Industry
The Geneva Association, an international insurance sector think tank, is asking the G-20 to formally recognise that traditional insurance activities do not give rise to systemic risk.In an open letter to the finance ministers of the G-20 states, the Geneva Association has asked the G-20 to “state clearly that any non-core insurance activities will be […]
By Canadian Underwriter | November 2, 2011
1 min read
Intact Financial Corporation (TSX: IFC) reported a net income of $101 million in 2011 Q3, marking an $8-million decrease from 2010 Q3’s net income.The decrease reflects $29-million worth of integration-related costs recorded in 2011 Q3 following Intact’s acquisition of AXA Canada.The combined ratio improved by 2.4% year-over-year (to 94.2%) despite $53 million in catastrophe losses […]
The Traffic Injury Research Foundation (TIRF) will conduct a study on the behavioural patterns of interlocked offenders and on the features of effective programs.Under an interlock program, a small, hand-held, breath-testing device is fitted to a vehicle’s ignition. A driver must blow into the device; if alcohol is detected and is higher than a pre-set […]
A snowstorm along the East Coast of the United States in late October “could generate thousands of insurance claims,” according to the U.S. Insurance Information Institute (III).Bloomberg reported on an email exchange it had with cat modeler Kinetic Analysis Corporation, in which Kinetic estimated both insured and uninsured losses could fall in the range of […]
By Canadian Underwriter | November 1, 2011
The Dominion has sent out a bulletin to brokers indicating the company’s support for e-document technology and the data exchange project launched by the Insurance Brokers Association of Canada (IBAC).”The broker-company technology touch point is an area that has seen increased attention in industry forums and in the insurance media across the country,” the bulletin […]
2 min read
SCM Insurance Services has acquired Riverfront Medical Services, a provider of independent medical evaluations.The acquisition signals SCM’s entrance into a product and market segment that is “complimentary to the continuum of insurance and risk management services it currently offers its clients,” an SCM release says. SCM identified the IME market as a “natural extension to […]
L’Association de la relève en assurance du Québec has elected a new board of directors.The new board consists of: •Mathieu Brunet (chair);•Anne-Marie Deschênes;•Caroline Cormier;•Andréanne Paquet;•Vincent Lessard-Phillips;•Genevieve Ducharme;•Benoit Tessier;•Marie-Josée Lefebvre;•Mathieu Villemure; and•Michael Leveille. “With our new team, LARAQ will continue its work in the field and organize events to bring together the industry players [of] the […]
Officials believe the Slave Lake fires were caused by arson, based on Alberta’s investigation. On May 14 the community of Slave Lake, Alta was gutted by a wildfire, resulting in more than $700 million in damages – the second costliest insured loss in Canadian history. It destroyed 4,700 hectares and about 400 structures and forced […]
Information sharing among insurers is required to resolve some of the key dilemmas the industry faces going forward.
By David Gambrill, Editor | October 31, 2011
3 min read
Key performance indicators point to the importance of sharing information with consumers, most notably in the area of billing.
By Lubo Li, Senior Director and Practice Leader, J.D. Power and Associates (Toronto) | October 31, 2011
4 min read
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