Industry
Of the 60 booster seat models rated by the Insurance Institute for Highway Safety (IIHS), 11 failed to gain a recommendation.Booster seats are for children who have outgrown a child car seat but are too small for a regular seat belt.A good booster seat routes the lap belt flat across a child’s upper thighs and […]
By Canadian Underwriter | December 23, 2009
1 min read
The Ontario Securities Commission, autorité des marchés financiers (AMF), and the Investment Industry Regulatory Association of Canada have reached settlements in connection with the investigations into the Canadian asset-backed commercial paper (ABCP) market.In total, Cdn$138.8 million in administrative penalties and investigation costs will be paid.The settlements are broken down as follows:• National Bank Financial, Cdn$75 […]
2 min read
Canada’s economy is starting to grow again, although the finance and insurance sector is still in a state of retreat, according to a recent report by StatsCan.Canada’s real gross domestic product grew 0.2% in October 2009, a second consecutive monthly advance. Production increased in most major sectors of the economy, except in the finance and […]
Canadians may be changing their habits regarding driving after drinking, a new poll by the Traffic Injury Research Foundation (TIRF) has found. The public opinion poll of 1,200 Canadians found a decrease in the number of Canadians who drove when they thought they were over the legal limit in 2008 and 2009, compared to those […]
By Canadian Underwriter | December 22, 2009
Aviva Canada Inc. has posted on YouTube its Top 25 finalists for the first-ever Aviva Community Fund online contest.Aviva is putting up Cdn$500,000 to help fund ideas that seek to lead, empower and support positive change in Canadian communities. After eight weeks, the 25 most popular entries across the country have been selected among more […]
Reinsurer underwriting results were better than expected due to the unusually low level of natural catastrophes in the third quarter, according to the Aon Benfield Aggregate (ABA) quarterly report. Net income for the 23 global reinsurers analyzed in the report amounted to US$12.7 billion as of Sept. 30, 2009, compared to US$4.3 billion for the […]
Those companies that place an emphasis on the ‘people’ aspect of a merger and acquisition are more likely to have a successful deal, research from risk management firm Towers Perrin suggests. Towers Perrin surveyed more than 400 senior HR and business executives globally, including 118 Canadian respondents. It compared the integration practices of companies that […]
By Canadian Underwriter | December 21, 2009
Cunningham Lindsey has launched Cunningham Lindsey Research Services (CLRS).CLRS provides intelligence gathering, special investigations and surveillance services to assist in the adjudication of insurance claims.“From researching background information and verifying details, to gathering video surveillance and conducting interviews, the services provided by this in-house unit are done so with an objective perspective of each file,” […]
The Financial Services Commission of Ontario (FSCO) has identified at least one instance in which a fraudulent pink insurance slip does not represent enough of a “nexus” between an insured and an insurance company to trigger an accident benefits payout. The key factor appears to be whether the person supplying the fraudulent pink slip is […]
McLarens Canada has announced two executive level appointments. Dennis N. Schembri has been promoted to executive vice president, Eastern Canada of McLarens Canada and Donald N. Hull has been promoted to vice president, Ontario Region of McLarens Canada.Holding 26 years of experience, Schembri worked as a branch manager for a major independent adjusting firm before […]
By Canadian Underwriter | December 18, 2009
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