News
European firms face risky international business environment: ACE survey
September 14, 2012 by Canadian UnderwriterMore than half of European companies (54%) responding to an insurer survey believe that doing international business has become more risky over the last five years, and 95% say their own company has become more concerned about multinational and export…
New Brunswick announces interim flood mitigation measures for Perth-Andover region
September 14, 2012 by Canadian UnderwriterThe New Brunswick government announced a total of $2.85 million in immediate and interim flood mitigation measures for the Perth-Andover region in the western part of the province. The measures follow the release of a mitigation study and are part…
IBRI releases mobile app for brokers
September 14, 2012 by Canadian UnderwriterThe Independent Broker Resources Inc. (IBRI) has released a smartphone app for brokers, called the Insurance Companion. The app is available for Android, iPhone and Blackberry operating systems and will allow an insurance brokerage to have its own branded mobile…
Insured losses from Hurricane Isaac US$1-2 billion from wind and surge: RMS estimate
September 13, 2012 by Canadian UnderwriterRisk Management Solutions (RMS) estimates that U.S. insured losses from Hurricane Isaac’s wind and surge impacts on the U.S. Gulf Coast will be between US$1 billion and US$2 billion. Those figures exclude rainfall-driven flood losses and all National Flood Insurance…
Drugs or alcohol a factor in majority of fatal car accidents: U.S. study
September 13, 2012 by Canadian UnderwriterJust over half of U.S. drivers killed in automobile accidents had drugs or alcohol in their systems at the time of the crash, according to a new study from Columbia University. Alcohol was the most common substance detected, followed by…
Applied Systems opens new data centre in Canada
September 13, 2012 by Canadian UnderwriterInsurance software company Applied Systems has announced the opening of its Canadian data centre. The new centre will meet what the Illinois-based company calls a growing demand for cloud-based brokerage management systems. The new facility is its third data centre…
New collision reporting centre opens in Alberta
September 13, 2012 by Canadian UnderwriterThe Lethbridge Regional Police Service (LRPS), in partnership with Accident Support Services International, has opened a new Collision Reporting Centre. The centre is the first of its kind in Alberta, according to a statement from LRPS. It will allow police…
ICBC claims centre staff set for strike action
September 13, 2012 by Canadian UnderwriterMore than 1,500 unionized workers at 55 claims-related Insurance Corporation of British Columbia (ICBC) locations will stage a one-day strike Sept. 18, the Canadian Office and Professional Employees Union, Local 378 said yesterday. “These are employees who have been without…
IDT911 expands in Canada to offer privacy breach services to insurers and businesses
September 13, 2012 by Canadian UnderwriterIDT911, an identity management and data risk management services provider, has expanded into Canada to help businesses minimize the chance of breaches and manage them when they occur. The Arizona-based company, which has offices in Toronto, partnered with Economical Insurance…
Quebec court orders insurer to indemnify investors bilked by advisor
September 13, 2012 by Canadian UnderwriterQuebec’s Court of Appeal ordered Lloyd’s to pay $460,000 to investors as a result of negligent acts committed by its financial planner and the firms for which he worked, Norton Rose Canada reports in a legal update. The court’s unanimous…
Verisk Analytics launches information-sharing systems in Canada to fight cargo and heavy equipment theft
September 12, 2012 by Canadian UnderwriterVerisk Crime Analytics has launched two new national information-sharing systems for Canadian insurers and policyholders to fight cargo and heavy equipment theft. The CargoNet and National Equipment Register (NER) are already supported by several Canadian insurers and fleets, and law…
Medical exam expenses not recoverable from second party insurer: Ontario Court
September 12, 2012 by Canadian UnderwriterAn insurance company cannot recover medical examination expenses from another insurer under the provincial loss transfer scheme, according to a recent 2-1 decision from the Court of Appeal for Ontario. In the case, Wawanesa v. Axa, the first party insurer…