Industry
Seven people were arrested this week on charges related to a theft ring in which more than 500 vehicles were stolen, crushed and sold for scrap, according to CanWest News Service. Acting on a tip from the Insurance Bureau of Canada (IBC), Quebec’s provincial police and municipal police forces completed a 10-week investigation. One of […]
By Canadian Underwriter | December 7, 2007
1 min read
A recent discovery of a security flaw in Passport Canada’s Web site, coupled with the loss of computer discs belonging to the United Kingdom’s revenue agency, serve as reminders of the threat of data loss and cyber crime.An Ontario man completing his own online passport application discovered that he could easily view the applications of […]
A go-kart operated on a private track is not an “automobile” according to the standard Ontario automobile insurance contract, the Ontario Court of Appeal ruled in Adams v. Pineland Amusements Ltd. Denis Potvin was driving a go-kart on a track owned and operated by Pineland Amusements Ltd. when he allegedly lost control of his go-kart […]
By Canadian Underwriter | December 6, 2007
2 min read
CNA Canada, a commercial insurer with more than 60 years of experience in writing construction, has announced the launch of its new construction insurance product, CNA Build.CNA Build was developed in consultation with distribution partners and CNA professionals in the United States.Benefits of CNA Build include: enhanced casualty capabilities, including “Wrap-up” and “Rip & Tear”; […]
A group of 21 U.S. property and casualty reinsurers wrote US$17.9 billion of net premiums during the nine months ended Sept. 30, 2007, compared to US$19.6 billion in net premium written during the same period in 2006, according to an analysis conducted by the Reinsurance Association of America (RAA). The combined ratio for the group […]
Insurers are entitled to conduct an examination under oath of an insured, pursuant to the Insurance Act, regardless of whether or not the relationship between the insurer and insured is adversarial or a lawsuit has commenced, Ontario’s Court of Appeal has ruled.The decision reversed the decision of a motions judge, who found that the examination […]
By Canadian Underwriter | December 5, 2007
HUB International Ltd. and HKMB International Insurance Brokers have entered into a definitive agreement in which HKMB will join with HUB International. HKMB will become a new regional platform and carry on business as HKMB Hub International from its offices in Toronto, ON. The existing ownership group will continue as equity partners, the release notes. […]
Process inefficiencies, increasing business complexity, regulatory demands and data volume are leaving little time for crucial actuarial analysis within insurance companies, driving a growing trend towards automation, according to the fourth Actuarial Transformation Roundtable organized by Ernst & Young LLP. The roundtable focused on business intelligence (B.I.) strategies for actuaries coping with new challenges surrounding […]
By Canadian Underwriter | December 4, 2007
The Risk and Insurance Management Society (RIMS) has pledged US$30,000 to the William H. McGannon Foundation. The Canadian foundation is dedicated to providing financial resources and career development opportunities to risk management students and practitioners. The funds provided by RIMS will go towards the development of risk and insurance management student enrichment programs and grants, […]
Transport Canada is proposing an amendment to the Motor Vehicle Safety Regulations (MVSR) to make it easier for Canadians to import vehicles from the United States that are either already equipped with an electronic immobilization system “or can be fitted with one.”As of Sept. 1, 2007, motor vehicle safety regulations require that all new cars, […]
By Canadian Underwriter | December 3, 2007
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
