News

Neither texting bans nor bans on hand-held phone use while driving have actually reduced crash risk, according to a report published online by the U.S. Highway Loss Data Institute (HLDI), a division of the Insurance Institute for Highway Safety.Non-compliance is…

The Alberta oil sands operations have an environmental footprint, but the alternative of getting oil from other countries carries greater environmental and political risks, David Percy, the chair in energy law practice at the University of Alberta’s Law School, told…

Record high gold bullion prices mean firms involved in metal trading, storage and transit are at risk of being under-insured against physical damage or loss, Marsh Canada Ltd. says.In response, Marsh has developed a new metals insurance product that will…

Round 2 of the Aviva Community Fund competition is officially up for grabs, with $1 million going to a project designed to improve a local Canadian community.Starting today, Canadians can submit ideas on AvivaCommunityFund.org that will have a positive effect…

There is no such thing as 100% security, only degrees of insecurity, Salman Rushdie, a controversial and famed author, told delegates attending the 2010 RIMS Canada Conference in Edmonton. “Once a person accepts that fact, they are free,” he said.Rushdie’s…

Ontario’s broker regulator says it has received a significant increase in the number of phone calls from brokers who have been recent victims of cheque fraud. “Similar to the instances that occurred in the past, the broker’s accounts payable cheque…

People who recently passed their exams to obtain their broker licences may have been too quick off the mark to start practising as brokers, Ontario’s broker regulator says.“It has come to our attention that individuals who have recently passed their…

The Risk and Insurance Management Society, Ontario Chapter (ORIMS) has presented the Donald M. Stuart Award to Tina Gardiner, manager of insurance and risk at the Regional Municipality of York.Presented annually since 1979, the Donald M. Stuart Award acknowledges Canadians…

Munich Re recorded a total of 725 weather-related natural hazard events between January and September 2010, causing insured losses worth $18 billion.This is “the second-highest figure recorded for the first nine months of the year since 1980,” Munich Re observed…

Compu-Quote announced the launch of a quoting module for individually rated commercial automobile (IRCA).As of October, the service will be available via Compu-Quote’s AutoRater to brokers with rates for Aviva Canada, AXA Insurance, Intact Insurance and The Economical Insurance Group.The…

Chesterfield Canada launched its sabotage and terrorism product to the Canadian market.The product expands the scope of the terrorism peril, which is traditionally defined as an act of a foreign government or organization. Under Chesterfield’s product, the peril would also…

Ontario’s Court of Appeal has ruled an ‘outside directorship liability’ (ODL) insurer had a duty to defend two lawyers and pay all related costs, despite the fact that the primary D&O policy also provided for a duty to pay for…