CNA Canada, a commercial insurer with more than 60 years of experience in writing construction, has announced the launch of its new construction insurance product, CNA Build.CNA Build was developed in consultation with distribution partners and CNA professionals in the…
The Insurance Bureau of Canada (IBC) on Jan. 1, 2008 is launching a project that will accurately track domestic oil spills in Atlantic Canada for the first time. The data will be provided to governments as part of an effort…
A group of 21 U.S. property and casualty reinsurers wrote US$17.9 billion of net premiums during the nine months ended Sept. 30, 2007, compared to US$19.6 billion in net premium written during the same period in 2006, according to an…
Insurers are entitled to conduct an examination under oath of an insured, pursuant to the Insurance Act, regardless of whether or not the relationship between the insurer and insured is adversarial or a lawsuit has commenced, Ontario’s Court of Appeal…
The Insurance Brokers Association of Ontario (IBAO) has launched a new feature of its online function, ‘Locate a Broker,’ which now allows consumers to search for a broker representing a specific insurance company.“Using a broker is all about having access…
Insurers 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…
HUB 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…
Process 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.…
As 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…
The 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…
The 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 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…