Industry
Manitoba Public Insurance (MPI) has selected Mitchell International Inc.’s TechAdvisor for its source of real-time collision repair reference data for all of its service centres. Mitchell’s online portal will give MPI estimators access to OEM repair procedures – along with the latest parts, prices and labor times – from a single source.”The solution enables our […]
By Canadian Underwriter | January 13, 2011
1 min read
Investment income boosted the Canadian property and casualty industry’s financial results in 2010 by more than 11%, but two-thirds of that investment income was generated through the investment of “static” excess capital, said Philip Cook, CEO of Omega General Insurance Holdings.Cook spoke at the Insurance Institute’s ‘Annual Industry Trends Breakfast’ of 2011.Based on the industry’s […]
2 min read
Risk managers should be careful not to “over-treat” their company’s risks, panelists told an Ontario Risk and Insurance Management (ORIMS) seminar in Toronto on Jan. 12.Panelists defined “treating” risks as modifying the source of risk, as opposed to controlling or mitigating the risk. For example, fastening a seat belt or installing a baby seat in […]
By Canadian Underwriter | January 12, 2011
Personal auto insurance quotes in Ontario increased 9.5% in 2010 Q4, while decreasing 4.9% and 0.4%, respectively in Quebec and Alberta when compared to 2009 Q4, reported kanetix.ca.Kanetix’s rate review is determined by taking an average of all the quotes upon which shoppers acted in 2010 Q4 and comparing that to the average from the […]
Risk managers monitoring risk management plans need to be mindful that organizations’ executives are feeling over-monitored in the wake of the financial crisis of 2008-09. As a result, if risk managers can think of any ways to reduce redundancy in how companies monitor or audit their risk management plans or controls, company executives would obviously […]
The frequency and severity of risks to global stability have amplified, while the financial crisis has drained the ability of global governance systems to deal with shocks, according to the World Economic Forum (WEF)’s Global Risks 2011, Sixth Edition.”Twentieth century systems are failing to manage 21st century risks; we need new networked systems to identify […]
The British Columbia Automobile Association (BCAA) is conducting an online survey to determine whether or not B.C.’s ban on hand-held cell phone use and texting while driving has actually changed driver habits.B.C.’s ban on cell phone use while driving has been in place for one year.”In a previous survey conducted at the six-month mark, we […]
By Canadian Underwriter | January 11, 2011
A.M. Best has revised its outlook to negative from stable for U.S. commercial lines for 2011. The revision implies that negative rating actions will outnumber positive rating actions in 2011, despite the fact that the vast majority of rating actions will be affirmations.”The outlook change reflects A.M. Best’s expectation of continued competitive market conditions, gradual […]
The Risk and Insurance Management Society (RIMS) has a new look. The association unveiled its new logo and tagline, ‘the risk management society.’The logo incorporates three stripes, swooping upwards, representing its key areas of service to its members: resources, networking and education, a RIMS release says.The stripes also represent upward movement, eventually joining together to […]
Travelers Canada has added Ross Betteridge, Kevin Pinto and Jean-Pierre Gagnon to its management team. Betteridge has been named executive vice president and chief operating officer and will be responsible for strategy, finance, actuarial, information technology and communications and branding. Betteridge joined the company as chief financial officer in May of 2010 after holding a […]
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