Topic
Insurance
Group disability benefits can be deducted from income replacement benefits: FSCO
March 12, 2010 by Canadian UnderwriterAn Ontario arbitration decision has once again raised a question about the deductibility of collateral benefits. This time a decision determined that long-term benefits received from a group disability insurance plan underwritten by Sun Life can be deducted from income…
BC regulator implements OSFI’s new stress testing guideline
March 12, 2010 by Canadian UnderwriterBritish Columbia’s regulator has adopted the Office of the Superintendent of Financial Institution (OSFI)’s guidelines for stress testing and dynamic capital adequacy tests (DCAT) for insurance companies.OSFI released Guideline E-18 in December 2009. The guideline outlines five areas that should…
Hannover Re reports increased profits in 2009
March 12, 2010 by Canadian UnderwriterHannover Re’s non-life reinsurance segment’s profit increased to EUR 472.6 million (Cdn$661.8) for 2009, compared to a loss of EUR 160.9 million (-Cdn$225.3) in 2008. In the wake of the heavy loss expenditures incurred in the previous year, stable prices…
United Way recognizes The Economical for going “above and beyond”
March 12, 2010 by Canadian UnderwriterThe United Way has named The Economical Insurance Group (TEIG) as a recipient of its Community Spirit Award.TEIG’s 2009 United Way campaign was one of its most successful campaigns to date — it raised just over $283,000 — including an…
Toronto-based brokerage insured two historic gold medal winners
March 12, 2010 by Canadian UnderwriterJones Brown Insurance Brokers and Consultants made history during the 2010 Olympic Games when it insured two Canadian gold medal winners.Alexandre Bilodeau won gold in the men’s moguls competition, becoming the first Canadian to win a gold Olympic medal on…
OVER 14,000 LBS OF CLOTHES & ACCESSORIES DONATED TO DRESS YOUR BEST FROM LOCAL INSURANCE INDUSTRY CLOTHING DRIVE
March 12, 2010 Canadian Underwriter magazineLocal insurance industry fashionistas purged their closets and together donated over 14,000 lbs (roughly 12,000 items) of gently used mens and womens business clothing and accessories. This is the 3rd industry clothing drive to benefit Dress Your Best and Dress…
Survey Reveals 84% of Canadian Brokers Believe the Industry Needs Fresh Leadership Thinking
March 12, 2010 Keal Technology67% of Brokers State that Changes in Distribution has Impacted their Business Results TORONTO, Ontario, Canada February 22, 2010 Keal Technology, software provider for Canadian brokers, announces the results of a broker survey geared at identifying the pulse of the…
Less than half of drivers prepared to handle accident aftermath: Carstar
March 11, 2010 by Canadian UnderwriterOnly 45% of Canadian drivers feel they are very prepared to immediately take the proper steps required after a car accident, a Carstar survey found. Just 33% of drivers are very likely to remember to gather all pertinent information at…
U.S. p&c industry regained ground, but not fully recovered in 2009
March 11, 2010 by Canadian UnderwriterThe U.S. property and casualty industry’s net income nearly tripled in 2009 to $35 billion, reports Highline Data Performance Monitor.The Performance Monitor aggregates financial data reported by individual insurance companies each quarter.Highline attributes the steep rise in net income to…
What’s New: In Brief (March 11, 2010)
March 11, 2010 by Canadian UnderwriterA 48-year-old Sault Ste Marie resident has been charged with five courts of fraud and five counts of theft after allegedly misappropriating client’s funds as an insurance agent. As of press time the allegations have not been proven in a…
Quebec broker association launches television marketing campaign
March 11, 2010 by Canadian UnderwriterThe Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ) has launched its most aggressive media campaign promoting the independent broker channel in that province.The association has invested $750,000 to create and air four 30-second television ads on the networks…
What’s New: In Brief (March 10, 2010)
March 10, 2010 by Canadian UnderwriterSwiss Re estimates total insured losses for the insurance sector arising from the earthquake in Chile will be between $4 billion and $7 billion.The reinsurer anticipates its loss arising from the quake will be $500 million before tax. The magnitude…