Industry
Financial failure is the greatest risk facing global supply chains according to 75% of companies surveyed in Aon and State of Flux’s 2009 Risk in 21st Century Supply Chains survey. Of the respondents reporting actual business interruption, 7% relate to financial failure of suppliers, said the report, which combined 100 responses, found. The importance of […]
By Canadian Underwriter | July 2, 2009
1 min read
As the auto insurance cap issue grinds slowly and inexorably towards the Supreme Court of Canada, and even as courts seem to be aligning with insurers on the constitutional validity of caps (thus far, at least), it’s still hard to know under exactly what circumstances a cap is acceptable to the courts or the public. […]
By David Gambrill, Editor | June 30, 2009
4 min read
CANADIAN COMPANIES FALLING BEHIND IN IFRS CONVERSION PROCESS Despite the fast-approaching Jan. 1, 2011 deadline for the implementation of international financial reporting standards (IFRS), more than 12% of public companies and 20% of the private companies surveyed by PricewaterhouseCoopers have not yet taken the first step in the conversion process. PwC surveyed 256 companies — […]
June 30, 2009
2 min read
IBABC CALLS FOR BAN ON CREDIT SCORING The Insurance Brokers Association of B. C. (IBABC) has asked the B. C. government for legislative changes that would prohibit insurers’ ability to collect information for the purpose of credit scoring. “Our position is that we don’t want credit scoring to be an underwriting factor in B. C., […]
3 min read
ONTARIO’S NEW ELECTRONIC CLAIMS PROCESSING SYSTEM, HCAI, TO BE RE-INTRODUCED IN STAGES Health Claims for Auto Insurance (HCAI), an electronic system for processing auto insurance claims, is once again entering a pilot phase, starting on Sept. 1, 2009. HCAI was shut down in April 2008 at the request of the Insurance Bureau of Canada (IBC). […]
Soon after a Nova Scotia court confirmed the constitutional validity of the province's minor auto injury cap, voters elected a new government with a mandate to replace the cap with a deductible.
By Vanessa Mariga, Associate Editor | June 30, 2009
5 min read
UPCOMING EVENTS: FOR A COMPLETE LIST VISIT www.canadianunderwriter.ca AND CLICK 'MY EVENTS CALENDAR" ON THE HOME PAGE
6 min read
The Toa Reinsurance Company of America celebrated its 10th Anniversary Reception at the Carlu in Toronto on June 17. The evening featured music, drinks, mingling and an appearance by a sketch artist. The many guests included ToaRe’s immediate past chief agent in Canada, David Wilmot.
The Young Brokers Council (YBC) held its 5th Annual Conference in Niagara Falls, Ontario between June 3 and 5. Delegates enjoyed a sportsthemed trade show, a mini- IBAO regional meeting, educational seminars and the chance to network. Debates over credit scoring, possible breaches of the Bank Act and the retailing of insurance on bank Web […]
Totten Group Insurance’s Toronto office kick-started the summer by building 28 bicycles to be donated to children between the ages of eight and 10. Fourteen teams assembled the bikes, had them safety checked and outfitted each cycle with a bell, helmet and lock. Twenty-two students of Holy Angels School were presented with a bike; another […]
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