Industry
Solvency II’s more precise measure of solvency will be more prone to volatility, Guy Carpenter reports. The widespread use of the Solvency II standard model and internal capital models, in conjunction with market-consistent accounting of assets and liabilities, could contribute to shorter, more volatile underwriting cycles, Guy Carpenter says in its report, Solvency II’s Impact […]
By Canadian Underwriter | October 6, 2011
2 min read
Insurance Bureau of Canada (IBC) is reminding homeowners in the Maritimes to contact an insurance representative immediately if their properties or belongings suffered damage during a storm that hit the area on Oct. 5.On Oct. 5, a ‘Nor’easter’ moved over eastern Quebec, New Brunswick, parts of Nova Scotia, Prince Edward Island, Newfoundland and Labrador. It […]
1 min read
Insurance Brokers Association of Ontario (IBAO) has partnered with the Ontario Students Against Impaired Driving (OSAID) to remind Ontario’s students travelling over the Thanksgiving holiday to exercise caution and to not drink and drive.”It’s an exciting time of year, as many first year college students head home for their first school break,” said IBAO CEO […]
Forensic Investigations Canada (FIC) has joined forces with Garda Investigative Services (GIS).FIC and GIS have entered into a strategic client referral agreement that “positions FIC as the provider of choice for corporate investigations outside of the Province of Quebec,” an FIC release says.”This alliance unites the country’s top investigative service providers under one roof in […]
By Canadian Underwriter | October 5, 2011
A recent Transport Canada report found that between four and eight large animal vehicle collisions take place every hour in Canada, State Farm says in a press release.In addition, the Ontario Ministry of Natural Resources estimates there is a motor vehicle-wild animal collision every 38 minutes; approximately one out of every five motor vehicle collisions […]
Volkswagen and Audi vehicles are now available on Audatex North America’s ‘AudaVIN,’ a vehicle identification technology solution.AudaVIN uses vehicle identification number [VIN] data to give insurance claim representatives, appraisers and collision repair estimators complete vehicle-specific information recorded by manufacturers on the production line. “With more options and packages than most other automobiles, luxury vehicles can […]
A proposal to increase Nova Scotia’s standard accident benefits package up to the higher limits contained in a Section 48 endorsement would result in an average premium increase of between $6 and $7.50 per driver. The Nova Scotia Utility and Review Board made the estimate in response to specific questions posed by the province’s finance […]
The Office of the Superintendent of Financial Institutions (OSFI) has revised its Minimum Capital Test (MCT) guidelines for property and casualty insurers, effective Jan. 1, 2012.OSFI requested industry feedback for a draft MCT guideline in May. As a result of the feedback from industry, OSFI it made the following “key changes” to its MCT, among […]
By Canadian Underwriter | October 4, 2011
Glenn Gibson, senior vice president of global strategy, projects and development at Crawford & Company (Canada) Inc. is the recipient of the Canadian Insurance Professional (CIP) Society’s ‘2011 Established Leadership Award.’The award recognizes individuals who have shown exceptional leadership abilities and a strong commitment to upholding the CIP Society’s tenets of imparting knowledge and instilling […]
New SUVs and pickups pose far less risk to people in cars and minivans than previous models, according to the Insurance Institute for Highway Safety (IIHS) Until recently, SUVs and pickups were more likely than cars or minivans of the same weight to be involved in crashes that killed occupants of other cars or minivans, […]
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