Industry
Keal Technology has launched software to support brokers through the implementation of the Ontario auto insurance reforms, which take effect Sept. 1, 2010.To comply with Financial Services Commission of Ontario (FSCO)’s reform standards, a special release of Keal’s Broker Management System sigXP was developed and released ahead of schedule, a Keal release says. The most […]
By Canadian Underwriter | July 21, 2010
1 min read
The debate about whether or not commercial brokers should accept contingent commissions has heated up again, with brokerages drawing a line in the sand when it comes to whether or not they will use the remuneration approach.The New York Attorney General banned contingent commissions for the three global brokers, Willis, Marsh and Aon, in 2005.Five […]
CARSTAR Automotive Canada has announced a series of appointments to its corporate management team.Lisa Mercanti-Ladd has been promoted from senior director to the assistant vice-president of marketing and client services. Throughout her tenure at CARSTAR, she has led marketing and insurance initiatives.Michael Macaluso will serve as quality systems manager. He joined CARSTAR’s insurance team two […]
By Canadian Underwriter | July 20, 2010
Bank-owned insurers have effectively doubled their market share in personal lines between 2000 and 2009, according to the MSA/Baron Outlook Report Q1-2010.Meanwhile, the broker channel has seen its market share in personal lines sink over the past decade from 66.6% to 59.5%.”With the current rules in place, TD and RBC are chewing their way in […]
The Canadian Securities Administrators (CSA) has published for comment a proposed plan to introduce securities regulatory oversight of credit rating organizations.”Many investors consider credit ratings as one of the factors in making investment decisions, and ratings continue to be referred to within securities legislation, so it is important to develop a formal regulatory regime for […]
By Canadian Underwriter | July 19, 2010
Facility Association (FA) has undertaken a survey to help assess the impact of various current issues – product reform, constitutional challenges, changes in reserving and reporting practices, HST, etc. – on its risk-sharing pools (RSPS).”We expect the information to provide some of the insights necessary to identify and better allow for changes in RSPS experience,” […]
By Canadian Underwriter | July 16, 2010
Cunningham Lindsey has launched a Marine Specialist Practices Group (SPG). The group has 66 marine experts in 21 countries providing a range of specialist services. These include: • cargo surveys; • pleasure craft loss adjusting and appraisal; • particular and general average (which relates to who pays compensation); • marine third party administration (TPA) and […]
Chartis is reportedly interested in introducing a LEED insurance product in Canada that would help protect companies’ reputations in a lawsuit if the company failed to meet LEED certification.The Leadership in Energy and Environmental Design (LEED) is a green building rating system that encourages sustainable development practices. In an online article by Daily Commercial News […]
Risk management systems must take into account the effects of globalization if they are to help risk managers avoid increasingly inter-related risk exposures, according to Lord Levene, Lloyd’s chairman. “We cannot simply try to hide away from risks, which travel further and faster than ever before,” he said during the launch of the new Lloyd’s […]
The St. Lawrence Seaway Management Corporation (SLSMC) is reporting that an oil spill in the St. Lawrence Seaway following the grounding of the Canada Steamship Lines (CSL) bulker Richelieu has been contained by a series of booms, although the cleanup is still “progressing.”The Richelieu was carrying a shipment of wheat at approximately 7:30 p.m. on […]
By Canadian Underwriter | July 15, 2010
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