Industry
The Canadian Council of Insurance Regulators (CCIR) is seeking comment from the insurance industry on its issues paper, Best Practices for Regulatory Surveys.”The implementation of the principles outlined in the CCIR paper An Approach to Risk-Based Market Conduct Regulation has resulted in a noticeable increase in the number of information-gathering surveys that various insurance regulators […]
By Canadian Underwriter | April 29, 2011
2 min read
Insurance Bureau of Canada (IBC) is partnering with Emergency Management Ontario (EMO) to present the Emergency Preparedness Challenge for the second year in a row. The challenge runs from Apr. 29 to May 31 at www.ontario.ca/beprepared. It consists of five short, age-appropriate questions about emergency preparedness. By taking the challenge, Ontarians will become better aware […]
By Canadian Underwriter | April 28, 2011
1 min read
One-in-five Canadians under the age of 35 admit they have purposely lied or omitted important facts when filling out an insurance application, according to a study by TD Insurance. TD Insurance commissioned Environics Research Group to conduct a custom online survey of 1,000 Canadian adults. The report is the first of a two-part series, TD […]
The Insurance Institute for Highway Safety (IIHS) crash-tested plug-in electric cars for the first time ever and found the extra weight of the battery packs of the small cars had a positive affect on their safety ratings.The Chevrolet Volt and Nissan Leaf are the first mainstream electric cars the IIHS has tested. Both received the […]
When it comes to the success of new entrants into the Canadian property and casualty insurance market, managerial experience matters, according to a new report by the Property and Casualty Insurance Compensation Corporation (PACICC).The report, Determinants of survivability of new entrants to the P&C industry, is the fifth in PACICC’s ‘Why insurers fail’ series. The […]
By Canadian Underwriter | April 27, 2011
3 min read
Global insurance rate increases were confined to loss-affected exposures, despite record level 2011 Q1 catastrophe losses, according to Marsh. Market conditions in the quarter changed little in regions and for classes of business not affected by recent losses, since overall insurance capacity remains ample, Marsh’s Spring 2011 Insurance Market Update reports. Although more difficult to […]
Many homeowners remain unaware that their most cherished piece of jewelry might not be covered under a standard homeowner or rental insurance policy. “For most consumers, a standard homeowner or rental insurance policy includes coverage for loss to personal property,” State Farm says in a press release. “However, there are deductibles and coverage limits. “For […]
Christine Lithgow has been appointed president of Aon Risk Solutions in Canada. She will be replacing retiring outgoing president Chris Fawcus. Lithgow began her career at Aon predecessor Reed Stenhouse in the United Kingdom before moving to Canada in 1981.In her 30 years with Aon and its predecessors in Canada, she has held several senior […]
The Property and Casualty Insurance Compensation Corporation (PACICC) – which protects Canadian policyholders from a loss in the event of an insurance company insolvency – plans to examine best practices in loss reserving in 2013.The analysis would include how actuarial services and supervisory practices are used in valuing insurers’ risks.PACICC outlined its priority, contained in […]
XN Financial has named Keith Doan as vice president of business development. Based in Toronto, Doan will report to XN Financial executive vice president Paul Coleman.Headquartered in Montreal, XN Financial is a provider of insurance and financial products designed specifically for the needs of international assignees, high net worth individuals and directors and officers of […]
By Canadian Underwriter | April 26, 2011
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