Claims
Vancouver was host to the RIMS 2011 Annual Conference & Exhibition May 1–5. The risk and insurance industry community took advantage of the exceptional beauty of the city and surroundings to hold and attend numerous receptions, special events, dinners and networking gatherings.
May 31, 2011
1 min read
WICC Ontario held its 15th annual gala dinner, ICONIC, on Apr. 13, 2011 at The Westin Harbour Castle Hotel in Toronto. WICC dinner co-chairs and evening emcees Michael Butler and Marian Adamson introduced WICC co-chairs Carolyn Horan and Jean Faulkner to present Martin Kabat, CEO of the Ontario division of the Canadian Cancer Society, with […]
British Columbia’s Financial Institutions Commission (FICOM) is supporting a recent privacy commissioner ruling that found an insurer failed to comply with privacy laws around the collection and use of personal information related to credit scores. The Office of the Information and Privacy Commissioner issued a ruling on May 6, 2011, that ordered an insurer to […]
By Canadian Underwriter | May 30, 2011
Honda Canada has advised its customers of a data breach involving the unauthorized access of 2009 records, including names, addresses, Vehicle Identification Numbers (VIN) and, “in a small number of cases,” Honda Financial Services (HFS) account numbers.The breach has reportedly affected approximately 280,000 Canadian customers. The information was related to a series of customer mail […]
Insurers being sold through an auction channel, rather than through a traditional acquisition deal, face greater regulatory risk and uncertainty of the transaction being completed, said Brian Rose, senior partner with Stikeman Elliott’s corporate commercial section.Rose spoke as a panel member during a session on mergers and acquisition trends in the Canadian marketplace at the […]
By Canadian Underwriter | May 27, 2011
2 min read
The Economical is continuing its dual-track approach to demutualization, which could either take the form of an initial public offering (IPO) or a “sponsored demutualization,” through a sale of some or all of the company to strategic partners.”I want to emphasize one thing to everyone in this room today,” said Karen Gavan, a board member […]
4 min read
Intact Financial Corporation estimates the financial impact on the company of wildfires in Slave Lake and surrounding areas will be between $45 million and $55 million.Intact said the 800 claims it has received are thus far “predominantly” for property-related damage, and to a lesser extent commercial and auto-related coverage.The estimated financial impact is still in […]
By Canadian Underwriter | May 26, 2011
Climate change models are still too rudimentary to be able to link global climate change with the wildfire incidence in specific parts of Canada, according to a wildfire expert at the University of Toronto.Brian Stocks, president of B.J. Stocks Wildfire Investigations Ltd., spoke at an Institute for Catastrophic Loss Reduction (ICLR) news conference in Toronto […]
Recent wildfires that have evacuated residents and destroyed almost 400 lots in Slave Lake, Alberta have resulted in a call for the federal government to move forward with funding for the 2005 Canadian Wildland Fire Strategy (CWFS).Brian Stocks, author, wildfire scholar and president of Stocks Wildfire Investigations Ltd., urged the government to re-commit to the […]
By Canadian Underwriter | May 25, 2011
Preliminary insured loss estimates from the May 22 tornado that hit Joplin, Missouri, range between $1 and $3 billion, according to the catastrophe risk modelling company EQECAT. Initial surveys by the National Weather Service indicate the tornado, reportedly a mile wide, had wind speeds of up to 320 km-h. Ongoing damage surveys could warrant an […]
By Canadian Underwriter | May 24, 2011
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