XL Group proposes to relocate from Ireland to Bermuda
March 1, 2016 by Canadian UnderwriterTen months after it completed its acquisition of Catlin Group Ltd., insurance carrier XL Group plc is proposing to change its place of incorporation to Bermuda. XL’s principal offices are currently in Dublin, Ireland. In Canada, XL’s coverages include commercial…
RSA Canada reports underwriting profit of $225 million for 2015, combined operating ratio of 91.7%
February 29, 2016 by Canadian UnderwriterHome, car and business insurer RSA Canada has reported a record underwriting profit of $225 million for 2015 and a combined operating ratio of 91.7%, well below its annual target for 2015. In 2014, the combined operating ratio was 98.6%.…
Taking Flight
February 1, 2016 Jim Eso, Senior Vice President, Property and Casualty, Crawford & Company (Canada) Inc.Drone technology offers the promise of bringing loss assessment and customer service to new heights. But meeting these lofty goals requires down-to-earth considerations, including Canada’s existing legislative framework for unmanned aerial vehicles, which presents some challenges for developing an effective use strategy.
Manitoba government undertakes review of Winnipeg’s taxicab industry
January 20, 2016 The Canadian PressWINNIPEG – The Manitoba government and its taxicab board are reviewing the industry in Winnipeg over the next six months. The taxi review will examine the various classes of service, fare structures, customer satisfaction, safety and accessibility, new technologies and…
ACE’s acquisition of Chubb expected to close Jan. 14
January 13, 2016 by Canadian UnderwriterACE Limited and the Chubb Corporation announced on Wednesday that they have received all the regulatory approvals needed for ACE’s acquisition of Chubb, “a transaction that will create the world’s largest publicly traded property and casualty insurer,” according to ACE.…
Federal environment minister optimistic as Paris climate talks go into overtime
December 11, 2015 Patrice Bergeron - THE CANADIAN PRESSPARIS – The Canadian delegation at the climate-change conference in Paris remained optimistic on Friday that a deal could be reached with the deadline being extended to Saturday. Federal Environment Minister Catherine McKenna said in a statement she was encouraged…
Smaller North American brokerages outperform larger ones in overall satisfaction: J.D. Power study
December 10, 2015 by Canadian UnderwriterSmaller brokers outperform their large counterparts in overall satisfaction, according to the J.D. Power 2015 Large Commercial Insurance Study, released on Wednesday. The study, conducted in association with RIMS, the risk management society, also found that brokers that outperform their…
Bringing Sense to BYOD
December 1, 2015 Mitch Koczerginski, Associate, McMillan LLPBring Your Own Device is now part of the business landscape. But with the convenience and flexibility of BYOD comes risks that an organization must address in a dedicated policy.
The Measure of Adjusting
November 30, 2015 Craig Harris, Freelance WriterInsurance company claims departments are using a wide range of metrics to measure adjusting efficiency, such as shelf life, cycle time and service indexes. Independent adjusters are accustomed to being accountable for their work, time and professional expertise through ongoing measurements. But are these key performance indicators relevant to all aspects of the claims handling process? Are the metrics truly effective at improving claim resolution? And how can adjusters and claims managers agree on the measurements that matter most?
Federal bankruptcy law trumps Alberta law allowing suspension of uninsured drivers’ privileges: Supreme Court of Canada
November 16, 2015 by Canadian UnderwriterAn Alberta law that allows for driving prohibitions of uninsured motorists who fail to repay the Motor Vehicle Accident Claims Program – and are discharged from bankruptcy – is unconstitutional, the Supreme Court of Canada has ruled. Section 102 of…
City of Calgary committee holds special meeting to consider regulation of transportation network companies
November 10, 2015 by Canadian UnderwriterCalgary’s Taxi and Limousine Advisory Committee (TLAC) held a special meeting on Tuesday to examine options for the committee to consider regulating Transportation Network Companies (TNCs). In a submission presented by Mario Henriques, the city’s Chief Livery Inspector, city administrators…
Anatomy of a Cat Plan
November 1, 2015 Joe Colby, Senior Vice President and Head of Claims, Canada & English Caribbean, Swiss ReWhat are the key elements of a best-in-class catastrophe plan? Not only do businesses need to look inward to determine company-specific risks andexposures, but also look outward to see how lessons learned elsewhere can be employed