Topic
Insurance
Canadian Claims Services is pleased to announce the acquisition of Triad Claims Services
April 26, 2010 Canadian Claims Services Inc.David Riddell, President of Canadian Claims Services Inc., is pleased to announce theacquisition of Triad Claims Service effective May 1, 2010. CCS is very excited about the addition of Triad, as it gives us a significant presence in the Calgary…
Ontario Appeal Court overturns decision that would have widened scope for taping defence medical examinations
April 23, 2010 by Canadian UnderwriterIn a 3-2 decision, the Ontario Court of Appeal has reversed a lower court ruling that would have allowed taping of defence medical examinations in most (if not all) cases where a request is made, based on an alleged “systemic…
RIBO warns of alleged auto insurance scam
April 23, 2010 by Canadian UnderwriterThe Registered Insurance Brokers of Ontario (RIBO) is warning of an alleged automobile insurance scam.A newspaper ad advertising auto insurance with a 1-800 contact number has been placed in several Ontario city newspapers, a RIBO release says. Typically, the perpetrators…
RSA and MarshBerry team up to support broker partners
April 23, 2010 by Canadian UnderwriterRSA has teamed with MarshBerry, a consulting firm, to offer RSA’s key brokers tools to grow their businesses. MarshBerry, a U.S. broker consulting firm, offers expertise in management, peer-to-peer exchange network, informational services, sales effectiveness and merger and acquisition advisory…
IBAO raises sponsorship for the Canadian Crime Victim Foundation
April 23, 2010 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) is reaching out to local organizations on behalf of the Canadian Crime Victim Foundation (CCVF) to raise sponsorship for the CCVF’s 8th Annual Gala and Fundraiser. The CCVF is a charitable organization dedicated…
ILS market sees gains on average returns during 2010 Q1
April 23, 2010 by Canadian UnderwriterReturns on insurance-linked securities (ILS) averaged 3.4% for 2010 Q1, marking an improvement over the 0.95% returns reported in 2009 Q1, said Aon Benfield.In its report, Insurance-Linked Securities: First Quarter Update 2010, Aon noted that for the 12 months ended…
Large, parent-controlled companies poised to capitalize on OSFI’s proposed new rules allowing internal capital model targets
April 22, 2010 by Canadian UnderwriterThe size of an insurer and whether or not the Canadian office has a parent company will likely be key drivers in whether or not Canadian property and casualty insurers take advantage of the solvency regulator’s move to allow internal…
Canadian P&C industry over-relying on use of one vendor-provided catastrophe model: KPMG study
April 22, 2010 by Canadian UnderwriterThere is a potential systemic risk in the use of catastrophe models in Canada because of the property and casualty industry’s “extensive reliance on vendor-provided catastrophe models, particularly with extensive reliance on one vendor in Canada,” KPMG says in research…
Canada will not be adopting Solvency II’s European capital test: OSFI
April 22, 2010 by Canadian UnderwriterCanada will not be adopting the Solvency II European capital test, Bernard Dupont, the managing director of the Office of the Superintendent of Financial Institutions (OSFI)’s capital division, told the 2010 IBC Financial Affairs Symposium in Toronto.Dupont said OSFI would…
OSFI shelves mutual recognition of international reinsurance regulation
April 22, 2010 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) has rejected the notion of mutual recognition of international regimes for the purpose of regulating the use of unlicensed reinsurance.Instead, look for OSFI to maintain its collateral regime for unregistered reinsurance.…
Trivedi, Artes appointed to Canadian branch of AXIS Reinsurance
April 22, 2010 by Canadian UnderwriterAXIS Reinsurance Company has announced two appointments to its Canadian branch.Rohit Trivedi will be establishing AXIS Reinsurance’s insurance claims operation in Canada. He joins AXIS from Munich Re Group where he established and led the claims department for Munich Re’s…
Ontario court re-asserts limits on how much plaintiff’s counsel can help client during discovery
April 21, 2010 by Canadian UnderwriterThe Ontario Superior Court recently re-asserted the limits of how much a plaintiff’s counsel can help his or her client during an examination for discovery in an action concerning a motor vehicle accident.In Michael Madonis v. Julian G. Dezotti and…