News

The Canadian Council of Insurance Regulators has published its three-year planning objectives for 2008-2011, among them it listed its strategic initiative including several components. The first component involves facilitating informed consumer decision-making by: developing and facilitating the implementation of consumer…

By taking the six digits of a postal code into consideration, rather than the first three digits, underwriters can determine risk levels of a particular area on a far greater detail, including whether or not a property is located in…

Aviva Canada has changed the structure of its senior executive team. The following changes will come into effect on Feb. 4, 2008: Ross Betteridge, executive vice president and chief operating officer, corporate partnerships and emerging markets, will continue in his…

The Co-operators has expanded its membership, welcoming two new members the Canadian Worker Co-operative Federation (CWCF) and Fdration des coopratives qubcoises en milieu scolaire/COOPSCO.The new members bring to 39 the number of co-operatives, credit unions and like-minded organizations that make…

Faced with a high volume of policy requests and underwriting information, AXA Canada is turning towards an XML-based platform to automate its data systems, according to a report by ITWorldCanada.com.The insurer has made the change as Canada’s insurance industry standards…

Establishing a global fair value method for valuing insurance contracts will help to determine how fair value should be defined for insurance reserves, according to a special report by Fitch Ratings on global accounting and financial reporting. Fitch notes the…

The Canadian Council of Insurance Regulators (CCIR) is consulting the insurance industry on the incidental selling of insurance (ISI).“As a result of potential licensing and consumer issues stemming from the sale of insurance incidental to some other core business activity,…

The extreme sports market is evolving, with an increasing number of people participating in extreme sports and an expanding number of sports being added to the category, according Lloyd’s. “The demand for our products has been growing a clear indication…

Keal Technology and ING Insurance Company of Canada announced a “commercial integration relationship,” in which Keal’s commercial management system (CMS), comXP, will exchange data with the ING Insurance broker application SaversCL.Using CSIO XML standards, data can be exchanged between broker…

Insurance Bureau of Canada (IBC) is calling on Canadian governments to review critical infrastructure to ensure the country is better able to deal with severe weather events in the future.IBC president and CEO Mark Yakabuski has called on all governments…

A United States retreat into political isolationism, tensions in the Middle East and the growing threat of another terrorist attack are the major risks threatening the global financial market in 2008, according to the results of a study posted on…

Kingsway Financial Services Inc. has appointed Shelly Gobin as vice president and CFO.Gobin has been with Kingsway for more than 10 years; during that time, she has held increasingly progressive executive roles at Kingsway. In addition, she has been significantly…