News

Software provider Applied Systems is supporting the Centre of the Study of Insurance Operations (CSIO) XML eDoc standards in the company’s next major release of its TAM broker management system, expected 2012 Q4. Applied Systems has already begun work with…

The Insurance Bureau of Canada (IBC) is keeping a watchful eye on the impact of Ontario’s 2010 auto insurance reforms and ongoing related initiatives, urging the provincial government to act quickly on its commitments to amend the catastrophic impairment definition…

Saskatchewan motorists who drive environmentally friendly vehicles will no longer be receiving a provincial rebate. Saskatchewan Government Insurance (SGI) has cancelled the break on auto insurance for hybrid and fuel-efficient vehicles, first launched in 2008. SGI’s decision attracted some criticism…

Almost half of the reinsurers based in Bermuda reported net losses last year due to significant catastrophe activity, according to the Association of Bermuda Insurers and Reinsurers (ABIR). Ten out of 22 member companies of the ABIR reported net losses,…

An explosion and fire at the Lakeland Mills sawmill in Prince George, B.C. on Apr. 23 was the second such incident in four months and will contribute to an already difficult insurance market for lumber operators in the province. The…

Civil unrest partially arising from global economic austerity measures has prompted downgrades in 37 countries in Aon’s annual risk assessment of global terrorism and political violence. Citing austerity measures as a byproduct of the global economic crisis, Aon Risk Solutions,…

Better risk management and more sophisticated risk modeling platforms are two main reasons behind the global reinsurance sector’s “resiliency” in the face of near-record catastrophe losses last year, says A.M. Best in a recent report. “In a word, ’resilient’ might…

New research will provide a “clearing house” of information on wildlife-vehicle collisions, an issue that costs more than $200 million per year, according to the Traffic Injury Research Foundation (TIRF). TIRF is creating a database that will summarize all available…

The ACE Group has announced new leadership appointments in its Canadian operations. Andrew Hollenberg, regional senior vice president of accident and health (A&H) and life for ACE Europe, has been appointed as country president of ACE Canada. In this position,…

SCM Risk Management Services (RMS) has launched iClarify services to Alberta brokers using the Compu-Quote and PowerQuote platforms. The initial launch focuses on Calgary, Edmonton, Lethbridge, Red Deer and Medicine Hat, with enhanced data and imagery continuing to go live…

The Insurance Corporation of British Columbia (ICBC) is seeking essential service designation for specific claims, insurance and driver-licensing functions, loss of which the ICBC argues could put residents at risk should staff decide to strike. The Canadian Office & Professional…

Two-thirds of drivers in the Greater Toronto Area (GTA) say they would likely try pay-as-you-drive (PAYD) insurance if it were available, notes a study by the Pembina Institute, a non-profit think tank that promotes sustainable energy solutions. The institute’s study…