Keyword
Claims
Flood of Options
April 1, 2015 Glenna Boudreau, president; and Karen Slaunwhite, executive director, Insurance Brokers Association of Nova ScotiaWith the increase in water-related events, insurers have responded in a number of ways, including by introducing higher premiums and exclusions. Consumers must take steps to ensure they are prepared and to seek out advice that will help them mitigate losses should an adverse event occur.
The War on Staged Collisions
April 1, 2015 Ralph Palumbo, Vice President, Ontario, Insurance Bureau of CanadaThe “car accident business” is not only big and expensive, it is ever-changing and ever-evolving. A co-ordinated campaign by all players in the property and casualty industry is critically important to gain ground and drive back auto insurance fraud estimated to cost more than $1 billion a year in Ontario.
Moves and Views
April 1, 2015 by Canadian Underwriter1 Totten Insurance Group Inc. has announced it has acquired the shares of Montreal-based National Brokerage Services S.C.N. Inc., a commercial insurance wholesaler. Totten Insurance Group, a subsidiary of Hub International Ltd., reports that its acquisition of NBS complements the company’s…
Marketplace
April 1, 2015 by Canadian UnderwriterCANADIAN MARKET Quebec brokerage sector a model: Study Quebec’s brokerage industry is the driving model for damage insurance, notes a new study, sponsored by BMO Bank of Montreal. The Regroupement des cabinets de courtage d’assurance du Québec commissioned Raymond Chabot…
De-railed
March 1, 2015 Angela Stelmakowich, EditorSeeking ways to better manage the risks associated with oil-by-rail transport – as well as to deal with the often negative and costly fallout from derailments, collisions or worse – is gaining momentum in Canada. Ottawa looks to be moving…
Moves and Views
March 1, 2015 by Canadian Underwriter1 Swiss Re Canada welcomed its new president and chief executive officer, Veronica Scotti [1a], effective April 1. Scotti most recently served as Swiss Re’s client executive, based in Armonk, New York, and will now work out of Toronto, the reinsurer…
Moving Target
March 1, 2015 Angela Stelmakowich, EditorCyber risk is evolving. Despite recent high-profile attacks meant to disparage, disrupt and produce fear, though, a true picture of cyber risk involves far more than intended events. Risk managers must, first, accept the breathtaking breadth of the risk and, second, be ready to absorb information that will help them to set an accurate sight on what is (and will continue to be) a moving target.
Ports of Call
March 1, 2015 Thomas Ptacek, Senior Vice President, Marsh USA Inc.; and George Boire, Environmental Practice Leader, Marsh Canada LimitedWith the growth in oil traffic activity, environmental risks at ports and terminals are also on the rise. That said, a solid understanding of current conditions and potential risks can help with identifying what insurance solutions will help address and minimize any related loss.
Moves and Views
February 1, 2015 by Canadian Underwriter1 Bob Fitzgerald [1] has been appointed chief executive officer of SCM Insurance Services, succeeding founder and chief executive officer Larry Shumka, who will become the firm’s first-ever executive chairman. Most recently president of SCM Insurance Services’ adjusting and claims…
Marketplace
February 1, 2015 by Canadian UnderwriterTECHNOLOGY Potential economic benefit of driverless cars $65 billion annually Automated vehicles (AVs) – or self-driving cars – could be on Canadian roads between 2020 and 2025, with the economic benefits being more than $65 billion annually, reports the Conference…
Deeper Pool
February 1, 2015 Greg Meckbach, Associate EditorAs Ottawa plans to increase the absolute liability on Canadian nuclear operators from $75 million to $1 billion, the association writing most of the coverage for operators is looking to deepen the pool by attracting new insurers in anticipation of more required capacity by the end of 2015.
Appreciating Depreciation
February 1, 2015 Timothy Zimmerman, Senior Manager, Litigation Accounting and Valuation Services, Collins Barrow Toronto LLPConsideration of depreciation as a saved expense in the context of fully destroyed and replaced assets is well-trodden ground. But what about the question of how best to deal with depreciation savings for undamaged assets in a business interruption claim?