News
Insurers showing a poor spread of risk premium, broker tells CIP Symposium
April 30, 2008 by Canadian UnderwriterThe contention that “strong” premium growth is a feature of the current soft market is laughable because the industry is currently seeing a poor spread of risk premium, Fred De Francesco of Fairview Insurance Brokers told the CIP Society’s Symposium…
What’s New: In Brief (April 30, 2008)
April 30, 2008 by Canadian UnderwriterSpencer Educational Foundation Inc. has announced at the Risk and Insurance Management Society (RIMS) 2008 Annual Conference & Exhibition that it intends to award more than US$266,000 to select undergraduate, graduate and doctoral students in the risk management and insurance…
Price tag for collision repair shops to limit VOC compounds estimated at Cdn$322 million
April 30, 2008 by Canadian UnderwriterEnvironment Canada has released new regulations for limiting concentrations of Volatile Organic Compounds (VOC) in the use of automotive refinishing products such as paint.The proposed VOC concentration limits for automotive refinishing products are anticipated to result in a cumulative reduction…
No such thing as ‘incidental’ insurance sale, IBAC tells regulators
April 30, 2008 by Canadian UnderwriterThe standards of licensing and supervision of insurance sellers should be determined not by their “method of sale,” but by the substantive attributes of the product sold, the Insurance Brokers Association of Canada (IBAC) has told a working group of…
RIMS bestows Canadian with lifetime achievement award
April 29, 2008 by Canadian UnderwriterDiane Wolfson, a member of the Quebec chapter of the Risk and Insurance Management Society (RIMS) was awarded the Harry and Dorothy Goodell Award during the RIMS 2008 General Session in San Diego, California. The prestigious award was likened to…
‘Human’ reaction to crisis could save corporate reputation
April 29, 2008 by Canadian UnderwriterWhen faced with a crisis threatening a company’s reputation, senior executives that respond immediately with compassion, empathy and humility may speed the recovery from the loss and improve the organization’s capital value in the long run.Bruce Abrams of AIG, cited…
Ontario Bar Association honours insurance lawyers Geoffrey Adair and John Evans
April 29, 2008 by Canadian UnderwriterThe Ontario Bar Association (OBA) has bestowed its 2008 Award for Excellence in Insurance Law to Geoffrey D. Adair of Adair Morse LLP and John F. Evans of Evans Sweeny Bordin LLP.The OBA award recognizes members for exceptional achievements, distinguished…
Credit union employees granted intervenor status in insurers’ appeal against credit union
April 29, 2008 by Canadian UnderwriterThe Ontario Court of Appeal is currently picking its way through a difficult fraud case that has pitted a credit union suffering substantial losses against its two insurers.The Iroquois Falls Community Credit Union, represented at the appeal court by its…
Expanding companies opening themselves up to potential for fraud: Kroll
April 28, 2008 by Canadian UnderwriterCompanies expanding globally, outsourcing their business operations and adding new IT systems are making themselves more vulnerable to fraud, according to a report from Kroll, a risk consulting company.The latest Kroll Global Fraud Report highlights the growing danger of supply…
Small companies at greater risk of experiencing foreign losses than larger companies
April 28, 2008 by Canadian UnderwriterSmall to mid-size companies are more likely to experience a loss to corporate assets outside the United States or Canada than larger companies, according to a Chubb Group of Insurance Companies (NYSE: CB) 2008 Multinational Risk Survey. “Compared to companies…
What’s New: In Brief (April 28, 2008)
April 28, 2008 by Canadian UnderwriterIntegro Ltd., an international insurance brokerage and risk management firm, is sponsoring the MSA/Baron Outlook Reports for 2008 for risk managers across Canada. The report will be distributed to 150 Ontario Risk & Insurance Management Society (RIMS) and RIMS Canada…
B.C. brokers’ general continuing education program undergoes facelift
April 28, 2008 by Canadian UnderwriterThe Insurance Council of British Columbia, which regulates the province’s brokers, has published new guidelines for its General Continuing Education (C/E) Program, including a focus on strictly insurance-related aspects of the business.As of June 1, 2008, the General C/E Program…