Industry
Scotiabank Group has opened a second retail ScotiaLife Financial Insurance Centre, located in downtown Toronto.”With the success of the first ScotiaLife Financial Insurance Centre in Mississauga, the new centre located on the concourse level of the Bay Adelaide Centre in Toronto further solidifies the bank’s strategy to explore and grow this distribution channel,” Scotiabank Group […]
By Canadian Underwriter | November 26, 2010
1 min read
The Ontario Legislature has passed a non-binding private member’s motion calling on the insurance industry to reduce premiums for those who have winter tires. Bill Mauro, MPP for Thunder Bay-Atikokan, introduced his private member’s motion in the Ontario Legislature in early November and was passed on Nov. 25. Such a motion typically asks the legislature […]
Researchers in Canada are one step closer to being able to predict increased earthquake risk over periods as short as five to 10 years.The new method suggests potential seismic activity over the next five years near Ottawa, Montreal and Quebec City. Over the next eight years, it suggests significant seismic activity in British Columbia in […]
2 min read
Standard and Poor’s has reaffirmed its rating of The Guarantee Company of North America as A- (Stable). Guarantee issued a press release saying, “the rating reflects the company’s strong competitive position and financial performance in its specialty markets and its strong capitalization.”
By Canadian Underwriter | November 25, 2010
Claims
A Toronto man has been charged in connection with an insurance fraud investigation. According to Toronto police, the fraud scheme involved a paralegal who said he was operating under Royal Sun and Alliance Company, using ‘Executive Brokers’ as the name of the insurance broker. The brokerage address was presented as 251 Consumers Road #1200.Police allege: […]
The Canada Revenue Agency (CRA) has confirmed that business income earned by a Barbados “exempt insurance company” (EIC) may generally be repatriated to Canada free of Canadian tax, despite the EIC being subject to a very low amount of tax in Barbados.An EIC is a company licensed under the Barbados Exempt Insurance Act (BEIA) to […]
Banks are predictably lobbying the federal government during the 2012 Bank Act review to lift restrictions preventing them from marketing and selling insurance products in their branches, but a recent Canadian Bankers Association (CBA) submission suggests banks see this more of a long-term than a short-term project.In a submission to the federal government related to […]
Policy Works has entered into an agreement with L’Union Canadienne to deliver a commercial lines data exchange solution. This will integrate Policy Works’ Commercial Management System (CMS) and L’Union Canadienne’s underwriting system. It offers pure no-touch processing, which enables brokers to send submissions and receive quotations electronically without using a Web portal. This means no […]
RSA Canada has invested in Real-Time Inquiry, which allows brokers to access client information. Applied Systems TAM brokers will be able to access their client’s billing, claims and policy information quickly and easily, without ever leaving their broker management system.Brokers select the policy in TAM, click the Real-Time “butterfly” button, and within seconds they can […]
Climate models may be capable of predicting the frequency of North Atlantic hurricanes as far as 10 years ahead, well beyond the current seasonal timescale, Lloyd’s reported.Lloyd’s awarded its inaugural Science of Risk Prize to Doug Smith of the U.K.’s Met Office for the finding.Smith’s research paper, ‘Skilful Multi-year Predictions of Atlantic Hurricane Frequency’ was […]
By Canadian Underwriter | November 24, 2010
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
