Industry
ACE Canada held a cocktail reception on May 20 to mark the opening of its new corporate headquarters and to celebrate its 25th anniversary. ACE’s new head office is located within the Telus Tower at 25 York Street in Toronto. The Telus Tower is a Leadership in Energy and Environmental Design (LEED) gold building. The […]
May 31, 2010
1 min read
Potting soil planters are causing a surprising new trend of accidental fires in homes, according to John Coull, manager of the Mississauga office of Origin and Cause Inc. Coull was speaking at an A.S.A.P Education Series event, Fire Loss Claims Handling – Investigation to Litigation, just outside Toronto on May 26.Potting soil does not have […]
By Canadian Underwriter | May 31, 2010
2 min read
Canada’s federally regulated property and casualty (P&C) insurers slightly more than doubled their profits in 2010 Q1 compared to the same period of 2009. Canadian P&C insurers fared better than their foreign counterparts.One notable feature of the 2010 Q1 results is significantly declining personal property claims ratios. Overall, Canadian and foreign P&C insurers totalled $835.8 […]
When it comes to auto insurance shopping, the impact of price on new-buyer satisfaction has declined over the past year, according to a J.D. Power and Associates study. Ten per cent of auto insurance shoppers did not select the company with the lowest quote, the J.D. Power and Associates 2010 U.S. Insurance Shopping Study found. […]
Insurance Corporation of British Columbia (ICBC) applied to reduce basic auto insurance rates by an average of 1.9%, effective Nov. 1, 2010.The proposed reduction still requires the approval of the British Columbia Utilities Commission (BCUC).”Rate changes are mainly driven by claims costs, and fewer crashes help us keep our rates low and stable,” said ICBC […]
Aviva Canada, The Economical Insurance Group (TEIG) and The Dominion have announced their intentions to use iClarify validation services delivered by Compu-Quote. This support continues past the pilot phase of the data validation tool into full production.More than 50 Insurance Brokers Association of Ontario (IBAO) member firms utilized iClarify data validation services to provide property […]
QBE European Operations, a specialist business insurer, will open an office in Toronto for the business it writes through Lloyd’s for the Canadian commercial insurance market.David Edgar has been named general manager of the new branch. The Toronto team will develop new business from the Canadian market, and provide local support and claims handling service. […]
By Canadian Underwriter | May 28, 2010
The Insurance Brokers Association of Canada is pleased with federal Finance Minister Jim Flaherty’s proposed regulations that would ban banks from promoting insurance on their banking Web sites. Flaherty proposed the regulations on May 27, 2010. Steve Masnyk, IBAC’s manager of public affairs, says that the proposed regulations address the issue of banks selling insurance […]
By Canadian Underwriter | May 27, 2010
In Canada, large public companies and those in rate-regulated sectors – including the insurance industry – are closer to completing conversion to International Financial Reporting Standards (IFRS) than their smaller counterparts, according to a PricewaterhouseCooper’s sponsored survey.Conducted by the Canadian Financial Executives Research Foundation, the survey found that of the larger, rate-regulated companies polled, more […]
By Canadian Underwriter | May 26, 2010
Ontario brokers using Compu-Quote will have all of the services of SCM Risk Management Services’ iClarify insurance-to-value (ITV) solution offered to them by mid-June 2010.Furthermore, iClarify will be piloted with B.C. and Quebec insurance brokers starting next month, with the pilot process anticipated to be completed by 2010 Q3. iClarify is a tool developed to […]
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