News
December second deadliest month on Manitoba roads: MPI
December 13, 2011 by Canadian UnderwriterThe month of December has the second-highest average of collision victims after January, according to MPI’s collision data. The police-reported collision data was collected over a five-year period (2005-09). Over the last three years, a total of 25 people have…
ICBC raises $35,800 for ‘Movember’ campaign
December 13, 2011 by Canadian UnderwriterA team of Insurance Corporation of B.C. (ICBC) employees sporting moustaches throughout the month of November managed to raise more than $35,000 for Prostate Cancer Canada.The initiative was part of the ‘Movember Campaign.’ During November of each year, in Canada…
SAS and TransUnion partner to develop fraudster predictive model
December 13, 2011 by Canadian UnderwriterSAS Canada and TransUnion, a credit and information management firm, have teamed to develop a predictive model aimed at tracking down fraudsters more effectively. The model will leverage credit file information, in addition to fraud data from a consortium of…
IBAO sponsors Alliance Hockey championships
December 12, 2011 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) has announced its title sponsorship of the Alliance Hockey, House League, House League Select and Minor Development championships. The championships will run the first two weeks in April, in Hamilton, Stratford and Woodstock,…
Chubb golf tournament raises $63,000 for Canadian charities
December 12, 2011 by Canadian UnderwriterChubb Insurance of Canada will be making an additional $63,000 contribution to charities based on the performance of three Canadian Broker teams during the international Chubb Charity Challenge. The golf tournament was held at the Ritz Carlton Golf Resort in…
Skilled worker shortage tops list of risks facing businesses: Lloyd’s
December 12, 2011 by Canadian UnderwriterLosing customers and a shortage of skilled workers has topped the 2011 Lloyd’s Risk Index, displacing a lack of credit as the greatest worry for businesses. The Economist Intelligence Unit surveyed 500 global businesses on behalf of Lloyd’s to determine…
Operation Overdrive launched to apprehend drunk drivers in Saskatchewan
December 12, 2011 by Canadian UnderwriterTraffic enforcement officers in Saskatchewan will hold a second province-wide two-day traffic safety blitz on Dec. 15-17, SGI reported.Operation Overdrive is part of a coordinated approach by police agencies across the province. Each month they will target a particular safety…
OSFI to improve quality of risk registers: internal audit report
December 12, 2011 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) has a comprehensive enterprise risk management (ERM) program in place, but there’s still room for improvement, according to an Internal Audit report. Internal Audit conducted the review to determine whether OSFI’s…
Chesterfield Canada to offer port and terminal insurance
December 12, 2011 by Canadian UnderwriterChesterfield Canada Inc. has announced the release of Lloyd’s capacity for coverage of ports and terminals across Canada. Chesterfield will offer coverage for the assets of ports and terminals, both for ocean marine and brown water operations. While capacity is…
Bermuda P&C companies reducing exposures rather than pursuing market share: AM Best report
December 9, 2011 by Canadian UnderwriterCatastrophe pricing in Bermuda’s insurance and reinsurance market has improved in certain loss-hit regions, but some companies are reducing exposures rather than pursuing greater market share, an A.M. Best Special Report has found.“Similar to what occurred after the Chilean earthquake…
Saskatchewan court finds brokerage did not make clear to policyholder an exclusion for vandalism based on vacancy
December 9, 2011 by Canadian UnderwriterThe Saskatchewan Court of Queen’s Bench recently found that a brokerage had breached its duty of care by not informing a client about a policy coverage exclusion for vandalism that applied immediately upon his rental property being vacated.In Cheecham v.…
SCM purchases independent medical assessment division of Medisys
December 9, 2011 by Canadian UnderwriterSCM Insurance Services has purchased the independent medical assessment division of Medisys, SCM’s second acquisition of an independent medical examiner (IME) in 30 days. Medisys is a national provider of preventive health programs, independent medical assessments, travel health and medical…