Segment
P&C Companies
Financial reports must be made more relevant to investors: PricewaterhouseCoopers
June 11, 2007 by Canadian UnderwriterCompanies in the financial sector need to provide more narrative information in their financial reporting, according to a new survey by PricewaterhouseCoopers (PwC).PwC recently published the results of its new survey on the reporting practices of the worlds largest companiesthe…
What’s New: In Brief (June 08, 2007)
June 8, 2007 by Canadian UnderwriterInsurance Brokers Association of Ontario (IBAO) vice president Peter Blodgett was in Peterborough on June 7 to kick off the launch of the Drive Safe Campaign, led by the Ontario Association of Chiefs of Police (OACP).Blodgett participated in the launch…
Demand for data loss liability coverage growing in Canada
June 8, 2007 by Canadian UnderwriterThe rapid increase of insider-related security breaches and of stolen computer equipment and data storage devices has unnerved the Canadian business community, creating a greater demand for data loss liability coverage products, says Aon Financial Services Group Canadian Advisory.Under lock…
Heads of financial institutions urge G8 to tackle climate change
June 8, 2007 by Canadian UnderwriterThe heads of some of Canadas financial institutions have signed a letter to the G8 that warns unless action against climate change is taken immediately, by 2040 the world could experience annual economic losses as high as US$1 trillion.In the…
Does Ontario’s Insurance Act thwart Bill 18 intentions?
June 8, 2007 by Canadian UnderwriterA conflict between the new regulations contained in Ontarios Bill 18, which deals with vicarious liability for vehicle leasing and rental companies, and s. 239 of the Insurance Act may be inadvertently thwarting the intent of Bill 18, according to…
Ontario wholesale broker pleads guilty in connection with US$8.5-million scam
June 7, 2007 by Canadian UnderwriterCanadian wholesale broker Ian Stuart-Smith has pled guilty to a felony wire fraud charge and now faces a maximum of 20 years in jail and a maximum fine of US$250,000 or twice the gross gain or loss resulting from the…
What’s New: In Brief (June 07, 2007)
June 7, 2007 by Canadian UnderwriterThe curtain has lifted on FOCUS Entertainment Insurance Brokers Inc., British Columbias first locally owned and operated insurance brokerage firm exclusively servicing the film industry. Launched by business partners David Hamilton, a senior film insurance broker in Western Canada, and…
Brokers supporting CCIR principles, but not with tools, regulators find
June 7, 2007 by Canadian UnderwriterAll or most of Canadas national and provincial broker associations support the principles contained in the industry regulators report, Managing Conflicts of Interest: A Consultation Paper on Enhancing and Harmonizing, but in many cases less than half of the brokers…
Insurance industry payrolls increase in the United States
June 6, 2007 by Canadian UnderwriterThere is a steady rise in insurance payrolls in the United States, according to an A.M. Best report, and there is some debate as to whether the expanding populations property and casualty claims in the wake of 2004-05 hurricanes might…
Attack class certification early
June 6, 2007 by Canadian UnderwriterInsurers need to decide whether to attack the certification of a class action lawsuit up front, or wait until after certification to respond to the claim, Roderick S.W. Winsor, a partner at Blaney McMurtry LLP, told delegates at the Insurance…
What’s New: In Brief (June 06, 2007)
June 6, 2007 by Canadian UnderwriterVolunteers at more than 70 CARSTAR collision repair centres across the country are getting ready to soap it up as part of an ongoing campaign to help the thousands of young Canadians battling cystic fibrosis (CF). The fourth annual CARSTAR…
What’s New: In Brief (June 06, 2007)
June 6, 2007 by Canadian UnderwriterThe Loyalist Insurance Group Limited (TSX: LOY) has announced that the trading in common shares of the company on the TSX Venture Exchange is scheduled to resume on June 7, 2007. Cease trade orders issued by the Ontario, Alberta and…