OSFI to focus on Sept. 11 risk spread
December 1, 2001 by Canadian UnderwriterThe ability displayed by the property and casualty insurance industry and other financial institutions in effectively dealing with the events of September 11 testifies to the value of effective risk management and planning, observes Nick Le Pan, head of the…
MPI gets rate approval
November 20, 2001 by Canadian UnderwriterManitoba Public Insurance (MPI) has received approval for its 2002-2003 rate structure from the province’s Public Utilities Board. The structure means basic Autopac policyholders will pay an average of $555 in premiums, the same rate paid since 1998.MPI had hoped…
Keeping the World’s Runways Open
November 1, 2001 David CarrIn the aftermath of the terrorist attacks on September 11 of this year, the Canadian federal government has offered the country’s struggling airlines a wing and a prayer – at least a temporary one…
Industry can meet Sept. 11 commitments, says A.M. Best
November 1, 2001 by Canadian UnderwriterAlthough the September 11 terrorist attacks are “unprecedented in scope and complexity,” the industry will be able to meet its commitments, says Larry Mayewski, executive vice president and chief rating officer for A.M. Best. “The direct and indirect impact of…
Mexico, Untapped Opportunities for Brokers
November 1, 2001 Peter Bassel, Toronto branch manager of Loyalist Insurance BrokeFor Canadian brokers, the prospects of developing their existing client relationships by maximizing on the dramatic growth in Canadian business and tourism to and within Mexico is immense. The trick lies in not being overwhelmed by the prospect of dealing with foreign business practices.
Standard healthcare invoice for Ontario auto
November 1, 2001 by Canadian UnderwriterAfter five years of petitioning the Financial Services Commission of Ontario (FSCO), the Insurance Bureau of Canada (IBC) has instituted a standard auto insurance invoice for healthcare practitioners in Ontario. The invoice, which applies to rehabilitation providers such as chiropractors,…
U.S. insurance groups look for temporary reinsurance solution for terrorism
October 10, 2001 by Canadian UnderwriterChicago-based The National Association of Independent Insurers (NAII) has released a proposal which it believes offers the best short-term solution to insurers in the wake of the reduction in reinsurance cover for terrorism exposures. NAII says it will continue to…
Future of airline insurance up for discussion
October 5, 2001 by Canadian UnderwriterThe future of aviation insurance, as well as airport and air navigation facility coverage, are the subject of debate and speculation since the September 11 terrorist attacks. The National Post reports Canadian Transport Minister David Collonette says the government could…
MPI changes tune on rate reduction
October 4, 2001 by Canadian UnderwriterFollowing announcement of higher than normal claims payouts this summer, Manitoba Public Insurance (MPI) is taking back its request to the province for a rate reduction for motorists.Hail storms in August are partly to blame for the decision, which will…
IBC launches standard invoice for Ontario
October 4, 2001 by Canadian UnderwriterAfter five years of petitioning the Financial Services Commission of Ontario (FSCO), the Insurance Bureau of Canada (IBC) is finally able to institute a standard auto insurance invoice for health care practitioners in Ontario. The invoice, which applies to rehabilitation…
The Smart Home of the Future
October 1, 2001 Andy Walker, Cyberwalker Media SyndicateJust as items in a store are tracked through UPN codes, the items in homes may soon be “tagged” and tracked. And this is just the beginning of new “smart home” technology. New systems are under development that could put a very different face on the house of the future.
Storms hit Manitoba, Newfoundland
October 1, 2001 by Canadian UnderwriterHail as large as baseballs caused more than $3 million in damage to vehicles in Manitoba, the province’s public insurer reports. A late summer storm wreaked havoc on car hoods, fenders and roofs, reports Manitoba Public Insurance (MPI). Shortly after…