Industry
Pembridge Insurance and Applied Systems Canada are launching a joint venture to offer real-time transactions aimed at improving broker workflows.Pembridge’s Broker Connectivity solution will soon deliver billing and policy inquiry functionality to brokers using Applied Systems TAM (The Agency Manager) and WARP, Applied Systems’ real-time technology. Using this technology, brokers’ workflow will begin and end […]
By Canadian Underwriter | March 22, 2011
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Canadian researchers have announced the development of the first permanent anti-fog treatment that might be applied in the future to car windshields.Led by Professor Gatean Laroche, Laval University researchers published their findings in the journal Applied Materials and Interfaces. The fog-proof coating has not been tested on vehicles.”Despite the development of several anti-fog coating strategies, […]
By Canadian Underwriter | March 21, 2011
Global Ag Risk Solutions, working with Lombard Canada Ltd., is offering a private, multi-peril, revenue-based risk management solution available to about 400 Western Canadian farmers.Independent of all government programs, the solution provides guaranteed revenue above a farmer’s input costs (seed, fertilizer, chemicals), based on an appraisal of the farm’s financial track records. The insurance is […]
MPI is retroactively enhancing its benefits package for victims of auto crashes. The enhancements, expected to cost about $40 million, will include:• enhanced coverage for extraordinary expenses for leisure and recreational activities. For example, MPI would pay for a specialized sport wheelchair to allow a paraplegic claimant to continue to be active in sports;• travel […]
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RMS estimates the economic losses resulting from the March 11 Tohoku earthquake and tsunami in Japan will range between $200 and $300 billion. The quake and tsunami “is a complex ‘super cat’ event, where the final costs will not only reflect the level of direct damage to property from strong shaking and the catastrophic tsunami, […]
The Ottawa-based Traffic Injury Research Foundation (TIRF) will study the effectiveness of graduated driver licensing programs that incorporate parental involvement.TIRF is teaming up with Data Nexus Inc. and the Texas Transportation Institute to conduct the study. The study is scheduled for completion in winter 2012.”While most GDL programs incorporate formal or informal parental involvement components […]
By Canadian Underwriter | March 18, 2011
The energy market will likely see the “softening dynamic” slow or come to a halt following the Japan earthquake and tsunami, Willis said in its Energy Market Report.”For example, some insurers have issued statements that they will not be offering any rate reductions on business; any exceptions will require executive referral and extraordinary circumstances,” the […]
The Insurance Brokers Association of Ontario (IBAO) are reminding consumers to take the necessary precautions to protect their homes and belongings from water damage during the spring melt.The combination of the melting snow and the influx of precipitation over the past days has caused water levels to reach unprecedented highs, an IBAO release says. The […]
The reinsurance industry is prepared to absorb Japan earthquake and tsunami losses, said the Reinsurance Association of America (RAA).With a capital position that stood at $470 billion at the end of 2010 Q3, the global reinsurance industry once again stands ready to pay a significant share of the insured losses from the March 11 Japan […]
Small and mid-size firms, the most vulnerable to Solvency II’s heightened capital requirements, may consider diversification and divestiture to lessen the impact of capital charges, reports Guy Carpenter.Increasing reliance on reinsurance is an obvious solution to meeting additional capital requirements, but firms may “also be able to impact their capital charges by either increasing writings […]
By Canadian Underwriter | March 17, 2011
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