News
Policy Works and The Dominion to deliver integrated commercial lines data exchange solution by the fall of 2012
October 10, 2011 by Canadian UnderwriterPolicy Works Inc. has entered into an agreement with The Dominion of Canada General Insurance Company (The Dominion) to deliver a commercial lines data exchange solution for small commercial business, integrating Policy Works’ Commercial Management System (CMS) and The Dominion’s…
Demutualization should trigger consolidation in Canadian P&C market: GMP Securities analyst
October 7, 2011 by Canadian UnderwriterDemutualization should bring more consolidation into the Canadian property and casualty marketplace, according to a GMP Securities analysis issued by Stephen Boland.“We anticipate that the larger, mutual insurers will continue to work with the Department of Finance to demutualize in…
Ontario arbitrator finds injured trucker eligible for AB, despite his mistaken election of WSIB benefits in confusion following tribunal decision
October 7, 2011 by Canadian UnderwriterA trucker seriously injured in an accident is entitled to accident benefits, even though he elected to receive Workplace Safety and Insurance Board (WSIB) benefits in confusion after the Workplace Safety and Insurance Appeals Tribunal (WSIAT) barred most of his…
IBC congratulates Ontario Liberals on election victory
October 7, 2011 by Canadian UnderwriterInsurance Bureau of Canada (IBC) has congratulated Liberal Party of Ontario Premier-elect Dalton McGuinty and all new and re-elected MPPs for their election victories.Led by McGuinty, the Liberals won a minority government in the province’s Oct. 6 elections. Heading into…
ICBC publishes Top 10 excuses given for distracted driving
October 7, 2011 by Canadian UnderwriterThe Insurance Corporation of B.C. (ICBC) has posted online a list of the Top 10 excuses given to police by drivers busted for using a hand-held device while driving. During a month-long crackdown on distracted driving, B.C. law enforcement officers…
Western Financial acquires Border Bannatyne Insurance
October 7, 2011 by Canadian UnderwriterWestern Financial Group has acquired Saskatchewan-based Border Bannatyne Insurance.The Estevan, Saskatchewan-based brokerage has been in operation since 1920 and will now operate as a Western Financial Group office with the same local staff. “This is another great addition to our…
Canadian manufacturers still reluctant to branch out into emerging markets as a way to mitigate supply chain risk
October 6, 2011 by Canadian UnderwriterCanadian manufacturers are still reluctant to branch out into emerging markets as a way to mitigate their supplier interruption risks, Robert Forbes of EDC told a Toronto Insurance Conference (TIC) seminar in Toronto on Supply Chain Risk in a Global…
Solvency II’s precise measure of solvency prone to volatility: Guy Carpenter
October 6, 2011 by Canadian UnderwriterSolvency II’s more precise measure of solvency will be more prone to volatility, Guy Carpenter reports. The widespread use of the Solvency II standard model and internal capital models, in conjunction with market-consistent accounting of assets and liabilities, could contribute…
Supply chain and business interruption losses due to earthquake in Japan may end up on the low end of the range
October 6, 2011 by Canadian UnderwriterInsured supply chain interruption (SCI) losses and contingent business interruption (CBI) losses arising out of the April 2011 earthquake in Japan seem likely to be much less than what they initially appeared.Paul Cutbush, Canadian property treaty line manager for Swiss…
IBAO and OSAID caution students not to drink and drive over holiday weekend
October 6, 2011 by Canadian UnderwriterInsurance Brokers Association of Ontario (IBAO) has partnered with the Ontario Students Against Impaired Driving (OSAID) to remind Ontario’s students travelling over the Thanksgiving holiday to exercise caution and to not drink and drive.“It’s an exciting time of year, as…
IBC responds to ‘Nor’easter’ in Maritime provinces, eastern Quebec
October 6, 2011 by Canadian UnderwriterInsurance Bureau of Canada (IBC) is reminding homeowners in the Maritimes to contact an insurance representative immediately if their properties or belongings suffered damage during a storm that hit the area on Oct. 5.On Oct. 5, a ‘Nor’easter’ moved over…
Ontario court upholds insurer’s motion to try tort and AB actions related to the same vehicle accident together
October 5, 2011 by Canadian UnderwriterThe Ontario Superior Court has upheld an insurer’s request to have a plaintiff’s tort action and accident benefits action – both of which relate to injuries allegedly sustained in a single motor vehicle accident – tried together.The plaintiff appealed the…