Industry
SCM Insurance Services has purchased the independent medical assessment division of Medisys, SCM’s second acquisition of an independent medical examiner (IME) in 30 days. Medisys is a national provider of preventive health programs, independent medical assessments, travel health and medical imaging services, as well as health-related underwriting services for insurance companies.SCM announced its acquisition of […]
By Canadian Underwriter | December 9, 2011
2 min read
The CIP Society has honoured four insurance professionals with 2011 National Leadership Awards. Glenn Gibson, executive vice president and global chief strategy office at Crawford & Company, is an award recipient in the Established Leader category. An award recipient in the Established Leader category is an industry veteran who has demonstrated an ability to lead […]
1 min read
Gore Mutual Insurance Company is donating an additional $50,000 to the United Way of Cambridge and North Dumfries. Gore learned that the United Way was facing a significant shortfall in its 2011 campaign and upped its donation to help fill the void. This additional donation brings the company’s 2011 United Way contribution to more than […]
Insurers can reduce catastrophe model uncertainty and better estimate risk by adopting a multi-model approach, a Guy Carpenter report says.In Managing Catastrophe Model Uncertainty: Issues and Challenges, Guy Carpenter examines three strategies for using multiple models to narrow the “uncertainty band” inherent with the use of cat models. The uncertainty band is the plausible range […]
By Canadian Underwriter | December 8, 2011
Travelers Canada has launched a product designed to limit cyber exposures and manage associated risks.‘CyberRisk’ is the newest addition to Travelers Financial and Professional Services line. It’s a standalone product with 10 coverage options that address exposures and the ripple effects associated with a cyber-related event. Third party liability coverage includes network and information security […]
Aviva Canada Inc. and Hagerty Canada LLC have partnered to launch the ‘Hagerty Silver Wheel Plan.’The plan offers Canadian antique and classic car enthusiasts extensive coverage, including agreed value coverage – with no appraisal requirements – and access to Hagerty’s extensive network of products and resources in the United States. As of Jan. 1, 2012, […]
Standard & Poor’s continues to view terrorism risk as a critical component in its assessment of an insurer’s financial strength, saying a man-made catastrophe would most likely be a capital event rather than an earnings event.Standard & Poor’s made the observation in a report released on Dec. 8 entitled, Ten Years Later, Terrorism Exposure Remains […]
Young drivers aged 16 to 24 overwhelmingly agreed they would not be able to drive safely after consuming alcohol, a Road Safety Monitor poll by the Traffic Injury Research Foundation (TIRF) found. The public opinion poll investigated a variety of drinking and driving behaviours and attitudes among youth, including riding with a drunk driver. Of […]
By Canadian Underwriter | December 7, 2011
Companies expect to see corporate use of social media expand over the next year, including in marketing efforts, but many do not have a plan in place to deal with the risks. Financial Executives Research Foundation Inc. (FERF), working in partnership with Grant Thornton LLP, developed a 23-question online survey and conducted in-depth interviews to […]
Chesterfield Canada Inc. has launched a mobile plant and machinery equipment floater program. The product is designed to pay for loss or damage to an insured’s mobile plant in the event of an accident and is broad form “all-risks” cover. In some instances, coverage can be extended to include equipment breakdown and any resultant loss. […]
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