Sedgwick Claims Management Services, Inc. (Sedgwick CMS) has launched an advanced user-managed alert feature, which will notify clients of changes in the status of claims in the JURIS claims management information system, a release reports. The new feature is included…
***CORRECTION*** The following item corrects information that appeared in a version of this previously published story. We apologize for the error. Standard & Poors Rating Services increased The Guarantee Co. of North Americas long-term counterparty credit and financial strength ratings…
A foreign entity is not allowed to insure in Canada a risk as per the Insurance Companies Act (ICA), unless the Superintendent authorizes it to do so and the risk is within a class specified by the order, an advisory…
Ontario insurers need to raise their auto rates in order to make up for escalating loss ratios, and this could [and should] happen shortly after Ontarios election is over on Oct. 10, according to an actuary presenting on a panel…
Individual insurer’s probable maximum loss (PML) estimates for insured earthquake damages in Canada are about four times lower than those calculated by an Insurance Bureau of Canada (IBC) working group, a panelist told the National Insurance Conference of Canada in…
Optimum General Inc. has become a Full Partner of the Broker Identity Program (BIP) for 2007, the Insurance Brokers Association of Canada (IBAC) announced.By investing in the program, Optimum supports the message being delivered every day to consumers, legislators, government…
Standard & Poors Rating Services increased The Guarantee Co. of North Americas long-term counterparty credit and financial strength ratings from an A- to a BBB+. According to Standard and Poors rating report, the ratings are reflective of the companys strong…
Insurers will have to do much more realistic, believable capital stress testing in the wake of the damage done to Canadas asset-based commercial paper market, Canadas federal insurance regulator says. Canadas Superintendent of Financial Institutions, Julie Dickson, talked about the…
A capital adequacy model similar to Solvency II will be implemented in Quebec and Canada by 2011-2012, delegates of the National Insurance Conference of Canada in Montreal were told during the regulatory panel discussion.Jean St-Gelais, president and CEO of Quebecs…
Scientific evidence of the causes of global warming may reach a point of sophistication that supports allegations of liability for individuals, entities, industries and nations responsible for emissions of Green House Gases (GHG), Aon warns.In its report, Will Insurers be…
McLarens Canada announced the acquisition of Vanler Insurance Adjusters Ltd. on Sept. 27. Founded in 1993 in Toronto by Dennis Schembri, president, Vanler Insurance Adjusters Ltd. will become an integral part of the McLarens management team, according to a release.…
The Ontario Court of Appeal has sent a warning shot across the bow to insurers: notifying an insured that an OPCF 28A Excluded Driver Endorsement has been issued is not sufficient; a copy of the actual endorsement must be sent…