News
Insured losses for Canadian catastrophes reach $1.5 billion
April 27, 2012 by Canadian UnderwriterCanadian insurers saw total insured losses soar to $1.5 billion last year as a result of catastrophes. The total is substantially higher than the $860 million in 2010, Joel Baker, president and CEO of MSA Research Inc., told attendees at…
Industry reacts to Ontario auto insurance study
April 26, 2012 by Canadian UnderwriterAnother review of problems plaguing Ontario’s auto insurance sector will likely duplicate ongoing government-sponsored initiatives, according to Insurance Bureau of Canada (IBC). IBC was responding to the recent announcement of a study by the Ontario Standing Committee on General Government…
Travelers Canada appoints John Emory to regional vice president of Eastern region
April 26, 2012 by Canadian UnderwriterTravelers Canada has appointed John Emory to the position of regional vice president of the Eastern region. Emory is an industry veteran who began his career with Travelers in Montreal in 1973. He spent 14 years with the company, working…
Guy Carpenter’s Donald Morrison to discuss reinsurance at ICLR’s May 2012 Friday Forum
April 26, 2012 by Canadian UnderwriterDonald Morrison, vice president for the Canadian office of the global reinsurance broker Guy Carpenter, will be speaking on May 25 at the Institute for Catastrophic Loss Reduction (ICLR)’s May 2012 Friday Forum. Morrison will speak on the history of…
Michael Joseph De Francesco Memorial Award established at Sault College
April 26, 2012 by Canadian UnderwriterFred De Francesco of Fairview Insurance Brokers Inc. has established the Michael Joseph De Francesco Memorial Award in honour of his late son, Michael. Fred De Francesco had recently been lecturing to insurance brokers (on ‘Insurance Topics’) in northern Ontario…
87% of ICBC workers vote for job strike
April 26, 2012 by Canadian UnderwriterUnionized employees of the Insurance Corporation of British Columbia (ICBC) voted overwhelmingly on Apr. 25 in favour of job action. The Canadian Office and Professional Employees Union (COPE), Local 378, which represents 4,600 ICBC workers, says its members have gone…
Ontario committee to hold public hearings on auto insurance
April 26, 2012 by Canadian UnderwriterA committee of the Ontario legislature has voted to conduct a “fair and balanced study” into auto insurance industry practices and trends. The Standing Committee on General Government passed a motion on Apr. 16 to strike the select committee, which…
SCM launches iClarify services to Manitoba brokers
April 25, 2012 by Canadian UnderwriterSCM Risk Management Services (RMS) has launched iClarify services to Manitoba brokers using the Compu-Quote quoting platform and PowerHouse evaluation platform. The initial launch will focus on the Greater Winnipeg Area and the most heavily populated city centres across the…
Applied Systems adopts eDoc standards
April 25, 2012 by Canadian UnderwriterSoftware 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…
IBC encourages Ontario to act with urgency on auto insurance file
April 25, 2012 by Canadian UnderwriterThe 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…
SGI cancels “green” rebate for fuel-efficient vehicles
April 25, 2012 by Canadian UnderwriterSaskatchewan 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…
Bermuda market affected by cat losses of 2011
April 25, 2012 by Canadian UnderwriterAlmost 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,…