News

SGI provided $50,000 in funding to the RCMP to outfit two vehicles with Automatic License Plate Recognition (ALPR) systems. The ALPR equipment checks for unregistered or expired plates, stolen vehicles, and whether the vehicle owner was suspended or is wanted…

The Risk and Insurance Management Society, Inc. redesigned its site to better represent its commitment to members and the risk management community. “The dramatically redesigned site, created by RIMS’ in-house Web team, represents RIMS’ commitment to the growing needs of…

The scarce supply, heightened demand and increasing age and cost of electrical transformers poses a catastrophic risk, warns Lloyd’s.Transformers are the links between the generation, distribution and transmission networks within an electrical grid. According to Lloyds.com, there are less than…

Sedgwick Claims Management Services, Inc. expanded its professional liability business to include an errors and omissions claims management product for professional service organizations. The E&O specialists manage risks, resolve claims, and administers settlements for professional service providers facing allegations of…

Manitoba Public Insurance has filed a lawsuit against a pair of teenage “chronic” car thieves, dubbed ‘Bonnie and Clyde’ by some local justice officials and media.The suit is a $53,000 statement of claim against a 16-year-old girl and an 18-year-old…

Fix Auto Ontario, Alberta and Atlantic Canada has announced a series of appointments within the organization.These appointments include:• Athena Hilts, managing director;• Tony Desantis; senior insurance account executive; • Kelly Polito, insurance account executive for Fix Auto Alberta;• Peter Polito,…

Canadian offshore petroleum boards have not increased their liability limits for third party damages or clean-up in the event of a spill for 24 years, and as such should consider bringing them in-step with “current economic realities,” according to a…

The Canadian Radio and Telecommunications Commission (CRTC) decided its unsolicited telemarketing rules apply equally to insurance agents and brokers and investment and financial advisors. The commission’s Unsolicited Telecommunications Rules include the National Do Not Call List and the Automatic Dialing-Announcing…

Fitch estimates that U.S. property and casualty industry reserves at year-end 2009 are between 1% deficient and 2% redundant.In its report, Are Redundancies Exhausted?, Fitch noted that the hard market years of the mid-2000s continued to prove more profitable than…

The Financial Services Commission of Ontario (FSCO) released an updated guideline with respect to Health Claims for Auto Insurance (HCAI) to reflect the new Statutory Accident Benefits Schedule effective Sept. 1, 2010. The Health Claims for Auto Insurance September 2010…

The Autorité des marches financiers (AMF) has extended the transition period for the sale of replacement guarantees by two months to Sept. 30, 2010.As a result, the date set for full and final implementation of the new rules governing replacement…

Canadians appear to be very wary of using their mobile devices for making online purchases and conducting financial transactions, according to KPMG.In its report, Consumers & Convergence IV survey, KPMG compared the habits and concerns around the world regarding the…