Segment
Risk Management
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.
Engaging Risk Professionals
March 1, 2011 Tino Brambilla, RIMS Canada CouncilRIMS Canada Council is championing a number of new offerings to stay engaged with its risk management members in 2011.
Multinational Insurance: The Case for Non-owned Broker Networks
March 1, 2011 T. Neil Morrison, HUB International, HKMB Ontario; Bruce Basso, Worldwide Broker Network Ltd.Non-owned broker networks give international risk managers both a domestic coordinating broker and oversight over the foreign placements of their global program.
Creative Captives
March 1, 2011 Trevor Mapplebeck and Rob Landolt, Marsh Canada Ltd.When considering whether to retain or remove risks from their corporate balance sheets, companies often overlook the option of creating captive insurance companies.
Framing the New Frontier
March 1, 2011 J.M. Reynolds, Social Media ConsultantOpportunities arising from social media do not come without risks, and a company would be wise to have a social media policy in place.
The Economical posts 167% increase in profit in 2010
February 28, 2011 by Canadian UnderwriterThe Economical Insurance Group reported a 167% increase in net income in 2010, growing to $64.4 million from 2009’s net income of $24.1 million. The insurer reduced its combined ratio for the year to 103.3% from 107.9% in 2009. It…
Axa, Ogilvy Renault identify risks for directors of insolvent companies
February 28, 2011 by Canadian UnderwriterDirectors of insolvent or bankrupt corporations may be held liable for a multitude of sums whose payment to the government is required by law, including non-remitted sales tax and unpaid deductions on employee wages, cautions Ogilvy Renault and Axa Insurance…
Ontario Divisional Court allows IMAX shareholder certification suit to proceed to trial
February 25, 2011 by Canadian UnderwriterA motion for leave to appeal Silver v. IMAX Corporation to the Ontario Divisional Court has been denied. IMAX is the first case to consider leave to proceed and class certification tests set forth in Bill 198.A lower court decision…