News
British insurers want Solvency II equivalency higher on the agenda
March 2, 2012 by Canadian UnderwriterThe Association of British Insurers (ABI) wants to see the issue of non-EU countries’ equivalence with the proposed Solvency II capital regime to be bumped higher up the agenda. “The industry is investing hundreds of millions of pounds to implement…
CIP Society announces call for leadership award nominations
March 2, 2012 by Canadian UnderwriterThe CIP Society has announced its call for nominations for the 2012 National Leadership Awards, a national program recognizing excellence in the property and casualty insurance industry. The awards are divided into two categories: ‘Established Leaders’ and ‘Emerging Leaders.’ The…
Tornadoes kill 12, cause widespread property damage in southern United States
March 2, 2012 by Canadian UnderwriterAn estimated 30 tornadoes tore through six Midwest states on Feb. 28 and 29, killing at least 12 people and causing widespread property damage, Guy Carpenter reported. Nebraska, Kansas, Missouri, Illinois, Indiana and Kentucky were all affected by the severe…
Gaps in corporate travel policies create exposures for employers
March 1, 2012 by Canadian UnderwriterLess than one-third of companies have updated their corporate travel policies within the last year, leaving employees on business travel at risk, according to American Express Global Business Travel. American Express Global Business Travel analyzed 100 travel policies of global,…
Borden Ladner Gervais creates national insurance group
March 1, 2012 by Canadian UnderwriterBorden Ladner Gervais LLP has created a national insurance corporate/regulatory group. Crawford Spratt, Jill McCutcheon and Kelly Morris, all insurance law practitioners, have joined the firm. Spratt will serve as the national head of the group, McCutcheon as the group’s…
Preventing distracted driving means targeting distractions as well as drivers
March 1, 2012 by Canadian UnderwriterCORRECTION: Dr. Peter Burns of Transport Canada was incorrectly paraphrased in the original version of this article as saying billboards were a source of concern, when in fact he was speaking about emerging technologies. Also, Robyn Robertson said there were…
Outside Intelligence launches big data application for insurers
March 1, 2012 by Canadian UnderwriterOutside Intelligence, a search-based applications (SBA) provider, has launched an application for insurers that allows them to mine, analyse and organize ‘big data.’ Big Data consists of data sets that grow so large they can become awkward to use. Data…
Hands-free phones not necessarily much safer than handheld phones while driving
March 1, 2012 by Canadian UnderwriterCanadian legislation is focused on the dangers of using hand-held cell phones while driving, but using hands-free devices while driving may not be that much safer, according to panelists attending the Driven to Distraction conference in Toronto on Mar. 1.…
Even if purchasing insurance online, consumers expect personal contact throughout the policy lifecycle
February 29, 2012 by Canadian UnderwriterCanadian consumers are increasingly exploring their property and casualty options online, but they still demand direct personal contact throughout the policy lifecycle and at renewal, an Ernst & Young report found. Ernst & Young surveyed more than 24,000 insurance consumers…
Drivers aged 56-60 pay less for auto insurance than 41-45 age group – unless they live in Ontario
February 29, 2012 by Canadian UnderwriterCanadian drivers in the 56-60 age category can pay an average of up to $15 per month less for car insurance premiums than younger drivers in the 41-45 age bracket — unless you live in Ontario. InsureEye Inc., a Canadian…
Regulations required to handle increased Arctic shipping traffic
February 29, 2012 by Canadian UnderwriterIncreased shipping traffic through Arctic waters and delays in international governance are putting Canadian waters at risk, the Winnipeg Free Press reported. The International Maritime Organization has delayed its mandatory ‘Polar Code’ for all ships in the Arctic until 2013,…
Japan tsunami debris likely to make landfall in B.C. in 2013-14
February 29, 2012 by Canadian UnderwriterDebris from the March 11, 2011 tsunami in Japan will likely make landfall on the coast of British Columbia between March 2013 and March 2014, according to the National Oceanic and Atmospheric Administration (NOAA). The massive debris field has been…