Industry
Too many homeowners don’t fully appreciate the risks involved with undertaking renovations to their homes, notes a new whitepaper out of the United States from ACE Private Risk Services. The report, Managing Home Renovation Risks for High Net Worth Homeowners, outlines major risks that can occur before, during and after construction and what can be […]
By Canadian Underwriter | September 29, 2014
2 min read
Aviva Canada has launched its sixth Aviva Community Fund competition, which provides $1 million to “encourage Canadians to create positive change across the country through community initiatives.” Created in 2009, the competition has since provided more than $4.5 million in funding to 91 charities and community groups including youth programs, public schools, camps, animal shelters and centres for those affected […]
The Office of the Superintendent of Financial Institutions (OSFI) has released a revised Minimum Capital Test Guideline for property and casualty insurers, which comes into force Jan. 1, 2015. “This new version of the guideline represents a more robust risk-based test that more accurately aligns capital requirements to the risks faced by the property and […]
By Canadian Underwriter | September 26, 2014
1 min read
The Insurance Institute of Canada recently announced a certificate program designed to give “deeper” technical knowledge to workers who already have IIC’s Chartered Insurance Professional (CIP) designation, as well as a one-day program intended to “give leaders with a non-insurance background a deeper understanding” of the property and casualty insurance industry. IIC chief executive officer […]
OTTAWA – Statistics Canada says police reported 9,084 incidents of cybercrime in 2012, more than half of which involved fraud. The agency says very few online fraudsters were identified by police. About 20 per cent of cybercrimes involved threats, with suspects identified in 55 per cent of the cases. About 16 per cent of reported […]
By The Canadian Press | September 25, 2014
NEW YORK – U.S. health officials Tuesday laid out worst-case and best-case scenarios for the Ebola epidemic in West Africa, warning that the number of infected people could explode to at least 1.4 million by mid-January – or peak well below that, if efforts to control the outbreak are ramped up. The widely varying projections […]
By Canadian Underwriter | September 24, 2014
3 min read
Trisura Guarantee Insurance Company has announced its acquisition of L’Unique General Insurance’s contract and commercial surety business in all provinces except Quebec. “The L’Unique surety business is a great fit for Trisura and allows us to further strengthen our position in the Canadian marketplace as a market leader in the small to mid-size contractor space. […]
ST. JOHN’S, N.L. – A Newfoundland lawyer who lost his bid to hold the province liable for moose-vehicle crashes hopes a panel of appeal court judges will see the novel case differently. Ches Crosbie said Monday he will appeal a provincial Supreme Court ruling that dismissed the class-action lawsuit he spearheaded. He also urged the […]
By Canadian Underwriter | September 23, 2014
OTTAWA – Combining property and casualty insurance with other financial products helps improve both customer retention and margins, speakers suggested Monday at the National Insurance Conference of Canada in Ottawa. “We just bought State Farm,” noted Stephane Morency, senior vice president of development and commercial lines at Desjardins General Insurance Group, in reference to Desjardins […]
By Canadian Underwriter | September 22, 2014
The Canadian Independent Adjusters’ Association (CIAA) has announced that Albert Poon, CIP, most recently CIAA’s 1st vice president, has assumed the role of CIAA national president, effective immediately. In line with the CIAA succession plan in place, Poon (right) takes on duties as CIAA president with the resignation of David Porter (bottom, left). Poon is […]
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