Claims
The federal government's 2013 budget removes the HST-exempt status on supplies by providers of independent medical evaluations or independent assessments. However, language contained in amendments could provide a basis to challenge removal of exempt status.
By Sean Aylward | June 30, 2013
5 min read
The dynamic duo of ocean warming and climate change has the potential to threaten the insurability of catastrophic risk in some areas, demanding a shift from historic to predictive risk assessment.
By Angela Stelmakowich, Editor | June 30, 2013
3 min read
REGULATION Regulators working on rules for online insurance sales Many of Canada’s insurance regulations pre-date electronic commerce, so the Canadian Council of Insurance Regulators (CCIR) is inviting stakeholder recommendations to help bring those rules into the 21st century. Regulators published the recommendations for online insurance sales in May as part of the position paper, Electronic […]
June 30, 2013
7 min read
RIMS has submitted a letter to the United States’ Federal Insurance Office, presenting possible improvements to the way coverage related to natural catastrophes operates in the country. RIMS was asked to make its submission as part of the FIO’s study on natural catastrophe insurance. The FIO is a part of the U.S. Department of the […]
By Canadian Underwriter | June 28, 2013
2 min read
The Association of British Insurers and the government there have reached a memorandum of understanding on how to develop a non-profit scheme for affordable and widely-available flood insurance. The memorandum is a first step towards creating “Flood Re,” which aims to deliver affordable flood insurance to high risk households, according to the ABI. “Getting to […]
By Canadian Underwriter | June 27, 2013
As Albertans deal with flood losses possibly exceeding the costs of the 2011 Slave Lake fires, insurance executives are calling on governments to provide better information to the Canadian industry. “This is going to be very catastrophic,” Patrick Lundy, president and CEO of Zurich Canada, said of the floods, which inundated part of central Calgary […]
By Canadian Underwriter | June 26, 2013
AIR Worldwide has announced that its hurricane model for the United States has been certified by a Florida body. The Florida Commission on Hurricane Loss Projection Methodology certifies models used by insurers for developing residential and commercial property rate filings in the state. The commission has been reviewing models since 1996. “We’re pleased that the […]
1 min read
Africa and Asia will be the hardest hit by possible warming global temperatures, especially coastal cities more vulnerable to violent storms, according to a newly-released report from the World Bank Group. A global temperature rise of 2°C in the next few decades would mean regular food shortages in sub-Saharan Africa, shifting rain patterns in South […]
By Canadian Underwriter | June 25, 2013
An average of one-third of Fortune 500 corporate executives are falling for phishing attacks, suggests a security awareness and training company in the United States. Actual simulated phishing attack results show that C-level executives may be most likely to take the bait and fall for simple or sophisticated spear phishing attacks, Pittsburgh-based Wombat Security Technologies […]
Tornado warnings issued on Monday evening for the Thetford Mines and Lotbiniere areas in Quebec have been lifted, although Environment Canada reports warm, humid and storm weather was forecast to continue Tuesday. “Severe thunderstorms affected several regions of southern and central Quebec Monday,” notes a special weather statement issued at 5:19 am Tuesday, with “the […]
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