Insurance Bureau of Canada (IBC) has rebranded itself.The new logo prominently features a dark red maple leaf and identifies IBC as a national trade organization and as “Canada’s trusted voice in insurance,” a release says.Within the maple leaf are three…
The implementation of Solvency II could result in a minimum capital requirement increase of 62% for United Kingdom insurers, according to EMB, a UK-based actuarial consulting firm.EMB studied 49 companies, covering a broad range of non-life insurance sectors —including personal…
An insurance company has been found liable to pay a policyholder injured in an auto collision under the uninsured provisions of the policy, even though the policyholder failed to sue potentially negligent and/or liable insured third parties. The Supreme Court…
British Columbia plans to reduce the risk of auto theft during the Olympic Games by ‘flooding’ venue and public transit parking lots with bait cars.The initiative is part of the Integrated Municipal Provincial Auto Crime Team (IMPACT)’s strategy during the…
Bans on hand-held devices while driving fail to reduce crashes, a new Highway Loss Data Institute (HLDI) study found.The HLDI is an affiliate of the Insurance Institute for Highway Safety (IIHS). It calculated monthly collision claims per 100 insured vehicle…
The Chubb Corporation has reported a 2009 Q4 net income of $695 million, compared to $407 million in the same quarter of 2008. Net income for 2009 was $2.2 billion, compared to $1.8 billion in 2008. Net written premiums for…
Toyota Motor Corp.’s announcement that it was halting the sale and manufacturing of eight of its popular models in Canada, the U.S., Europe and Asia poses a major reputation crisis that could make or break the brand, experts suggest.On Jan.…
The participation of alternative sources of capital in the reinsurance market has rebounded since the economic crisis, but not to pre-crisis levels, reports Standard & Poor’s.In its report, Global Reinsurers Enter 2010 on Stronger Financial Footing but Face Weaker Pricing,…
Insurer security remains a top priority for corporate buyers a year and a half after the peak of the financial crisis, Lloyd’s of London reports. The crisis has left a lasting impression on buying behaviour, despite the fact that insurance…
The Ontario Teachers’ Insurance Plan (OTIP) is working with Waterloo Regional Police to recover three stolen laptop computers, one of which may have contained personal information of OTIP’s insured teacher members.The burglary happened on Dec. 3, 2009. Waterloo Regional Police…
Political and financial instability remain a feature of the business landscape as a result of the recession, Aon Risk Services reports. The company believes elevated political risk levels will continue before an overall tendency for improving global business conditions becomes…
The Ontario chapter of the Women in Insurance Cancer Crusade (WICC) has launched the 2010 edition of its WICC C4C [Change for Change] Ontario Insurance Industry Challenge.For 12 months, participants will be challenged to raise as much money as possible…