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What’s New: In Brief (January 24, 2008)

January 24, 2008 by Canadian Underwriter

Faced with a high volume of policy requests and underwriting information, AXA Canada is turning towards an XML-based platform to automate its data systems, according to a report by ITWorldCanada.com.The insurer has made the change as Canada’s insurance industry standards

News Insurance

Global standard for insurance contracts required: Fitch

January 23, 2008 by Canadian Underwriter

Establishing a global fair value method for valuing insurance contracts will help to determine how fair value should be defined for insurance reserves, according to a special report by Fitch Ratings on global accounting and financial reporting. Fitch notes the

News Insurance

CCIR consults on the incidental selling of insurance

January 23, 2008 by Canadian Underwriter

The Canadian Council of Insurance Regulators (CCIR) is consulting the insurance industry on the incidental selling of insurance (ISI).“As a result of potential licensing and consumer issues stemming from the sale of insurance incidental to some other core business activity,

News InsuranceMergers and Aqcuisitions

Extreme sports on the rise

January 23, 2008 by Canadian Underwriter

The extreme sports market is evolving, with an increasing number of people participating in extreme sports and an expanding number of sports being added to the category, according Lloyd’s. “The demand for our products has been growing a clear indication

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (January 23, 2008)

January 23, 2008 by Canadian Underwriter

Keal Technology and ING Insurance Company of Canada announced a “commercial integration relationship,” in which Keal’s commercial management system (CMS), comXP, will exchange data with the ING Insurance broker application SaversCL.Using CSIO XML standards, data can be exchanged between broker

News Climate ChangeInsuranceMergers and Aqcuisitions

IBC calls on governments to review critical infrastructure

January 22, 2008 by Canadian Underwriter

Insurance Bureau of Canada (IBC) is calling on Canadian governments to review critical infrastructure to ensure the country is better able to deal with severe weather events in the future.IBC president and CEO Mark Yakabuski has called on all governments

News Insurance

U.S. isolationism top risk to markets in 2008: Lloyd’s

January 22, 2008 by Canadian Underwriter

A United States retreat into political isolationism, tensions in the Middle East and the growing threat of another terrorist attack are the major risks threatening the global financial market in 2008, according to the results of a study posted on

News Insurance

What’s New: In Brief (January 22, 2008)

January 22, 2008 by Canadian Underwriter

Kingsway Financial Services Inc. has appointed Shelly Gobin as vice president and CFO.Gobin has been with Kingsway for more than 10 years; during that time, she has held increasingly progressive executive roles at Kingsway. In addition, she has been significantly

News Insurance

BC launches driver’s licences to serve as passport alternative

January 22, 2008 by Canadian Underwriter

British Columbia is launching the initial phase of its enhanced driver’s licences (EDLs), a proposed alternative to the passport that will be required to enter the United States at its land and water borders no earlier than June 2009.The EDL

News InsuranceMergers and Aqcuisitions

Ontario Court of Appeal clears the air in grow-op case

January 21, 2008 by Canadian Underwriter

In a short, four-paragraph endorsement, the Ontario Court of Appeal recently dismissed an appeal in a seemingly run-of-the-mill fire insurance claim. Or was it a run-of-the-mill claim?The full text of the Ontario Superior Court’s original decision in Silva v. CGU

News Insurance

Estimated $50 million in damage in January storm

January 21, 2008 by Canadian Underwriter

A storm that hit Ontario at the beginning of January is estimated to have resulted in roughly Cdn$50 million in insured damage, according to the Insurance Bureau of Canada (IBC). The majority of the damage is due to sewer backup,

News Insurance

What’s New: In Brief (January 21, 2008)

January 21, 2008 by Canadian Underwriter

Dale Chow has been appointed as vice president, Vancouver branch manager for Chubb Insurance Company of Canada.Chow and his team are responsible for all field operations servicing British Columbia.Chow has re-joined Chubb from the Bermuda offices of Allied World Assurance