News
Experts stress need for climate change adaptation policies
April 11, 2007 by Canadian UnderwriterA panel of senior Canadian climate change experts, chaired by the Canadian Foundation for Climate and Atmospheric Sciencess Dr. Gordon McBean, called on the federal government to increase funding for research on the impact of global warming.We need to factor…
What’s New: In Brief (April 11, 2007)
April 11, 2007 by Canadian UnderwriterRandy Carroll has been appointed CEO of the Insurance Brokers Association of Ontario (IBAO). With more than 20 years of experience in insurance brokerage operations, Carroll has held the position of chief operating officer of the IBAO since April 2005.…
ICBC shows its 2010 Olympic spirit, backing new license plates
April 11, 2007 by Canadian UnderwriterICBC is showing its Olympic spirit by joining a partnership to produce special, one-of-a-kind 2010 Winter Games Licence Plates.The plates will be available to B.C. drivers for purchase starting Apr. 16.“British Columbians are excited and proud to be hosting the…
What’s New: In Brief (April 11, 2007)
April 11, 2007 by Canadian UnderwriterAllegient Systems, a software and service provider, has launched its Independent Adjusters ASP Bill Review (IA ASP) program, promoted as the industrys only Web-based end-to-end bill review solution designed specifically for independent adjusters.Available for immediate use, IA ASP expands the…
AIG launches teen driver GPS pilot project
April 10, 2007 by Canadian UnderwriterAIG Auto Insurance announced a pilot project for auto policyholders with teen drivers that would allow parents to equip their vehicles with a GPS device.AIG Teen GPS Program allows parents to determine the exact location of the teens car via…
Swiss Re issues securities covering earthquakes in Canada
April 10, 2007 by Canadian UnderwriterSwiss Re has structured and placed US$150 million [approximately Cdn$172 million] of securities covering flood and earthquake catastrophic events in Canada, Great Britain, and the United States on behalf of Allianz Global Corporate & Specialty AG.The multiperil issuance is part…
Threat of energy expropriation in Latin America casues spike in political risk
April 10, 2007 by Canadian UnderwriterPolitical risk trends in emerging markets are taking on a troublesome retro feel back to the 70s, in a sense led by energy-sector expropriation moves in South American countries, A.M. Best has reported.The A.M. Best analysis cites the findings of…
Alberta lawyers launch constitional challenge against auto injury cap
April 10, 2007 by Canadian UnderwriterThe Alberta Civil Trial Lawyers Association (ACTLA) has officially started its Charter challenge of the Alberta governments automobile insurance minor injury policy in the Court of Queens Bench (Calgary) before Mr. Justice Neil Wittmann.ACTLA President Arthur Wilson, Q.C. says in…
Extreme weather events cost rising by 2% a year since ’70s
April 9, 2007 by Canadian UnderwriterThe financial costs of extreme weather events have been increasing by an average of two per cent a year since the 1970s, Dr. Robert Muir-Wood, chief research officer of Risk Management Solutions (RMS), said in response to the chapter, The…
What’s New: In Brief (April 09, 2007)
April 9, 2007 by Canadian UnderwriterThe Loyalist Insurance Group Limited (TSX: LOY) announced that it has filed revised financial statements for the year of 2005, as well as interim periods throughout 2006. The annual and interim management discussion and analysis (MD&A) have been revised to:…
Insurance industry concerned about data management
April 9, 2007 by Canadian UnderwriterThere are growing concerns about the governance and management of data the insurance industry is required to maintain, particularly in light of enhanced financial reporting requirements.The concerns were expressed by senior insurance executives attending the Actuarial Transformation Roundtable, organized by…
Lloyd’s observes dramatic increase in UK cybercrime
April 9, 2007 by Canadian UnderwriterCybercrime is on the increase in the United Kingdom and elsewhere, and risk managers need to be better prepared to deal with cases of Internet-crime including Internet fraud, junk email or ‘spam’, viruses and hacking, according to Lloyds of London.In…