Industry
CARSTAR Automotive Canada Inc. has added a fourth location to the Ottawa market, in Kanata. CARSTAR Kanata (Allard’s) has more than 22,000-square-feet of production space, making it one of the largest collision centres in CARSTAR’s network. The building has approximately 2,000 square feet of office space for its 44 employees. The facility’s array of equipment includes […]
By Canadian Underwriter | January 31, 2012
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Floods that devastated Thailand’s industrial parks in 2011 have created opportunities for Canadian and other foreign companies to invest in local reinsurers that are in dire need of new capital, A.M. Best says.The flooding in Thailand resulted in an estimated $15-billion insured loss, A.M. Best reported in its Asia-Pacific edition of BestWeek. Consequently, local reinsurers […]
Karen Clark & Company (KCC), independent experts in catastrophe risk, catastrophe models and catastrophe risk management, is introducing Characteristic Events (CEs), a new tool to assist insurance companies in assessing and managing catastrophe risk.CE intensity “footprints” are created using the same scientific data underlying the catastrophe models. They represent a catastrophic event characteristic of the […]
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The increasing integration of advanced vehicle technology (AVT) into vehicle design means insurers will have difficult decisions to make in the future about financing “cosmetic” versus “functional” repairs, delegates at the Canadian Collision Industry Forum (CCIF) heard in Toronto on Jan. 28.In a panel discussion, presenters and audience members – including collision repair centre representatives, […]
By Canadian Underwriter | January 30, 2012
ACE Canada, the Canadian-based operating division of the ACE Group, has appointed Steven Lucas as vice president of national accounts. Lucas will be responsible for leading the business development strategy and will act as the principal contact for ACE Canada’s national account segment. He will report to David Brosnan, country president of ACE Canada. Lucas […]
Volatile capital markets and expanding regulations will challenge Canadian property and casualty insurers in 2012, but there are opportunities for success if insurers make the right moves, Ernst & Young says.”To reposition strategically for growth and remain high performers, insurers have to focus on innovation, taking data analysis to new levels and using social networks […]
The Insurance Brokers Association of Ontario (IBAO) has launched a new website tool, MyInsuraceShopper Know Your Stuff-Home Inventory, a free online home inventory software for consumers. The application was designed to help consumers create and update their home inventory easily and efficiently, all within the digital space. It includes free, secure online storage, so consumers […]
Advances in safety technology occur at a rapid pace, but it takes decades for these safety features to spread through entire fleets of vehicles, reports the Insurance Institute for Highway Safety (IIHS).According to the IIHS, it takes at least 30 years for a promising safety feature to spread to 95% of vehicles on the road. […]
By Canadian Underwriter | January 27, 2012
Canadian Underwriter and Swiss Re have teamed up to present a webinar on ‘Making Flood Insurable for Canadian Homeowners,’ on Feb. 16, 2012.The free presentation will be streamed live from 10 a.m. to 11 a.m. EST (Eastern Standard Time).Dr. Jens Melhorn, head of Swiss Re’s flood group, and Paul Kovacs, executive director of the Institute […]
The Organization of Real Time Brokers Implementing Technology (ORBiT) has appointed John Foreman as interim executive director. ORBiT Canada is a national not-for-profit organization of Canadian insurance brokers and carriers dedicated to the advancement of real time transactions in the broker distribution channel. Foreman has served as the vice president of corporate marketing fro CGI […]
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