Industry
More than three-quarters of surveyed property and casualty (P&C) and life insurers identified the need to have effective web or e-commerce strategies as the number one trend affecting the industry, according to a joint study conducted by Gartner, Inc. and ACORD. The survey of 104 insurance leaders in Canada, the United States and the United […]
By Canadian Underwriter | October 1, 2015
3 min read
HALIFAX – New photos released by the Transportation Safety Board show damage to the passenger cabin of an Air Canada plane that crashed at Halifax’s airport during a heavy snowfall earlier this year. The photos are part of an update issued by the safety agency Tuesday that also provides details on the weather and flying […]
By The Canadian Press | October 1, 2015
2 min read
When it comes to business interruption co-insurance, there are a number of common mistakes that insurance professionals make. A clear understanding of co-insurance, a complex component of business interruption losses, is key to avoiding miscalculations that can have a significant impact on a claim for both the insurer and the policyholder.
By Timothy Zimmerman, Senior Manager, Litigation Accounting and Valuation Services, Collins Barrow Toronto LLP | September 30, 2015
5 min read
Brokers are redoubling their efforts to inform MPs across the country that, when it comes to selling insurance, the current approach in the Bank Act should be maintained. As has always been the case, they argue that allowing banks to sell insurance at the point of granting credit is not in the best interests of consumers.
By Dave Nussbaumer, President, Insurance Brokers Association of Saskatchewan | September 30, 2015
Bryan Yetman, vice president of operations for First Durham Insurance and Financial in Pickering, Ont., has been recognized for his commitment and excellence in broker education with the 2015 Dale Rempel Award of Excellence. This is the second year the Insurance Brokers Association of Canada (IBAC) has presented the award – created and named for Dale Rempel, […]
By Canadian Underwriter | September 30, 2015
DETROIT – Seven more companies including electric car maker Tesla Motors could be facing recalls because they use air bag inflators made by Takata Corp., according to letters they received last week from U.S. safety regulators. So far about 23.4 million Takata driver and passenger air bag inflators have been recalled on 19.2 million U.S. […]
By Canadian Underwriter | September 28, 2015
The National Energy Board (NEB) has announced that it is extending its review period for Kinder Morgan’s Trans Mountain pipeline expansion project. In a statement on Thursday, the NEB said that it had implemented an “excluded period” for the review of the expansion project, which began on Sept. 17 and will end Jan. 8, 2016. […]
By Canadian Underwriter | September 25, 2015
The loss ratio, in personal accident benefits for Canadian private auto insurers, rose sharply in 2014, but changes made in Ontario are starting to work their way through the system, an analyst from A.M. Best Company Inc. told insurance professionals Thursday in Toronto. Joel Silverthorn, senior financial analyst for Oldwick, N.J.-based A.M. Best, alluded to […]
By Canadian Underwriter | September 24, 2015
The Centre for Study of Insurance Operations (CSIO) announced on Thursday that Mississauga, Ont.-based Unica Insurance has obtained CSIO certification for commercial lines eDocs. eDocs is intended to help brokers save time by allowing them to download policy documents directly from a carrier’s computer system to their broker management systems (BMS), and to store those […]
BERLIN – Volkswagen CEO Martin Winterkorn stepped down Wednesday over a scandal in which the German carmaker admitted to rigging its diesel cars’ emissions to pass U.S. tests. In a statement, Winterkorn said he took responsibility for the “irregularities” found in diesel engines but that he was “not aware of any wrongdoing on my part.” […]
By Canadian Underwriter | September 23, 2015
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