Industry
Three Ontario mutual insurance companies have officially amalgamated, creating The Commonwell Mutual Insurance Group, which will begin operation Jan. 1. Farmers’ Mutual Insurance Company (Lindsay), Glengarry Mutual Insurance Company and Lanark Mutual Insurance Company received regulatory approval to amalgamate from the Financial Services Commission of Ontario on Oct. 25. The approval was based on policyholder […]
By Canadian Underwriter | November 20, 2013
1 min read
The number of people working for companies categorized as property and casualty insurance carriers in the Toronto area has dropped 5.7% over 10 years, while total employment in the insurance industry in the area increased 11.3% over the same time, according to a report released Wednesday by the Conference Board of Canada. The report, titled […]
4 min read
The Insurance Brokers Association of Ontario (IBAO) has elected Chris Floyd as its 71st president, the organization formally announced Wednesday. Floyd, based in Waterloo, was officially inducted at the recent IBAO Convention in Toronto, and will formally assume his role as president on Jan. 1. Floyd currently serves as president of Individual Insurance for the Ontario […]
2 min read
IT security, big data and analytics are among the top technology-related challenges facing organization, and despite ongoing efforts, many companies are lacking in terms of their IT audits, according to a new global survey from consulting firm Protiviti. The survey included 469 respondents, including chief audit executives, IT audit directors, IT audit managers, and other […]
By Canadian Underwriter | November 19, 2013
Ernst & Young announced Tuesday the results a survey of executives on information security in which half of the respondents said business continuity and disaster recovery will be among their top priorities over the next year. In its Global Information Security Survey 2013, the consulting firm suggested organizations who allow employees to use their own […]
The Canadian Council of Insurance Regulators has released its final position paper on the use of electronic commerce in insurance products, stressing the need for consumers to have access to more information on their coverage. The CCIR began its look at electronic commerce in the industry in January 2012. Last May, the group released its […]
The Board of Directors for the Insurance Corporation of British Columbia (ICBC) announced Monday the permanent appointment of Mark Blucher as president and CEO, effective immediately. Blucher, who has held the position of interim president and CEO since October 2012, is responsible for providing overall leadership and strategic direction to help ensure high-quality service and […]
By Canadian Underwriter | November 18, 2013
The National Insurance Crime Bureau, based in Des Plaines, Ill., reported Monday a 21% year-to-year increase in the number of questionable auto claims referred to the organization for unperformed repairs, while the number of questionable commercial claims dropped 13% from the first nine months of 2012 to the first nine months of 2013. NICB released […]
Brovada Technologies has obtained Centre for Study of Insurance Operations (CSIO) Certification for eDocs. eDocs is the first business activity available for CSIO Certification. The centre plans to expand the certification program – which is available to member insurance companies and vendors – to cover other activities, notes a statement from CSIO, the national standards […]
Construction firms in the United States paid, on average, more for their insurance in the first half of the year, according to a new report from Marsh. Renewal rates for contractors general liability, project-specific general liability, umbrella and excess liability, workers’ compensation, and residential construction insurance was up between 3% and 7% on average during […]
By Canadian Underwriter | November 15, 2013
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