Industry
The Insurance Institute of Canada has launched an self-assessment quiz for CIP graduates to assess their readiness to enter the Fellow Chartered Insurance Professional (FCIP) leadership program. “The self-assessment quiz provides possible FCIP candidate with a straightforward, easy-to-use resource to explore their readiness for the pre-eminent professional designation in Canada’s P&C industry,” noted Peter Hohman, […]
By Canadian Underwriter | September 18, 2013
1 min read
New Zealand insurers have injected $8.33 billion to date into the Canterbury recovery in the wake of severe damage from earthquakes in 2010 and 2011. The $8.33 billion in insurable costs are made of $5.41 billion in commercial claims and $2.92 billion in residential claims settled, notes a statement issued Tuesday by the Insurance Council […]
Cyber risk is high on the list of the most significant risks that organizations face and requires that risk managers be stakeholders in its management, says Julia Graham, a board member of the Federation of European Risk Management Associations (FERMA). “There is a tendency in my experience for risk managers to step away from this […]
By Canadian Underwriter | September 17, 2013
2 min read
Challenges in the German life insurance industry have led their non-life affiliates under pressure to compensate, notes a new special report from ratings firm A.M. Best. The current low interest rate environment is a major reason life companies are performing poorly, putting pressure on non-life companies to increase premiums and profit margins, according to the […]
Canada’s major insurers are concerned about the lack of overland flood insurance in the country, but are split on whether such a product is viable, according to a new report commissioned by the Co-operators. The study is based on interviews with CEOs and other executives at insurance companies accounting for 57% of the property insurance […]
State Farm Mutual released Monday survey results that the carrier says show “strong disconnections between Canadian parents and teens regarding graduated driver licensing (GDL) laws.” In the survey, teenagers were asked: “How often do you follow or will follow the laws?” The results were broken down by four different restrictions on new drivers subject to […]
3 min read
CAA South Central Ontario (SCO) announced Tuesday the sale of its 13 Car Care Centre locations across southern Ontario. All 13 locations will remain open as the company actively seek potential bids, its announcement said. CAA Car Care Centres are located across southern Ontario in Cambridge, Elmira, Georgetown, Guelph, Kitchener (Fairway and Westmount), Listowel, Milton, […]
Manitoba has amended the province’s Highway Traffic Act, allowing local governments to set lower speed limits in school zones. Local governments, such as municipalities, local government districts, First Nations and community councils, now have the ability to: “Reduced-speed school zones are limited to streets and highways that abut the school property and the designated zone […]
By Canadian Underwriter | September 16, 2013
Insurance quote comparison website Kanetix.ca has added title insurance quotes to its offerings. The site, which is known mainly for auto insurance quote comparisons, is now offering “Title Fraud Protection+” quotes from FCT, an Oakville, Ont.-based provider of title insurance in Canada. The quotes are available for homeowners in British Columbia and Alberta. Kanetix says […]
Acceptance of enterprise risk management programs has reached the critical mass stage, according to a new survey from RIMS. More than 60% of respondents included in the organization’s survey have fully or partially implemented ERM programs, according to its report, based on responses from more than 1,000 risk professionals as a follow-up to similar surveys […]
By Canadian Underwriter | September 13, 2013
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