Industry
Aon Benfield has launched a new market analysis team within Aon Benfield Analytics. The market analysis team, which evolved from Aon Benfield Research, will provide in-depth reports on reinsurers and insight into reinsurance market trends. Aon Benfield Research will now focus entirely on the firm’s academic and industry research collaboration.The decision to form a dedicated […]
By Canadian Underwriter | March 10, 2011
1 min read
Four filmmakers received awards after winning top spot in the Insurance Corporation of British Columbia’s 180 short-film contest during an awards gala held in Vancouver on Mar. 9. The contest invited youth between 19 and 25 years old to make short films about speeding, impaired driving or distracted driving that would cause other young drivers […]
Solvency II capital requirements may put pressure on insurers to diversify their risks, which is likely to generate incentives for mergers and acquisitions activity within the insurance industry, according to a March 2011 report by Guy Carpenter. The report, Succeeding Under Solvency II, discusses a number of observations related to the forthcoming application of Solvency […]
The Manitoba Ombudsman is calling on Manitoba Public Insurance (MPI) to be quicker in its response to access to information applications.The ombudsman conducted an audit of MPI’s responses to requests made under the province’s Freedom of Information and Protection of Privacy Act (FIPPA). Requirements under the FIPPA are to make “every reasonable effort to respond […]
Sharon Edwards has been appointed chief financial officer for Willis North America. Edwards previously served as chief administrative officer for Willis North America beginning in 2009. She will be responsible for all aspects of Willis North America’s finance functions, including transactional accounting, financial planning and analysis, reporting, and the financial operations of each region within […]
By Canadian Underwriter | March 9, 2011
Record-setting, heavy rainfall in parts of southern and eastern Ontario and Quebec caused a surge in claims volume on Mar. 5-7, according to Crawford & Company (Canada). Some areas saw as much as 18.4 mm of rain on Saturday, beating the previous record of 16.3 mm set in 1959.Crawford & Company (Canada)’s CLAIMSALERT contact centre […]
AXA Pacific Insurance Company, a subsidiary of AXA Canada, has released a new Buy Online car insurance solution for Alberta motorists. Billed as a first of its kind, AXA Pacific says its “hybrid approach” offers consumers a choice between a direct online sale and a broker-driven online sale. Consumers entering through www.axa.ca select a broker […]
Environmental concerns related to a process used to extract shale gas – a fuel often hailed as a potential ‘energy saviour’ – have prompted the United States Congress to direct the Environmental Protection Agency (EPA) to study the practice, reports Lloyd’s. Large pools of natural gas are locked in underground rock formations, particularly shale. Concerns […]
By Canadian Underwriter | March 8, 2011
2 min read
Intact Insurance launched its second mass national advertising campaign since the launch of its new brand in February 2009. The campaign promotes the idea that insurance is about people and not things. It’s designed to continue to build on Intact’s “you’re back” customer value proposition, an Intact release says. The campaign consists of television, print […]
In an article outlining Canada’s new requirement for reinsurance security agreements when using unlicensed reinsurance, McMillan LLP has raised the alternative possibility of administering an unlicensed reinsurance agreement on a “funds withheld” basis instead.Canada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), has changed the mechanism by which Canadian insurers are allowed […]
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