Industry
ICBC has added commercial vehicles to its ‘bait’ vehicle fleet, including construction equipment and working commercial vans. Bait cars are used by the Integrated Municipal Provincial Auto Crime Team (IMPACT) to lure thefts. A bait car is a vehicle owned by the police and is intended to be stolen, IMPACT says. After a bait car […]
By Canadian Underwriter | March 8, 2012
1 min read
People convicted of drunk driving are less likely to re-offend if they have to install alcohol interlocks on their vehicles, a study by the Insurance Institute of Highway Safety (IIHS) found. The study’s results provide support for requiring the devices to be used by all offenders, not just those with multiple arrests or high alcohol […]
By Canadian Underwriter | March 7, 2012
Traffic enforcement officers in Saskatchewan will be cracking down on aggressive driving on Mar. 14-15 as part of a coordinated safety blitz, a Saskatchewan Government Insurance (SGI) release says. Aggressive driving includes speeding, driving too fast for road conditions, running red lights, failing to stop at stop signs, stunting, passing to the right on a […]
QBE Insurance Group announced it is combining its worldwide reinsurance operations under a single management team and unified brand, QBE Re. QBE Re will comprise of what’s currently known as Syndicate 566, QBE Re (Europe), Secura NV and QBE Re (Americas). The combined business will have a gross written premium of more than $1.5 billion […]
Manitoba Public Insurance (MPI) is encouraging consumers to come forward and speak out against auto fraud to mark Fraud Prevention Month. During the month of March, MPI will make an extra effort to remind consumers about its TIPS line. To make an anonymous call, consumers can call the line toll-free at 1-877-985-8477. MPI’s Special Investigations […]
Insurers and brokers wishing to thrive in the era of digitalization may be underestimating the challenge posed by legacy systems, according to Kimberly Harris-Ferrante, vice president and analyst at Gartner Research. She made this observation during her keynote address at the 10th annual Insurance-Canada.ca Technology Conference held in Toronto on Mar. 5, 2012. Harris-Ferrante noted […]
By Canadian Underwriter | March 6, 2012
2 min read
The Centre for the Study of Insurance Operations (CSIO) has released its XML Standards for electronic documents, known as ‘E-docs.’ With E-doc workflows, PDF files of the policies are sent directly from the insurer to the broker management system (BMS) using the CSIO download. They are then attached directly to the client screen within the […]
Lloyd’s London Market Group (LMG) announced its electronic endorsements initiative is now extended to all classes of business. Brokers can now send all endorsements in every class electronically. All insurers will be able to respond to them. The London Market Group is a market-wide body made up of the CEOs of market participants, CEOs of […]
EQECAT has estimated insured damage of between $1 billion and $2 billion arising from the tornadoes that tore through the United States Midwest over a four-day period in early March. The catastrophe modeller says a preliminary count of more than 150 tornadoes touched down in two distinct systems between Feb. 28 and March 3. The […]
Insurance Bureau of Canada (IBC) has revamped its social media site to make the fraud-related content more prominent. The site, http://getintheknow.ibc.ca/, provides resources to help Canadians understand the issue of fraud recognize the red flags associated with scammers. IBC’s Twitter feed (@InsuranceBureau) provides updates with links to fraud-related content and generates discussion on the issue […]
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