The Financial Services Commission of Ontario is about to implement more changes to the Health Claims for Auto Insurance (HCAI) System, with new versions of certain forms mandatory as of next month. The changes, previously announced in June, will apply…
The Government of Japan and the World Bank have called on national governments to foster a culture of prevention by integrating disaster risk management in development policy and investment programs to meet economic losses from natural hazards that now amount…
Net income after taxes increased while net losses and loss adjustment expenses (LAEE) decreased year-over-year for American non-government property and casualty insurance firms, due in part to a reduction in losses from catastrophes for the first six months of 2012,…
Financial results for the Canadian property and casualty insurance sector improved year-over-year during the first six months of 2012, according to industry experts. Net income for the industry increased 57.5% (to $2.100 billion during the first six months of 2012…
Legal damages accounted for the majority of the $3.7 million average cost per data breach that occurred between 2009 and 2011, notes a new whitepaper from NetDiligence, based in Philadelphia. Cyber Liability & Data Breach Insurance Claims: A Study of…
The 4.5-magnitude earthquake that occurred near Montreal just after midnight is unlikely to cause serious damage, but reinforces the region’s vulnerability, according to one industry expert. “I don’t think we should see this as any kind of omen of a…
For insurance professionals looking to gain a competitive edge and stand out via social media, touting their products on Twitter isn’t enough. “In our mind, the next battlefield will be around customer experience,” said Sylvie Paquette, president and COO of…
More than half of Canadians think fire and police departments should be using social networking tools for emergency response and most would sign up for electronic alerts during an emergency, a new poll commissioned by the Canadian Red Cross suggests.…
The Insurance Brokers Association of Canada has announced its chariman, Dale Rempel, has passed away. The organization released this statement: “It is with great sadness that the Insurance Brokers Association of Canada announces the passing of its Chairman, Mr. Dale…
Property and casualty insurer RSA Canada has appointed Tony Hayes as its new vice president of sales and marketing, effective immediately. He was previously responsible for the national sales strategy for the insurer’s personal and commercial insurance portfolios. In his…
Seasonal monsoon rains leading to major flooding in Asia this September caused about $7.5 billion in economic losses, reinsurance company Aon Benfield noted in its monthly Global Catastrophe Recap report. Much of that loss was in China, where flooding caused…
XL Foods, the producer involved in a major beef product recall, has said it takes full responsibility for its facilities and the food there, and will work to improve plant standards. In an Oct. 4 statement published by several media…