Industry
By proactively mitigating against fraud and investing in anti-fraud practices, insurers can see a potential return on investment of 7:1, according to Jeffrey T. Bowman, president and CEO of Crawford & Company. In the fall issue of Claims Advisor, Bowman notes that in today’s economic climate insurers around the world have developed a reduced tolerance […]
By Canadian Underwriter | October 20, 2010
2 min read
CARSTAR Automotive Canada Inc. announced the grand opening of CARSTAR Express South, in Edmonton, Alberta.The 2,000 square foot facility specializes in small repair, paintless repair, detailing and 3M paint protection film application. CARSTAR’s Express model specializes in the less severe damage done to vehicles – parking lot dents, scrapes and dings. The South Edmonton location is […]
1 min read
Catastrophe reinsurance prices in the US have continued to soften, despite heavy losses so far in 2010, reports Guy Carpenter.The trend is also true on a global level, save for a few local areas like Chile, that experienced catastrophic events, it adds. The decline in prices vary by region, exposures and loss history, but generally […]
Catlin Canada will be expanding its presence across the country with the opening of two new offices – one in Montreal and one in Vancouver.The two offices will begin operating in early November, a Catlin release says.Pat Bruzzes, will lead the Montreal office. Prior to his new post he headed the Montreal office of GCAN […]
By Canadian Underwriter | October 19, 2010
Manitoba Public Insurance (MPI) of Canada has gone live with FINEOS Claims to manage its claims for personal injury.FINEOS Claims is a Web-based universal claims software solution for property and casualty, life, disability and government insurance. “The project at MPI was designed and implemented within budget and on time and will be used by 200 […]
State Farm has partnered with the University of Western Ontario’s Insurance Research Lab for Better Homes (IRLBH), also known as the “Three Little Pigs Project,” to help discover ways to make homes safer and building materials stronger.Since December 2009, State Farm has invested $94,181.80 towards research initiatives with the IRLBH. “Specifically, State Farm helps fund […]
Recent commodity price spikes and the current trend of “easy” monetary policy have increased inflation concerns in the insurance market, reports Swiss Re.In its latest sigma study, ‘The Impact of Inflation on Insurers,’ Swiss Re notes that extended periods of accelerating inflation are especially problematic for long-tail lines of business.”Insurers can mitigate the impact by […]
The Financial Services Commission of Ontario (FSCO) has outlined a process that an insurer must follow when it makes public an arbitrator’s decision regarding benefits in the company’s dispute with another insurer. In May 2010, FSCO announced that for accidents that occur on or after Sept. 1, 2010, insurers found by an arbitrator to be […]
By Canadian Underwriter | October 18, 2010
CAA Insurance (Ontario) has implemented SCM Risk Management Services’ iClarify into its property intelligence services for CAA Insurance agents and call centres servicing Ontario and Atlantic Canada.”We are very excited to have been chosen to work with CAA and to deliver iClarify services into the direct writer, agency and call centre insurance distribution channel,” said […]
Tim Hudak, leader of the Progressive Conservative Party of Ontario, will serve as a keynote speaker at the Insurance Brokers Association of Ontario (IBAO)’s Annual Convention.Hudak will deliver his speech on Thursday, Oct. 21 at 9:15 am. The Convention runs from Oct. 20 to 22 in Niagara Falls, at the Sheraton on the Falls. The […]
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