News
Lana Wood resigns as president of Western Financial Group
November 8, 2011 by Canadian UnderwriterLana Wood is resigning as president of Western Financial Group (Network) Inc., effective Nov. 30, for undisclosed reasons.President and CEO Scott Tannas will assume Wood’s responsibilities on an interim basis. The company will be conducting an executive search both externally…
Nearly $10 million in fraud savings for MPI
November 7, 2011 by Canadian UnderwriterManitoba Public Insurance announced total fraud savings of $9.4 million in the last fiscal year. “This financial figure is based on an estimate of money recovered and fraudulent claims denied,” said Ted Hlynsky, vice-president claims control and safety operations with…
Granite Claims Solutions acquires Advance Claims Services
November 7, 2011 by Canadian UnderwriterGranite Claims Solutions has purchased Vancouver-based Advance Claims Service Ltd.This is the company’s fifth acquisition in the past twelve months. Advance Claims is an independent adjusting firm in British Columbia, with offices in Vancouver, Abbotsford, Chilliwack, Kelowna, Penticton, Vancouver Island…
Severity of vehicle repair appraisals decreases in 2011 Q3: Mitchell
November 7, 2011 by Canadian UnderwriterThe severity of first and third-party repairable vehicle appraisals decreased to $3,036 in 2011 Q3 from 2010 Q3’s $3,408, according to Mitchell’s Canadian Collision Summary.The Canadian Collision Summary is included in Mitchell’s Industry Trends Report.“The average gross initial Appraisal Value,…
iClarify Services now available in Atlantic Canada
November 7, 2011 by Canadian UnderwriterSCM Risk Management Services (RMS) has launched iClarify Services in Atlantic Canada for more than 150 brokerages. This is part of a national rollout, with an anticipated completion by the end of Q4. Combining unique, proprietary data derived from the…
QBE appoints Canadian director of underwriting
November 7, 2011 by Canadian UnderwriterQBE has announced the appointment of Valerie Jobson to director of underwriting in the company’s Canadian branch. Having joined QBE in September, she reports to David Edgar, general manager of the Canadian branch.Jobson brings with her more than 31 years…
End of Daylight Savings Time brings heightened risk of crashes: ICBC
November 7, 2011 by Canadian UnderwriterB.C. drivers overestimate the benefits of an extra hour of sleep that comes with the end of Daylight Savings Time (DST), causing drivers to experience greater risks on the road, an ICBC survey found.There is a 10% increase in the…
Quebec consumers report highest satisfaction with home insurers
November 4, 2011 by Canadian UnderwriterCustomers in Quebec appear to have the highest level of satisfaction with their home insurers, compared to customers in the Western and Ontario/Atlantic regions, according to JD Power and Associates.The ‘2011 Canadian Home Insurance Study’ measures home insurance customers’ experiences…
Insured losses from Thailand flood likely to range from $4.5 billion to $5.85 billion
November 4, 2011 by Canadian UnderwriterThailand’s Office of Insurance Commission (OIC) estimates the insured losses caused by flooding so far to be US$4.5 billion, reported Guy Carpenter. The country has experienced its worst flooding in years over the past few months, leaving more than 420…
Craig Kielburger to serve as keynote speaker at Insurance Institute’s Toronto convocation
November 4, 2011 by Canadian UnderwriterCanadian activist Craig Kielburger will serve as the keynote speaker at The Insurance Institute of Ontario’s Toronto Convocation & Awards Night on Jan. 26, 2012.Keilburger, founder of the international charity Free the Children, is one of the youngest recipients of…
CGI and SAS team up to launch fraud detection service for P&C insurers
November 4, 2011 by Canadian UnderwriterCGI Group Inc. has developed a service, powered by SAS, that is designed to assist Canadian property and casualty insurers detect insurance fraud. The fraud detection solution will provide participating insurers with access to a service that leverages policy and…
Chubb launches online risk management resource
November 4, 2011 by Canadian UnderwriterThe Chubb Group of Insurance Companies has launched an interactive online resource and community addressing risk management challenges for businesses and individuals.‘Risk Conversation,’ can be found at www.riskconversation.com, includes loss prevention information, blogs and risk assessment tools that help users…