Industry
Fix Auto Ontario, Alberta and Atlantic Canada has announced a series of appointments within the organization.These appointments include:• Athena Hilts, managing director;• Tony Desantis; senior insurance account executive; • Kelly Polito, insurance account executive for Fix Auto Alberta;• Peter Polito, general manager/developer for Fix Auto Alberta;• Sylvia Roccia, marketing communications manager;• Jamie Rodrigues, insurance account […]
By Canadian Underwriter | August 24, 2010
1 min read
Canadian offshore petroleum boards have not increased their liability limits for third party damages or clean-up in the event of a spill for 24 years, and as such should consider bringing them in-step with “current economic realities,” according to a Senate report. The Energy, Environment and Natural Resources Committee, formed following the Deepwater Horizon oil […]
By Canadian Underwriter | August 23, 2010
2 min read
The Canadian Radio and Telecommunications Commission (CRTC) decided its unsolicited telemarketing rules apply equally to insurance agents and brokers and investment and financial advisors. The commission’s Unsolicited Telecommunications Rules include the National Do Not Call List and the Automatic Dialing-Announcing Device (ADAD) Rules.Previously, the rules did not apply to investment or financial advisors – a […]
Fitch estimates that U.S. property and casualty industry reserves at year-end 2009 are between 1% deficient and 2% redundant.In its report, Are Redundancies Exhausted?, Fitch noted that the hard market years of the mid-2000s continued to prove more profitable than anticipated, but that future redundancies for these more mature accident years will likely continue at […]
The Financial Services Commission of Ontario (FSCO) released an updated guideline with respect to Health Claims for Auto Insurance (HCAI) to reflect the new Statutory Accident Benefits Schedule effective Sept. 1, 2010. The Health Claims for Auto Insurance September 2010 Guideline – Superintendent’s Guideline No. 07/10 mandates the transmission of certain accident benefit forms – […]
The Autorité des marches financiers (AMF) has extended the transition period for the sale of replacement guarantees by two months to Sept. 30, 2010.As a result, the date set for full and final implementation of the new rules governing replacement insurance and use of the AMF-approved form is now Oct. 1, 2010. Previously the deadline […]
By Canadian Underwriter | August 20, 2010
Canadians appear to be very wary of using their mobile devices for making online purchases and conducting financial transactions, according to KPMG.In its report, Consumers & Convergence IV survey, KPMG compared the habits and concerns around the world regarding the use of mobile devices for conducting financial transactions.Only 19% of Canadians feel comfortable using their […]
Insurance companies can now validate lightning strikes using the lightning strike data archive launched by The Weather Network. In Canada, lightning is responsible for more than $5 billion in total insurance industry losses annually, The Weather Network reports. The archive of data is designed to help companies authenticate lightning strikes as a possible cause for […]
Chesterfield Canada Inc., a specialist independent wholesale broker, has launched home appliance and systems warranty covers. The new products serve as endorsements to standard buildings and contents policies. It’s designed to ease the worries surrounding moving into a newly purchased property, and the potential burden of suffering a breakdown or failure of large appliances.”We wanted […]
Canadian property and casualty insurance brokerages increased operating profitability by roughly 5% between 2007 and 2009, reports Berris Mangan Consulting Inc.In its study, Property & Casualty Insurance Brokerage Industry Report, Berris Mangan Consulting surveyed 285 Canadian P&C brokerages. In 2009, the average operating profitability of the sample stood at 30.6%, an increase from 2007’s 25.3%, […]
By Canadian Underwriter | August 19, 2010
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