Industry
Peter Garvey, president of Integro Insurance Brokers, has assumed the additional role of CEO following the resignation of Roger Egan for undisclosed reasons.”As president of Integro since its inception, Pete has had responsibility for our professional staff and client service,” said Bob Clements, chairman of Integro. “I have the utmost confidence in him. Roger Egan […]
By Canadian Underwriter | September 11, 2008
1 min read
Insurers continue to struggle with capturing and evaluating the strategic impact of IT investments and setting IT project priorities, reports Celent.In its report, Celent examines various IT investment evaluation methodologies (both traditional and alternative methodologies) and the rationales behind them. “IT investment appraisal is more complex than traditional investment appraisal,” the report says. “IT initiatives […]
WICC (Women in Insurance Cancer Crusade) Ontario Chapter will host its 11th Annual “Breakfast for Breast Cancer” on Nov. 4, 2008 in Toronto.Erin Anderssen, senior writer for the Globe and Mail, will speak at the event. Anderssen spent five months interviewing Canadians for her special 2006 series, ‘Cancer: A Day in the Life.’ The series […]
By Canadian Underwriter | September 10, 2008
2 min read
Licensing U.S. teenagers to drive at ages older than 16 would substantially reduce crashes involving teen drivers, a new Insurance Institute for Highway Safety report says.The report, which cites Canadian research, has been released at the annual meeting of the Governors Highway Safety Association.The report notes recent U.S. legislative proposals to increase driver’s license ages […]
The duties of the Nova Scotia Insurance Review Board (IRB) will be reassigned to the Utility and Review Board (UARB) effective Oct. 1, 2008. The Nova Scotia Department of Finance says it believes assigning IRB responsibilities to the UARB will result in the most effective means of delivering this important regulatory function to the benefit […]
Trading in carbon dioxide (CO2) certificates and parametric covers may be alternatives for agricultural risk, given the growing risk trends in this sector, suggests Partner Re.Climate change, bio-fuels, insurance premium subsidies, commodity price inflation and new farming methods are just some of the many factors influencing agricultural production and causing risk managers and insurers to […]
By Canadian Underwriter | September 9, 2008
Canada’s property and casualty insurance sector is stable, according to a recent market report by A.M. Best, “but strong capitalization and profitability provide the ingredients for continued softening in the market.” In its special report, “Canadian P/C Insurers See Profits Shrink, Watch Softening Market,” A.M. Best observes that in the Canadian insurance market, pricing is […]
Canadian provinces and territories all deserve poor grades for failing to establish mandatory alcohol ignition interlock programs for those convicted of impaired driving, according to Mothers Against Drunk Driving (MADD Canada). An ignition interlock device is an in-car alcohol breath-screening device that prevents a vehicle from starting if it detects a blood alcohol concentration (BAC) […]
The Insurance Brokers Association of Canada (IBAC) and the Toronto Insurance Conference (TIC) have proposed a model ‘Export List’ to make life simpler for brokers’ clients when they apply for an exemption from the excise tax on unlicenced insurance.Clients of commercial insurance brokers must pay an excise tax when purchasing insurance through foreign, unlicensed markets. […]
By Canadian Underwriter | September 8, 2008
Ontario bumped up rates for its private passenger auto insurance by 2% at last filing, but the rate change did not include a “cost of capital” provision that Facilities Association wants the provincial regulator to include.In a report to the Insurance Brokers Association of Canada (IBAC), Facilities Association (FA) maintained its position that a cost […]
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