News
Kerby-Reid launches mobile app for underwriters
September 29, 2011 by Canadian UnderwriterKerby-Reid has launched a mobile app to help insurance professionals calculate pro-rata and short-term premiums.The app – the ‘Kerby-Reid Pro-rata Insurance Calculator’ – is available for Blackberry and iPhone/iPad platforms, is designed to help underwriters, agents and brokers calculate earned and…
Insurers leaving “hundreds of millions” on the table by not pursuing subrogation claims
September 29, 2011 by Canadian UnderwriterInsurers need to consider potential indemnity and not just costs in deciding whether to pursue subrogation claims, according to panelists at the National Insurance Conference of Canada (NICC).Subrogation is a term used when an insurer tries to recover costs it…
Climate change could cost Canadians up to $44 billion per year as of 2050
September 29, 2011 by Canadian UnderwriterClimate change could cost Canadians economic losses of about $5 billion per year as of 2020, and between $21 billion and $44 billion per year by 2050, according to the National Round Table on the Environment and the Economy (NRTEE).The…
Canadian insurers failing to price earthquake coverage adequately
September 28, 2011 by Canadian UnderwriterThe Canadian insurance industry is failing to price quake coverage properly, said Alister Campbell, CEO of Zurich Canada.Campbell spoke during the panel discussion, ‘Canadian Earthquakes: Preparing for the Big One,’ on Sept. 27 at the National Insurance Conference of Canada…
Expect to see low interest rate environment for a long time: global economist
September 28, 2011 by Canadian UnderwriterInsurers can expect to see interest rates remain low for a long time, global economist Josh Feinman said at the National Insurance Conference of Canada (NICC) on Sept. 27.“There’s no sugar-coating it, we live in dangerous times,” said Feinman, global…
Class action lawsuit certifications on the rise
September 28, 2011 by Canadian UnderwriterCertification of class action lawsuits is on the increase, raising tactical questions about whether defendant insurers should even bother fighting certification, or simply fight the good fight at trial. Laura Cooper, partner at Fasken Martineau, discussed class action statistics and…
Government intervention in insurance placing financial burden on taxpayers
September 28, 2011 by Canadian UnderwriterGovernment intervention in the insurance market is placing the financial burden of natural disasters on taxpayers, according to a Lloyd’s of London report. “The private insurance market has a crucial role to play in helping communities and economies recover from…
Aviva launches annual Community Fund competition
September 27, 2011 by Canadian UnderwriterThe Aviva Community Fund competition has returned for the third year in a row. This year’s fund was officially launched on Sept. 26 in North Bay, Ont. Canadians can go to to submit ideas that will have a positive effect…
Dogs nose out fire causes
September 27, 2011 by Canadian UnderwriterSpecially trained dogs are able to sniff out the causes of fires and can extend the capability of an investigator. Magic and his handler Captain Charles LeBlanc, of the Moncton Fire Department, recently completed the five week canine-accelerant detection school…
IBAC appoints new vice presidents to the board
September 27, 2011 by Canadian UnderwriterKen Myers has been appointed vice president to the executive committee of the Insurance Brokers Association of Canada’s (IBAC) board of directors. Myers, an account manager with Stanhope Simpson Insurance (Halifax), is a past president and retiring chair with the…
Photographs selected for brokers’ calendar
September 27, 2011 by Canadian UnderwriterThirteen photographs have been selected for SGI Canada’s 2012 “It’s a good life” brokers’ calendar. The cross-Canada amateur photography contest ran in June and July and asked for entries capturing how wonderful life is. There were 421 photos submitted by…
P&C industry on an “unsustainable” financial path: NICC reinsurance panel
September 27, 2011 by Canadian UnderwriterThe global property and casualty insurance industry faces an unsustainable financial future if it does not soon consider rate increases, a panel of reinsurers told delegates attending the National Insurance Conference of Canada (NICC) in Vancouver on Sept. 26.The panelists…