Segment
Risk Management
Stability control, blind spot sensors, fingerprint scans among key features of new vehicle technology
January 28, 2008 by Canadian UnderwriterAs Canadian auto insurers face an increasing frequency of claims, auto manufacturers are poised to introduce new technology as early as 2010 that would make cars significantly more expensive to fix, though less likely to crash.Greg Horn of Mitchell International…
What’s New: In Brief (January 28, 2008)
January 28, 2008 by Canadian UnderwriterTIC Travel Insurance Coordinators Ltd. raised more than Cdn$20,000 for charity this past holiday season, the result of the company’s second annual “Have a Heart” campaign. TIC donated to three charities on behalf of its travel agents and insurance broker…
What’s New: In Brief (January 25, 2008)
January 25, 2008 by Canadian UnderwriterFSCO has approved 2007 Q4 auto insurance rates that averaged +0.08% based on the entire market.During 2007 Q4, for the 20.21% of the Ontario auto insurance market that had rate changes approved, the average rate change was +0.41%, when weighted…
What’s New: In Brief (January 25, 2008)
January 25, 2008 by Canadian UnderwriterA.M. Best has published a rating methodology outlining how risk management is incorporated into the overall rating process for insurers and reinsurers, and exploring the key risk-management trends in the insurance industry.“Risk Management and the Rating Process for Insurance Companies,”…
Postal codes can be key to hidden exposures
January 24, 2008 by Canadian UnderwriterBy taking the six digits of a postal code into consideration, rather than the first three digits, underwriters can determine risk levels of a particular area on a far greater detail, including whether or not a property is located in…
What’s New: In Brief (January 23, 2008)
January 23, 2008 by Canadian UnderwriterKeal Technology and ING Insurance Company of Canada announced a “commercial integration relationship,” in which Keal’s commercial management system (CMS), comXP, will exchange data with the ING Insurance broker application SaversCL.Using CSIO XML standards, data can be exchanged between broker…
IBC calls on governments to review critical infrastructure
January 22, 2008 by Canadian UnderwriterInsurance Bureau of Canada (IBC) is calling on Canadian governments to review critical infrastructure to ensure the country is better able to deal with severe weather events in the future.IBC president and CEO Mark Yakabuski has called on all governments…
U.S. isolationism top risk to markets in 2008: Lloyd’s
January 22, 2008 by Canadian UnderwriterA United States retreat into political isolationism, tensions in the Middle East and the growing threat of another terrorist attack are the major risks threatening the global financial market in 2008, according to the results of a study posted on…
What’s New: In Brief (January 21, 2008)
January 21, 2008 by Canadian UnderwriterDale Chow has been appointed as vice president, Vancouver branch manager for Chubb Insurance Company of Canada.Chow and his team are responsible for all field operations servicing British Columbia.Chow has re-joined Chubb from the Bermuda offices of Allied World Assurance…
What’s New: In Brief (January 21, 2008)
January 21, 2008 by Canadian UnderwriterSwiss Re’s voluntary initiative to become greenhouse neutral, “COyou2 reduce and gain,” completed its first year and more than 400 staff members around the world participated.The program offers Swiss Re staff financial incentives to reduce greenhouse gas emissions. The subsidized…
American insurers call on regulators not to mandate disclosure of climate risk
January 18, 2008 by Canadian UnderwriterThe American Insurance Association (AIA) has called on U.S. state insurance regulators not to “mandate” disclosure of climate risk.In a 16-page white paper, made public in December 2007, the National Association of Insurance Commissioners (NAIC) devotes about 16 paragraphs to…
Elevated political and economic risk in 2008, Aon finds
January 17, 2008 by Canadian UnderwriterMultinational organizations face elevated political and economic risks in 25 of the 50 largest global economies, according to an analysis released by Aon Trade Credit Global. Such risks include business interruption caused by war, terror attacks and political interference, Aon…