Industry
Breaches of personal information at an organization can have a major impact on its business, with consumers reporting ceasing to do business after a breach, notes a new report from the Economist Intelligence Unit (EIU). In a global survey of regular Internet users, more than 32% said they would stop doing business with an organization […]
By Canadian Underwriter | April 19, 2013
2 min read
The global reinsurance market is continuing to grow, despite several economic environment challenges, rating company A.M. Best says, adding that it is holding the outlook for the segment at stable. In a new special report on the reinsurance market, the firm notes that a return to underwriting profit for the market last year las allowed […]
Findings from a study by the Virginia Tech Transportation Institute suggests that 20% of collisions are the result of driver fatigue, even among those that occurred during the day. Results from the “100-car naturalistic study” go against other estimates based on surveys, simulator studies and test tracks that suggest fatigue is responsible for only 2% […]
3 min read
XL Group plc of Dublin announced Thursday it plans to offer new insurance coverage, along with risk management services, to the Canadian and American food and beverage industry, with the aim of eliminating gaps in coverage. One new coverage will be its environmental food and beverage policy, intended to cover accidents related to ammonia discharges, […]
By Canadian Underwriter | April 18, 2013
1 min read
New Brunswick has a new acting ombudsman, just two days after the province’s consumer advocate for insurance argued in its annual report that its duties should remain separate from the ombudsman’s office. New Brunswick’s premier David Alward announced Thursday that Jennifer Murray has been appointed acting ombudsman, effective immediately Murray was most recently the director […]
All students who attend on-reserve high schools in Saskatchewan will have access to driver education, the provincial government announced this week. The announcement follows the release of the Joint Task Force on Improvement Education and Employment Outcomes for First Nations and Métis People report, released Monday. Increased access to driver education removes barriers to mobility […]
There is a lot to gain by executing on a good Own Risk and Solvency Assessment (ORSA) framework, Louis Durocher, senior vice president and chief actuary for Aviva Canada Inc., suggested during a symposium this week. The ORSA approach, which sets the stage for an organization to both understand its risks and be prepared should […]
Many Canadians are not very confident about their ability to protect personal information when using new technologies, and want organizations to inform them of how they use such information, results from a poll by the Office of the Privacy Commissioner of Canada suggest. In a phone survey of 1,513 residents across Canada conducted last fall, […]
By Canadian Underwriter | April 17, 2013
The association that includes all the private auto insurance carriers in Quebec announced Wednesday that consumers in the province can now consult their claims file online and can request access. Consumers can now request access to the Fichier central des sinistres automobiles (FCSA), a database that tracks losses filed in Quebec for the past six […]
Global reinsurer Munich Re is supporting a two-year earthquake prevention project in an extremely high-risk city in India. Aizawl, a city in northeast India, has a population of about 300,000 and is situated in the “geographically complex border area between the Indian and Eurasian Plates,” Munich Re noted in a statement on the project. The […]
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