Industry
Insurers and brokers are facing a “perfect storm,” including a data arms race among third party data collectors, business owners and senior executives seemingly out of touch with emerging technologies, changing consumer patterns in post-PC age and a lack of adequate investment in core technologies. “As with any storm, it will cleanse the landscape, wash […]
By Canadian Underwriter | March 6, 2012
2 min read
British Petroleum (BP) has reached a $7.8 billion settlement with the plaintiffs’ steering committee (PSC) for the economic loss and medical claims stemming from 2010 Deepwater Horizon accident and oil spill. The settlement is subject to final written agreement. BP estimates that the cost of the proposed settlement to be $7.8 billion. The settlement is […]
By Canadian Underwriter | March 5, 2012
Policy Works Inc. has launched a mobile app for commercial-lines. The Policy Works Producer App will be released early April to a select group of brokers for beta testing. The general release is slated for July 2012. To use the Producer app, brokers must be customers of Policy Works and running the current version of […]
1 min read
The U.S. NOAA (National Oceanic and Atmospheric Administration) has thus far confirmed 45 tornadoes between March 2 and 3 and the number is expected to rise as its surveys are completed. 127 twisters were ‘reported’ to have hit eleven states killing at least 39 people and causing widespread property damage, according to Guy Carpenter. The reported number of tornados […]
InsuranceHotline.com has partnered with InsurEye Inc. to promote an online tool that allows consumers to compare credit cards and the insurance coverage each card offers. The free online tool is designed to allow consumers to: InsurEye has analyzed the details of insurance policies associated with more than 160 credit cards from all major banks and […]
The YOURS (Youth for Road Safety) ‘Surreal Poster Series’ was presented with a Good Design Award at The Chicago Athenaeum. YOURS is a global youth-led non-governmental organization for road safety. The ‘Surreal Posters’ depict drivers, cyclists and pedestrians in five situations that illustrate their vulnerability on the road when failing to take simple precautionary measures. […]
Real Matters, the parent company of iv3 CUS, a property and casualty insurance inspection provider, is a 2011 winner of Canada’s 50 Best Managed Companies program. The company was also ranked the 7th fastest growing North American technology company on the Deloitte Fast 500TM and 6th in the ‘Growth Companies’ category of the Branham 300. […]
Renting a cottage is itself becoming a cottage industry. The question is: what are the insurance implications of having unknown holiday weekenders descending on your summer property? The Globe and Mail reports that the trend to rent out cottage properties for periods to the summer has become much more rationalized, with the appearance of several […]
By Canadian Underwriter | March 2, 2012
Given the proliferation of new technology-based outsourcing services such as cloud computing, the Office of the Superintendent of Financial Services (OSFI) is reminding federally regulated insurers that its expectations contained in Guideline B-10 continue to apply. OSFI issued its revised Guideline B-10, Outsourcing of Business Activities, Functions and Processes, in March 2009. The guideline sets […]
The CIP Society has announced its call for nominations for the 2012 National Leadership Awards, a national program recognizing excellence in the property and casualty insurance industry. The awards are divided into two categories: ‘Established Leaders’ and ‘Emerging Leaders.’ The judges will recognize CIP Society members who lead by example and promote leadership through their […]
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