News
Maurice Tulloch appointed as new president and CEO of Aviva Canada
November 26, 2009 by Canadian UnderwriterMaurice Tulloch has been appointed to the role of president and CEO of Aviva Canada, effective Jan. 1, 2010. He will replace Robin Spencer, current president and CEO, who is returning to the United Kingdom to assume the role of…
Report highlights emerging insurance issues arising from climate change in Canada’s North
November 26, 2009 by Canadian UnderwriterPollution liability arising from permafrost degradation, climate change disclosure and risks associated with new shipping lanes are among the emerging insurance implications of climate change in Canada’s North, according to a report by the National Round Table on the Environment…
OSFI advocates appropriate use of risk models
November 26, 2009 by Canadian UnderwriterAppropriate use of modeling in the wake of the 2008 financial crisis will be a focus for the Office of the Superintendent of Financial Institutions (OSFI) in the coming monthsOSFI superintendent Julie Dickson focused on the use of modeling in…
Insurer’s subrogation right under Standard Mortgage Clause must establish no liability to the insured: Ontario court
November 26, 2009 by Canadian UnderwriterThe subrogation right of an insurer under the Standard Mortgage Clause in an insurance policy cannot be exercised simply upon the insurer paying the loss award to a mortgagee without the insurer also establishing — as opposed to merely asserting…
Ontario insurer not obliged to pay for assessments that it did not pre-approve: FSCO
November 25, 2009 by Canadian UnderwriterAn Ontario woman who unilaterally sought Cdn$18,073 worth of medical assessments is not entitled to recoup the money from her insurer, since she did not obtain her insurer’s approval in advance of the assessments, the Financial Services Commission of Ontario…
Ironshore launches Canadian operations
November 25, 2009 by Canadian UnderwriterIronshore Inc. will expand its London platform to serve specialty insurance lines markets in Canada.Michael C. Wills has been appointed CEO of Ironshore Canada Limited.The company will underwrite specialty insurance coverages across the entire range of Ironshore business lines, including…
What’s New: In Brief (November 25, 2009)
November 25, 2009 by Canadian UnderwriterThe most anxious winter drivers are in Manitoba and Saskatchewan, according to the TD Insurance Winter Driving Poll.Across Canada, 52% say they are anxious about winter driving while in Manitoba and Saskatchewan, anxiety plagues 63% of drivers during the winter.…
What’s New: In Brief (November 25, 2009)
November 25, 2009 by Canadian UnderwriterA.M. Best Co. has upgraded the financial strength ratings (FSR) to A- (Excellent) from B++ (Good) of SGI Canada Insurance Services Limited (SCISL), its subsidiary Coachman Insurance Company in Ontario and SCISL’s operating parent SGI Canada. The outlook on all…
A.M. Best downgrades Kingsway Financial and its subsidiaries
November 24, 2009 by Canadian UnderwriterA.M. Best Co. has downgraded the issuer credit rating and senior debt rating to “ccc” from “b-“ of Kingsway Financial Services Inc. (KFS) and Kingsway America Inc. (KAI).In addition, A.M. Best has downgraded the financial strength rating (FSR) to B-…
RMS unveils new ITV indexing tool, dubbed ‘iClarify’
November 24, 2009 by Canadian UnderwriterRMS officially unveiled its new insurance-to-value (ITV) indexing technology at the MarS Innovation Centre in Toronto on Nov. 23.Dubbed ‘iClarify,’ the RMS indexing tool has been developed to help resolve the ITV issue. Currently, Canadian insurance companies and brokers do…
Business Intelligence can improve profitability
November 24, 2009 by Canadian UnderwriterAt least a 1% business improvement is possible simply by applying Business Intelligence (BI), according to Mike Gilliland of AutoHouse Technologies. “Business Intelligence helps decision makers make more informed decisions and supplies users with critical business information on their customers…
What’s New: In Brief (November 24, 2009)
November 24, 2009 by Canadian UnderwriterMuscowpetung First Nation won SGI’s 2009 Seatbelt Challenge and will receive up to $50,000 for traffic safety improvements in its community.The 2009 Aboriginal Seatbelt Challenge in the File Hills Qu’Appelle Tribal Council pitted eight First Nations communities against one another…