News
Saskatchewan Mutual Insurance implements iter8 for broker download initiative
October 4, 2011 by Canadian UnderwriterSaskatchewan Mutual Insurance has selected iter8’s ‘communic8′ for its independent broker download initiative for multiple broker management systems.The implementation of communic8 will enable independent brokers to receive accurate, complete download services, a Saskatchewan Mutual release says.Iter8 will use communic8 to…
Audatex offers web-based business intelligence platform to shop owners
October 4, 2011 by Canadian UnderwriterAudatex North America, Inc. has extended its web-based business intelligence software for monitoring key performance indicators to single shop owners and multi-shop organizations. Audatex Insight for Repair Facilities is a web-based business intelligence platform that allows insurers to monitor, measure…
DAS Canada offers Albertans free legal advice
October 4, 2011 by Canadian UnderwriterDAS Canada is offering Albertans a week of free legal advice around the strict distracted driving legislation that was adopted in that province on Sept. 1. The law bans the use of hand-held electronic devices while driving. But the province…
Quebec has most affordable insurance, Ontario the least, study finds
October 3, 2011 by Canadian UnderwriterAuto insurance has been most costly and least affordable in Ontario, British Columbia, Saskatchewan and Manitoba, according to a recent study by the Fraser Institute.“Auto insurance premiums have been consistently most affordable in Alberta, Newfoundland & Labrador, Nova Scotia, Prince…
Hub snaps up Coastal Insurance Services in B.C.
October 3, 2011 by Canadian UnderwriterHub International Limited (Hub) has announced that its Hub International TOS (Hub TOS) British Columbia operating unit has acquired the shares of Coastal Insurance Services Ltd. (Coastal).Coastal is a Port Moody, British Columbia (B.C.)-based insurance brokerage firm that has specialized…
Tropical Storm Ophelia passes through Newfoundland, leaving behind floods in some communities
October 3, 2011 by Canadian UnderwriterTropical Storm Ophelia weakened prior to crossing the southern Avalon Peninsula of Newfoundland in the morning of Oct. 3, the Canadian Hurricane Centre reported.As of 3 p.m. on Oct. 3, the CHC reported the storm had tracked about 325 km…
Dr. Gordon McBean elected president of International Council for Science
October 3, 2011 by Canadian UnderwriterDr. Gordon McBean, director of policy for the Institute for Catastrophic Loss Reduction (ICLR), was elected president of the International Council for Science (ICSU) during the council’s annual general assembly in Rome, Italy on Sept. 30.Under the organization’s rules, McBean…
Relationship found between risk management maturity and financial performance: Aon
October 3, 2011 by Canadian UnderwriterA positive relationship exists between the maturity of an organization’s risk management framework and its financial performance, according to early findings from the Aon Risk Maturity Index.Aon launched the index in partnership with the Wharton School of the University of…
Zurich launches commercial real estate product
October 3, 2011 by Canadian UnderwriterZurich Canada has launched a product that focuses on the risk management needs of commercial real estate owners and managers in Canada. The Real Estate Advantage provides a bundled product that includes more than 35 additional property coverages, builder’s risk…
IBC proposes its voluntary code on credit scoring as the basis for future regulatory framework
September 30, 2011 by Canadian UnderwriterInsurance Bureau of Canada (IBC) is holding up its voluntary Code of Conduct for Insurers’ Use of Credit Information as the basis for some kind of regulatory framework on credit scoring.Such a regulatory framework would be an alternative to banning…
B.C. brokers maintain call for ban on credit scoring; alternative would be to regulate based on U.S. model
September 30, 2011 by Canadian UnderwriterThe Insurance Brokers Association of B.C. (IBABC) maintained its support of a ban against credit scoring in a submission to the Canadian Council of Insurance Regulators (CCIR).But if credit scoring is to be allowed, the regulatory framework should follow that…
Hurricane Ophelia churning towards Nova Scotia, Newfoundland
September 30, 2011 by Canadian UnderwriterHurricane Ophelia is tracking towards Nova Scotia and Newfoundland, likely passing the coast on Oct. 3 with 120 km-h winds, according to the Canadian Hurricane Centre.As of Sept. 30, Ophelia was a Category 3 hurricane, moving towards Bermuda. It is…