Industry
Property and casualty insurers wishing to cross-sell life insurance and wealth management products should be considering new specialists, new office cultures and new technology
By Pat Durepos, President, Keal Technology | May 31, 2008
6 min read
Alberta’s Court of Queen’s Bench has upheld that exceptional circumstances are required to split a trial under Rule 221 of the Civil Rules of Procedure. In Inland Concrete Limited v. Commonwealth Insurance Company, 2008, Inland wanted a split trial in order to settle whether their insurer was required to cover their settlement costs. Commonwealth Insurance, […]
By Canadian Underwriter | May 30, 2008
2 min read
Chubb Insurance Company of Canada launched its Executive Elite policy, the latest addition to the company’s suite of directors’ and officers’ and other professional liability products. Executive Elite is classified as an excess Clause 1 or Side A policy, protecting individual directors and officers exclusively, a Chubb release says. It is designed as an excess […]
In addition to aggressively developing and marketing their own brands, brokers should also be leveraging the brands of the insurers they sell instead of hiding them, said Alister Campbell, CEO of Zurich in Canada.Speaking at the Insurance Institute’s “At the Forefront Breakfast” in Toronto, Campbell delivered his presentation entitled “The Seven Secrets of Selling Value […]
By Canadian Underwriter | May 29, 2008
Pricing deterioration will likely be the primary commercial property and casualty ratings driver over the next couple of years, predicts Standard & Poor’s (S&P’s).In its Midyear 2008 U.S. Commercial Lines Outlook, S&P’s notes there are strong indications the deterioration in premium rates that began in earnest in late 2006 has reached the point where there […]
1 min read
The International Accounting Standards Board (IASB) and U.S. Financial Accounting Standards Board (FASB) have published consultative documents seeking public comment on a joint project to improve future accounting standards.Each document is more than 40 pages and is available at www.iasb.org.The first document, referred to as the ‘Exposure Draft,’ defines the objectives of financial reporting and […]
Brokers can now download quotations from ING Insurance Company of Canada’s Web quoting tool directly into Policy Works. With the release of integrated download functionality, ING and Policy Works have announced the launch of what they call the next phase in commercial data exchange. Brokers will be able to download quotations into Policy Works regardless […]
Alberta’s Superintendent of Insurance has raised the maximum fee and disbursements for physical therapy services related to the automobile accident insurance benefits regulation.The new rate for the amount payable for completion of an assessment of an insured is Cdn$109.The amount payable for completion of an injury management consultation is Cdn$217.50. The new amount payable for […]
By Canadian Underwriter | May 28, 2008
Improvements in reserving would be beneficial for the insurance industry, according to Swiss Re’s sigma study, “Non-life claims reserving: improving on a strategic challenge.”Claims reserves (or provisions) are funds set aside for claims that have not yet been paid. Since claims reserves are often bigger than an insurer’s equity, changes in reserves can heavily impact […]
FSCO has dismissed the appeal of a ruling that a man opted out of workers compensation benefits to launch an action against an insurer for the sole purpose of seeking accident benefits under the SABS-1996.In the arbitration Patrick Lawrence and ACE INA Insurance, Lawrence was involved in a 2003 car accident. He was driving a […]
By Canadian Underwriter | May 27, 2008
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