Industry
There is no such thing as a bullet-proof risk management program, but careful consideration of potential risks go a long way to bettering the speed and quality of a response, said Richard Worzel, futurist, told delegates during an Ontario Risk and Insurance Management Society (ORIMS) session.Worzel is a futurist — not someone who predicts the […]
By Canadian Underwriter | October 21, 2009
2 min read
CatastroPhone has launched an emergency response telecommunication service platform that enables “nearly instant” restoration of business’ incoming telephone call handling and distribution when systems are damaged, destroyed or rendered inaccessible.The venture is a collaboration between Fibernetics Corp and MMI, both of Waterloo, Ont.In a disaster situation, subscribers to CatastroPhone visit or call the Emergency Response […]
1 min read
Economists may be declaring the end of a recession, but the resultant damage to the economy could mean commercial property and casualty rates won’t rise until 2011, according to an Advisen briefing.“The recession may have ended, but recovery has not yet begun in any meaningful way,” said Dave Bradford, an Advisen executive vice president and […]
As jurisdictions across Canada continue to grapple with their respective auto insurance products — be it deteriorating results or court challenges to minor injury caps — a recent report indicates auto insurance results south of the border are also heading south.In FitchRatings’ Auto Insurance Market Overview, the rating agency suggests that the U.S. auto insurance […]
By Canadian Underwriter | October 20, 2009
Ontario’s provincial NDP party is reportedly calling for a public auto insurance scheme, on the back a series of rate increase approvals announced by the provincial regulator.In 2009 Q3, the Financial Services Commission of Ontario (FSCO) approved auto insurance rate increases of 2.13% for the entire market. The average rate increase over the first three […]
FSCO has approved auto insurance rate increases in 2009 Q3 averaging 2.13% for the entire market.”In the third quarter of 2009, for the 34.38% of the market that had rate changes approved, the average rate change was +6.2%, when weighted by market share,” FSCO said in a statement online.Rate changes approved in 2004, 2005, 2006, […]
Transport Canada is proposing a uniform test for rear-facing and forward-facing car seats and introducing a dynamic test for booster seats.Research found that fewer than half of the booster seats tested provided “good protection” for children when the vehicles were involved in moderate to severe impacts. Under the current rules, last updated in 1998, manufacturers […]
Kingsway America Inc. (KAI), an indirect, wholly-owned subsidiary of Kingsway Financial Services Inc., has disposed of its entire interest in Walshire General Assurance Company. Walshire is the sole shareholder of Lincoln General Insurance Company, now in run-off. “All of the stock of Walshire has been donated to charity, and with this disposition Lincoln General ceases […]
By Canadian Underwriter | October 19, 2009
Genmark Insurance Services and Central Underwriters will merge as of Jan. 1, 2010.The new entity will be called GroupOne Underwriters. It will be a national underwriting agency specializing in hard-to-place, standard and non-standard property and specialty insurance on behalf of a wide range of domestic carriers and Lloyd’s syndicates.Genmark Insurance Services Inc. is a Toronto-based […]
An Insurance Institute for Highway Safety (IIHS) report on the long-term effectiveness of driver hand-held cell phone bans has found differing effects. IIHS examined driver use of the devices in three jurisdictions where the practice of talking on a hand-held device is banned and compared them with neighbouring states that do not have a ban […]
By Canadian Underwriter | October 15, 2009
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