Segment
Claims
New Marsh product covers cloud computing
June 6, 2012 by Canadian UnderwriterMarsh has introduced an insurance product to help companies manage the risks associated with cloud computing. Called CloudProtect, the endorsement protects against first-party losses stemming from a cloud service provider’s failure. The customized risk transfer solution was developed “in conjunction…
ICBC uses social media to solicit public input about rate-setting proposals
June 6, 2012 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) is getting social about gathering customer and stakeholder feedback on how it sets basic insurance coverage. Twitter was employed from 11:30 am to 2 pm on June 6 to allow the public to…
Tort judgment and costs in building fire can be apportioned between co-defendants
June 5, 2012 by Canadian UnderwriterAn Ontario court has ruled that a tort judgment and third-party costs arising from a building fire claim can be apportioned between a building owner and a property manager despite the fact the two parties defended the claim against them…
Desjardins to focus on Ontario, Montreal following positive 2012 Q1 results
June 5, 2012 by Canadian UnderwriterDesjardins General Insurance Group’s loss ratio of 63.6% in 2012 Q1 was 2.3% lower than the first three months of 2011, largely the result of oft-cited favourable weather conditions and continued improvement in Ontario’s auto insurance market. “With the Ontario…
IBC-commissioned research points to warmer temperatures, more wildfires and more intense storms in Canada by 2050
June 4, 2012 by Canadian UnderwriterCanada can expect to see warmer temperatures in the summer months by 2050, leading to an increase in wildfires, drought, water scarcity, lightning flash density and the risk of hailstorms. Parts of the country will see more intense winter storms,…
Canadian Hurricane Centre predicts average year for storms
June 4, 2012 by Canadian UnderwriterCanada’s hurricane forecasting agency says 2012 will see average storm conditions, with only “one or two” tropical cyclone events affecting the Atlantic provinces. The Canadian Hurricane Centre (CHC) predicts that storm frequency will reflect predictions of near normal hurricane activity…
Economical would prefer to demutualize through an IPO, if forthcoming regulations allow it
June 4, 2012 by Canadian UnderwriterEconomical has voiced its preference for an initial public offering (IPO) as part of its intention to demutualize, but no final decision will be made absent clear regulations. Currently, Canada does not have regulations allowing property and casualty mutual insurers…
Making a Noise
June 2, 2012 David Gambrill, Senior EditorIf small towns burn among our forests or if water seeps into our basements and politicians are not around to listen, does the catastrophe make a noise? Shortly before we went to press, the Insurance Bureau of Canada (IBC) released…
MarketPlace
June 2, 2012 by Canadian UnderwriterCANADIAN MARKET Applied Systems acquires Compu-Quote Broker management software provider Applied Systems Inc. has acquired Compu-Quote Inc., a Canadian provider of comparative insurance rating solutions. Applied Systems announced the sale on June 5 after closing the deal on June 1.…
The Wind Whisperer
June 2, 2012 David Gambrill, EditorDr. Gregory Kopp, a professor of civil engineering at Western University, is a central figure in researching wind damage in aid of building safer homes.
Taking Cover
June 2, 2012 Angela Stelmakowich, EditorHigh-profile explosions at B.C. sawmills have seen some insurers bail out of the beleaguered market segment, although others seem poised to take advantage.
Providing the Policy
June 2, 2012 Gregory D. Hardy, Chair, Patterson Law Insurance Group, Patterson Law (Halifax, Nova Scotia), and SaIt seems like a basic Insurance 101 principle, but the insurance provider is obligated to provide the policy to the insured.