News
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…
Catastrophe losses reveal potential emerging market risks: Guy Carpenter
September 12, 2012 by Canadian UnderwriterThe remarkable clustering of global natural catastrophes in 2010 and 2011 revealed unexpectedly expensive “cold spot” losses in areas not previously considered risky, notes a new report from Guy Carpenter. This clustering demonstrates there are growth opportunities in emerging economies…
New licensing program available in Saskatchewan
September 12, 2012 by Canadian UnderwriterInsurance professionals in Saskatchewan have recently gained access to a new Level 1 licensing program from ILScorp. The ILS Introduction to General Insurance (ILS IGI) program is now accredited by the Insurance Council of Saskatchewan, notes a statement from ILScorp,…
New catastrophe risk tool designed to customize modeling
September 12, 2012 by Canadian UnderwriterAon Benfield recently launched a loss calculation platform that aims to help insurance companies better understand risk and vulnerability based on their actual loss experience and current portfolio of business. ELEMENTS 7, a tool designed by Impact Forecasting, gives insurers…
Future risk leaders must be adaptive, says RIMS report
September 12, 2012 by Canadian UnderwriterThe risk management profession is evolving from a “defensive” approach to one that must offer broader value for an organization, and successful risk leaders must be adaptive, says a new report from RIMS. The new executive report, The Evolving Role…
PERILS to provide flood footprints based on satellite data
September 12, 2012 by Canadian UnderwriterPERILS AG, a European catastrophe insurance data provider, has launched a new project to provide satellite-based flood footprints during and after major flood events. The Zurich-based company is working with the European Space Agency to provide the information. Industry participants…
CIP Society announces 2012 National Leadership Award winners
September 12, 2012 by Canadian UnderwriterThe CIP Society has announced five recipients of its National Leadership Awards for 2012. This year’s award recipients are: Established Leaders: Diane Brickner, CIP, ICD.D Edmonton, Alberta Barry F. Lorenzetti, CIP Montreal, Quebec Emerging Leaders: Drew Collins, BA, CIP, CRM,…
Damages from most recent Alberta storms total more than $200 million: IBC
September 12, 2012 by Canadian UnderwriterDamages from the two most recent serious storms in Alberta have amounted to more than approximately $200 million, new data from Insurance Bureau of Canada suggests. The larger of the two storms was on Aug. 12, when a severe thunderstorm…
Michel Turcotte recognized with the Donald M. Stuart Award at RIMS Canada conference
September 11, 2012 by Canadian UnderwriterMichel Turcotte, senior director of risk management and insurance at Ivanhoe Cambridge, Inc. in Montreal., has been named the recipient of the 2012 Donald M. Stuart Award. Widely recognized as Canada’s highest honour within the risk management field, Turcotte was…