Segment
Risk Management
OSFI announces enhancements to its supervisory framework
March 3, 2011 by Canadian UnderwriterOSFI has announced enhancements to its supervisory framework, including specific reference to the core principles of the International Association of Insurance Supervisors (IAIS), as well as the inclusion of board responsibility for overseeing risk appetite and compensation.First introduced in 1999,…
Women represent one-quarter of senior officers in insurance/finance sector: Catalyst
March 3, 2011 by Canadian UnderwriterThe finance and insurance industry has the fourth-highest percentage of women in senior officer positions, according to a Catalyst Census of the Financial Post 500.Of the 75 firms in the finance and insurance industry listed on the Financial Post 500,…
CSIO appoints new board chairman, interim president
March 2, 2011 by Canadian UnderwriterThe Centre for the Study of Insurance Operations (CSIO) has appointed David Osmars as chairman of the board.In addition, Keith Eva has been named interim president of CSIO.Osmars is executive vice president and chief information officer of AXA Canada, where…
FM Global’s profits shrink in 2010, but surplus expands
March 1, 2011 by Canadian UnderwriterFM Global reported a net income of $687 million in 2010, marking a decrease from 2009’s net income of $840 million.The mutual insurer also reported a 16% increase in policyholder surplus to $7.3 billion in 2010 despite an uptick in…
Insurers should think beyond compliance and remediate fuel spills to pre-spill conditions: environmental lawyer
March 1, 2011 by Canadian UnderwriterInsurers should consider the multiple benefits of remediating fuel spills to pre-spill conditions, even if new Canadian regulatory guidelines for handling and cleaning fuel spill sites apply to contaminated and Brownfield sites and not to domestic fuel spills.John Tidball, environmental…
MarketPlace (March 01, 2011)
March 1, 2011 by Canadian UnderwriterCanadian Market Canada’s new rules prohibit banks from promoting non-authorized insurance on Web sites Canada’s Department of Finance has published its proposed rules for preventing banks from promoting non-authorized insurance products on its Web sites. The regulations are a follow-up…
Ontario Insurance Adjusters’ Association Professional Development & Claims Conference
March 1, 2011 by Canadian UnderwriterMore than 150 exhibitors from across Canada appeared at the Ontario Insurance Adjusters’ Association (OIAA)’s Professional Development & Claims Conference in Toronto on Feb. 9, 2011. The event featured a trade show and seminars covering a wide variety of timely…
Taking it to the Hill
March 1, 2011 by Canadian UnderwriterRIMS Canada Conference co-chairs Barbara Carscadden and Kim Hunton are encouraging risk managers to make connections at the September 2011 RIMS Canada Conference in Ottawa.
Greater Toronto Area Fellow of Distinction Award
March 1, 2011 by Canadian UnderwriterThe CIP Society, a division of The Insurance Institute of Canada, selected Paul Green, BA, FCIP, as the 2011 recipient of the Greater Toronto Area Fellow of Distinction Award. Green’s award was presented at The CIP Society’s Annual Fellows’ Reception…
Keeping it Clean
March 1, 2011 Amber D. Scott, Williams McGuire AML Inc., and Lucy Tran, Williams McGuire AML Inc.Money laundering in the Canadian P&C industry is not featured in Canada’s anti-terrorism legislation, and no one is in a hurry to invite more regulation, but insurers need to be wise to schemes to launder money through P&C insurance products.
ERM and Sustainability: Beyond Buzzwords
March 1, 2011 Tina Gardiner and Marie Endicott; The Regional Municipality of YorkSustainability is more than just a fad, and it should be incorporated into any solid enterprise risk management (ERM) framework.
Excise Tax Extends Its Reach
March 1, 2011 David Gambrill, EditorThe Canada Revenue Agency is taking a fresh approach to legislation applying to unlicensed insurance, creating a potentially costly nuisance for commercial brokers, clients and insurers involved in cross-border insurance deals.