Industry
The insurance industry “dodged a bullet” in 2009 with wildfire losses, but it currently has its “head in the sand” when it comes to pricing this risk, said Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction (ICLR).McGillivray spoke on global changes and catastrophic loss at the Ontario Mutual Insurance Association’s conference in […]
By Canadian Underwriter | March 26, 2010
2 min read
The insurance industry performed well in phone customer service, but was ranked as below average when it came to customer service through email or the Web, an eGain survey found.eGain Communications Corporation, a customer service software provider, evaluated multiple aspects of Web self-service and contact centre customer service of 175 companies in the U.S. and […]
1 min read
Canada’s solvency regulator says effective supervisory oversight is just as important as the imposition of rules when it comes to the regulation of financial services.Julie Dickson, superintendent of the Office of the Superintendent of Financial Institutions (OSFI), weighed in with her observations of what makes for an effective regulatory apparatus when speaking in March in […]
By Canadian Underwriter | March 25, 2010
Lloyd’s of London reported a pre-tax profit of GBP3.9 billion (Cdn$5.9 billion) in 2009, the highest in its history and a marked increase from 2008’s pre-tax profit of GBP1.9 billion (Cdn$3.2 billion).The market reported a combined ratio of 86.1% for the year, an improvement from 2008’s combined ratio of 91.3%.Gross written premium for the year […]
Greenscape Capital Group Inc. has appointed Marsh Canada Limited as an advisor to the company, as Greenscape embarks on an aggressive growth phase of its energy retrofit business.Marsh’s Vancouver construction and design practice will provide insurance product placement, insurance and risk consulting services for Greenscape’s corporate and project needs on a global basis, according to […]
Custom Software Solutions Inc. (CSSI)’s Windows-based broker management system, The Broker’s Workstation (TBW), and its standalone rating and underwriting tool Intelliquote (IQ) will soon integrate in real time with The Economical Insurance Group’s TEIG Rogo.TEIG Rogo provides real-time billing, policy and claims inquiry for both commercial and personal lines of business in an easy-to-read PDF, […]
The federal government is proposing to widen the scope of financial services taxable under the GST, lifting current GST exemptions for a host of activities commonly undertaken in the development of insurance products.The proposals call into question whether broker commissions are now taxable under the GST.Parliament has not yet enacted the proposed amendments, although, once […]
By Canadian Underwriter | March 24, 2010
Catlin Canada has added four new senior staff to its Toronto office. Varma Singh has accepted the role of vice president of claims.Singh’s career in the insurance industry started in 1984. For the past 21 years he has worked in the Canadian P&C market exclusively within the claims division. He was most recently with Travelers […]
Chesterfield Canada Inc. announced two new appointments to their Toronto Branch: Paul Clarke and Tyson Peel. Clarke has been appointed senior property casualty underwriter and Peel has been appointed property casualty underwriter. Both will provide dedicated underwriting expertise to retailers in Ontario requiring specialist coverage.Chesterfield’s Toronto team focuses on hard-to-place property and casualty classes, builders’ […]
Reacting to “numerous questions” related to the proper identification of agents, brokers and business names on insurance licenses, the Insurance Council of Manitoba (ICM) published some points by which all agents/brokers must abide.In its ICM Council Report 2009, the council’s points include tips to “minimize confusion” when a licensed broker or agent presents himself or […]
By Canadian Underwriter | March 23, 2010
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