annual CSIO Achievement Award.The award recognizes Brovada’s efforts in implementing real-time policy and billing inquiry with Pembridge Insurance Company. “Of all the awards we’ve received…
Immediate response will mitigate further damage and costs: Steamatic
May 21, 2010 by Canadian UnderwriterThe best way to mitigate water damage losses – and keep costs in check -is through immediate response, Dave Bonnar, director of franchising and insurance development of Steamatic, said. “The faster we can get in, the faster we can start…
Noteworthy Speakers Highlight Certified Restoration Drycleaning Network Convention
May 21, 2010 Certified Restoration Drycleaning NetworkCRDN Focuses on Speed of Change BERKLEY, MI, May 21, 2010 Insurance industry executives and a special guest were highlights of CRDNs international convention, attended by more than 330 CRDN Partners and guests from across Canada, the United States and…