Industry
ClearRisk has launched version 2.0 of its Manager application, intended to add speed and functionality.ClearRisk Manager (ClearRiskManager.com) was created to provide insurance brokers with an affordable way to provide clients with risk management plans, risk maps and risk management resources. ClearRisk Manager 2.0 is four times as fast as the original version. It can be […]
By Canadian Underwriter | June 22, 2010
1 min read
Canada’s Competition Act is the main reason why the Insurance Bureau of Canada (IBC) will have nothing to do with the idea of insurers requiring brokers to use a single cost calculator for the purpose of calculating the reconstruction costs of a home.The idea of insurers governing the brokers’ use of a single calculator was […]
By Canadian Underwriter | June 21, 2010
2 min read
Home and Garden Television (HGTV) and Home Depot are two main culprits responsible for the escalation of water damage claims costs, according to Will Cook, president of Belfor Restoration Services.These two cultural icons are fuelling the impulse to undertake an “extreme home makeover,” encouraging so-called “weekend warriors” to transform their modest, 2,200-square-foot homes into 8,000-quare-foot […]
The Insurance Brokers Association of B.C. (IBABC) is collaborating with the province’s public insurer, the Insurance Corporation of British Columbia (ICBC), to introduce ‘Vision 2014,’ a plan to upgrade the public insurer’s technology and change its rating system from a vehicle plate-based system to a driver-based system.Newly-minted IBABC president Richard Pindral raised the collaboration in […]
By Canadian Underwriter | June 18, 2010
The Insurance Brokers Association of Canada (IBAC) is gearing up for the 2012 Bank Act review, urging brokers to get politically involved in advance of the federal government’s mandatory five-year review of the legislation.”We have to be ready to represent our views and those of Canadian consumers, because that is how we will maintain the […]
The Insurance Broker Association of Saskatchewan (IBAS) is concerned about SGI’s proposed 35% reduction in broker commissions for online vehicle renewals.The public insurer has taken the position that online self-service or payment on any other transaction should result in savings and therefore broker commissions should be reduced.”SGI is determined to find savings in the distribution […]
The Canadian reinsurance and insurance markets are far more stable than their U.S. counterparts, said Hans Rohlf, managing director North America and chief underwriting officer at Hannover Re.Rohlf was speaking during a presentation, Hannover Re Views of the Canadian Market, in Niagara-on-the-Lake on June 16.Between 1996 and 2006 the average combined ratios for the Canadian […]
By Canadian Underwriter | June 17, 2010
Social networking will get “a lot more social” over the next three to five years, and the insurance industry should be exploiting media such as Facebook now, before losing an opportunity to become unique trend-setters in this area, according to author Jeremy Gutsche.Gutsche, author of the book Exploiting Chaos and the founder of TrendHunter.com, was […]
3 min read
Given predictions of a worker shortage in Canada by 2015, and keeping in mind that Generation Y employees work an average of only four years for one company before moving on, it is especially important for the insurance industry to find ways to retain Generation Y workers, says Wayne Kehl, president of the management consulting […]
Willis Re is opening an office in Toronto on Sept. 1 to complement Willis Group’s current presence in the city. “Adding an office in Toronto will enable us to build on our success in Canada and offer an enhanced level of service to our current and future clients,” Peter Hearn, CEO, Willis Re, said in […]
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