Segment
P&C Companies
Insufficient risk management barrier to insurance fraud detection: IAIS
May 23, 2007 by Canadian UnderwriterBarriers to addressing insurance fraud include insufficient risk management, commercial interests and public attitudes about fraud, according to findings in Report on the survey on preventing, detecting and remedying fraud in insurance, issued by the International Association of Insurance Supervisors…
PPG Canada announces change of director at Refinish Canada
May 23, 2007 by Canadian UnderwriterPPG Canada Inc. has announced that Lee Smith, director of Refinish Canada, will be moving to Strongsville, Ohio, where he will start in his new position as director of strategic growth and acquisition for PPG Automotive Refinish, North America. Smith…
IBC appoints Allstate’s Michael Donoghue as chair of its board
May 23, 2007 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) has appointed Michael J. Donoghue, the president and CEO of the Allstate Insurance Company of Canada, as the chair of its board of directors.Rowan Saunders, the president and CEO of Royal & SunAlliance Canada,…
Timmins, Ontario to open Collision Reporting Centre in July 2007
May 23, 2007 by Canadian UnderwriterTimmins, Ontario will have a Collision Reporting Centre by the end of July 2007.Located in northeastern Ontario, the City of Timmins has a population of about 44,000 people.Accident Support Services Ltd., which facilitates collision reporting to the insurance industry, has…
What’s New: In Brief (May 22, 2007)
May 22, 2007 by Canadian UnderwriterRisk Management Solutions (RMS) has designed a trigger mechanism and performed the risk analysis for a Swiss Re securitization of typhoon risk in Japan. A Cayman Islands special purpose vehicle, Akibare Ltd. has provided collateralized coverage of $120 million over…
NOAA predicting above-average 2007 hurricane season
May 22, 2007 by Canadian UnderwriterThere is a 75% chance the 2007 hurricane season will be above normal, according to the NOAA [National Oceanic & Atmospheric Administration].An average season is one in which there are 11 storms, six of which become hurricanes and two of…
What’s New: In Brief (May 22, 2007)
May 22, 2007 by Canadian UnderwriterMarsh Inc. announced the launch of a dedicated renewable energy team, and named Susan K. Stokes and Tom Sexton as its co-leaders. The team will work closely with the firms global marine and energy practice and the power and utilities…
U.K. insurance market must modernize, Lloyd’s CEO says
May 22, 2007 by Canadian UnderwriterLondon market businesses must continue to modernize and improve customer service levels, Lloyds CEO Richard Ward recently told a meeting of senior market figures.In a speech at the London Insurance Day Summit, Ward said that modernization was vital to the…
IBAO sponsors ads for responsible driving over the May long weekend
May 18, 2007 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) is sponsoring radio messages in 23 cities and on the airways of 32 radio stations across Ontario during the holiday long weekend in May.The insurance brokers have purchased these radio spots in an…
B.C. caps vicarious liability for vehicle rental companies
May 18, 2007 by Canadian UnderwriterThe B.C. government has capped at Cdn$1 million the vicarious liability car rental companies and by extension, their insurers face for accidents and damages caused by customers who rent vehicles.Currently, car rental companies face unlimited liability for accidents and damages…
What’s New: In Brief (May 18, 2007)
May 18, 2007 by Canadian UnderwriterThe Autorit des marches financiers (AMF) has imposed new registration conditions on the brokerage firm Centre de courtage Assep inc. The firm is required to replace its officer in charge, Martin Beaul, and to provide AMF, within 5 days after…
What’s New: In Brief (May 18, 2007)
May 18, 2007 by Canadian UnderwriterSGI has pledged an annual donation of $200,000 to the Regina QuAppelle Health Region (RQHR) for the Sleep Disorders Program at the Regina General Hospital. The program serves to diagnose and treat patients with sleep disorders — the most common…