Industry
TORONTO – An Ontario judge ought to revisit the majority of her convictions in a case involving a deadly explosion at a Toronto propane plant nearly seven years ago, the lawyer for Sunrise Propane and its directors argued Monday. The company and directors Shay Ben-Moshe and Valery Belahov were found guilty in June 2013 of […]
By Canadian Underwriter | March 31, 2015
3 min read
HALIFAX – Transportation Safety Board investigators were spending most of Monday sifting through debris and documenting the site of an Air Canada flight that crashed Sunday at Halifax’s airport. Mike Cunningham, the regional manager of air investigations, said a team of investigators were looking through debris from the point where the plane touched down at […]
By Canadian Underwriter | March 30, 2015
Global reinsurer capital rose by 6% to $US575 billion in 2014, including a 28% increase in alternative capital to $US64 billion, according to the latest Aon Benfield Aggregate (ABA) study. Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, launched the report on Monday. It analyzed the financial results of 31 major […]
2 min read
An auto insurance group in Quebec unveiled a new online tool on Monday that explains to drivers who’ve had an accident or had their car stolen, or suffered any other loss, what they need to know step by step. The Groupement des assureurs automobiles (GAA) announced the auto claims settlement tool, a web resource that […]
New technologies, competition and customer demands will work together to radically change traditional supply chains over the next five to 10 years, notes a new report issued last week by international trade association MHI and Deloitte. Firms polled report that they expect to invest heavily in new supply chain technologies over the next two years […]
5 min read
Embracing transformational change in the commercial insurance industry is crucial to carriers’ long-term success, John Hennessy, president and chief operating officer of CNA Canada, suggested last week during a presentation at the Insurance Institute of Ontario’s “At the Forefront” event in Toronto. “We definitely are at a point in time where we have to understand that […]
By Canadian Underwriter | March 29, 2015
HALIFAX – An Air Canada plane skidded off a runway as it landed early Sunday morning in a snowstorm in Halifax, an airport official said, sending 23 people to hospital after passengers described the jet sliding on its belly before it came to a stop. There were 133 passengers and five crew members aboard flight […]
6 min read
A York Regional Police (YRP) officer has pleaded guilty to a charge of “knowingly making a false or misleading statement or representation to an insurer” under the Insurance Act, the police force revealed on Thursday. On Tuesday, Const. Stuart Coleman entered his plea under section 447 1(a) of the act in the Ontario Court of […]
By Canadian Underwriter | March 27, 2015
1 min read
“Data is a major enabler in innovation in new products and markets,” demanding that mutuals commit to developing a data strategy, John Taylor, president and CEO of the Ontario Mutual Insurance Association (OMIA), said Thursday. Mutuals must continue to make investments in data-based systems that allow use of analytical tools, continue to work together to […]
By Canadian Underwriter | March 26, 2015
Munich Reinsurance America, Inc. announced on Thursday that it had joined the University of Michigan’s Mobility Transformation Center (MTC) Affiliates Program — part of a major research partnership of industry, government, and academia that is exploring a commercially viable system of connected and automated vehicles. “We are excited to be a part of this initiative, […]
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