Topic
Insurance
Study finds homeowners perceive low risk of sewer backups
December 5, 2007 by Canadian UnderwriterInsurers need to work to improve homeowners’ risk perception of sewer backups in order to increase their mitigative efforts, says new research from the Institute for Catastrophic Loss Reduction (ICLR).The ICLR surveyed 805 homeowners in Edmonton and Toronto with the…
HKMB International Insurance Brokers joins HUB International
December 5, 2007 by Canadian UnderwriterHUB International Ltd. and HKMB International Insurance Brokers have entered into a definitive agreement in which HKMB will join with HUB International. HKMB will become a new regional platform and carry on business as HKMB Hub International from its offices…
Little time for actuarial analysis within insurance companies, roundtable finds
December 4, 2007 by Canadian UnderwriterProcess inefficiencies, increasing business complexity, regulatory demands and data volume are leaving little time for crucial actuarial analysis within insurance companies, driving a growing trend towards automation, according to the fourth Actuarial Transformation Roundtable organized by Ernst & Young LLP.…
Climate change will triple number of people exposed to flooding by 2070
December 4, 2007 by Canadian UnderwriterAs a result of climate change and urban development, as many as 150 million people in the world’s major cities could be reliant on flood defenses by 2070 more than three times the 40 million people who face such exposure…
RIMS pledges US$30,000 to William H. McGannon Foundation
December 4, 2007 by Canadian UnderwriterThe Risk and Insurance Management Society (RIMS) has pledged US$30,000 to the William H. McGannon Foundation. The Canadian foundation is dedicated to providing financial resources and career development opportunities to risk management students and practitioners. The funds provided by RIMS…
Poor risk management leads to overreactions in face of crisis
December 4, 2007 by Canadian UnderwriterThe recent subprime mortgage crisis exposed narrowly focussed risk management programs in financial institutions around the world, which could lead to overreactions when unforeseen or damaging events arise, a TowerGroup report notes.In “Multifunctional Integration: The Positive Side of Risk,” researchers…
Transport Canada to relax rules on importing cars without immobilizers (December 03, 2007)
December 3, 2007 by Canadian UnderwriterTransport Canada is proposing an amendment to the Motor Vehicle Safety Regulations (MVSR) to make it easier for Canadians to import vehicles from the United States that are either already equipped with an electronic immobilization system “or can be fitted…
What’s New: In Brief (December 03, 2007)
December 3, 2007 by Canadian UnderwriterMore than 125 RCMP and municipal police officers, in addition to members of the integrated road safety units, set up roadchecks from Whistler to Boston Bar on Dec. 1 to kick off this year’s Drinking Driving CounterAttack campaign. Insurance Corporation…
Transport Canada to relax rules on importing cars without immobilizers (December 03, 2007)
December 3, 2007 by Canadian UnderwriterTransport Canada is proposing an amendment to the Motor Vehicle Safety Regulations (MVSR) to make it easier for Canadians to import vehicles from the United States that are either already equipped with an electronic immobilization system “or can be fitted…
What’s New: In Brief (December 03, 2007)
December 3, 2007 by Canadian UnderwriterA.M. Best Co. has upgraded the financial strength rating of ACE INA Insurance (Canada) to A+ (Superior) from A (Excellent).The ratings reflect A.M. Best’s view that the company maintains excellent capitalization, has delivered consistently strong operating performance for several years…
Umbrella endorsement covers occurrence, not claims made coverage
December 3, 2007 by Canadian UnderwriterOntario’s Court of Appeal has affirmed that an endorsement contained in a commercial umbrella liability policy provided by Liberty Mutual Insurance Company provided coverage on an occurrence basis rather than on the basis of when the claim was made.The case…
York Fire & Casualty pulls rates from online quoting engine
November 30, 2007 by Canadian UnderwriterIn a move to support the independent broker distribution channel, York Fire & Casualty Insurance removed its rates from Belair Direct Insurance’s online quoting engine, according to a release from the Insurance Brokers Association of Ontario (IBAO). The IBAO notes…