News
Swiss Re analyzes insurable risks from carbon emission reduction technologies
January 21, 2013 by Canadian UnderwriterAs investment in energy-saving technologies and renewable power sources increases, the demand for improved risk management and insurance will also increase, according to a report from Swiss Re. The reinsurance firm released Monday a report, titled Building a Sustainable Energy…
New cat risk insurance pilot program launched for Pacific island nations
January 21, 2013 by Canadian UnderwriterSwiss Re is among the insurance industry players signed on to a public-private partnership to provide a catastrophe risk insurance program for several Pacific island countries. The Pacific Catastrophe Risk Insurance Pilot program, launched last Friday, provides protection for The…
Non-profit aims to improve catastrophe modelling
January 21, 2013 by Canadian UnderwriterA London-based non-profit firm is aiming to provide a “new method of catastrophe modelling” this year, according to Lloyd’s. Oasis Modelling Framework LP, which is “supported” by insurers including Lloyd’s, will let insurance firms “undertake full uncertainty calculations within a…
B.C. court rules in favour of Lombard over auto insurance lawsuit for leased vehicle
January 21, 2013 by Canadian UnderwriterThe British Columbia Supreme Court recently dismissed an application by Canadian Direct Insurance Inc. (CDI) to order Lombard General Insurance Company of Canada to reimburse CDI for costs to defend a driver involved in an accident. The central issue in…
Ontario appeal court rules for insurer after assault victim tries to claim auto accident benefits
January 21, 2013 by Canadian UnderwriterThe Court of Appeal of Ontario has overturned most of a lower court decision two years ago in which a judge ruled against Certas Direct Insurance Company, which denied accident benefits to a claimant who was assaulted in and near…
CARSTAR appoints new executives as part of business transition
January 21, 2013 by Canadian UnderwriterCollision repair company CARSTAR Automotive Canada Inc. has appointed a new chief operating officer, as well as a new executive vice president and a new vice president of finance as part of a business transition plan in the works for…
B.C. government reviewing 1,200 files on impaired drivers
January 18, 2013 by Canadian UnderwriterThe British Columbia government is conducting a review of about 1,200 drivers referred to remedial programs under its impaired driving laws, after some drivers petitioned for a judicial review. The review by the Office of the Superintendent of Motor Vehicles…
Small underwriting profit predicted for Canadian insurers
January 18, 2013 by Greg Meckbach, Associate EditorA Canadian insurance executive is projecting a small underwriting profit for the industry for 2012, while expressing concern about economic uncertainty, climate change and the condition of the nation’s roads and sewers. Philip Cook, chairman and CEO of Omega Insurance…
McLennan Group Insurance launches mobile app for CARP members
January 18, 2013 by Canadian UnderwriterThe McLennan Group Insurance Inc. announced earlier this week the Insurance Programs for CARP Members mobile application is available now. Aptly named CARPMembers, the quick, easy and free app is available to current and future CARP members, notes a joint…
Manitoba Public Insurance reports stable financial performance
January 18, 2013 by Canadian UnderwriterManitoba Public Insurance (MPI) this week reported that claims costs and investment income remain within expectations, citing net income of $15.1 million for the first nine months of the year, ended Nov. 30, 2012, compared with $36.9 million over the…
37% of U.S respondents report spending more on insurance over the past year
January 18, 2013 by Canadian UnderwriterMore than a third of respondents to a recent survey in the United States say they spent more on insurance over the past year, the majority as a result of higher premiums. Of the respondents taking part in the survey,…
Canada gets a “C” grade on environmental report card
January 18, 2013 by Canadian UnderwriterCanada has received “C” grade on a new environmental report card, ranking low on the list of other major developed countries, above only the United States and Australia. Canada ranked 15th out of 17 countries on The Conference Board of…