Industry
Swiss Re has launched a new deductible reduction policy enhancement for its broker association errors and omissions (E&O) policyholders. Through the enhancement, Swiss Re will reduce the E&O policy deductible by 50% – up to a maximum of $12,500 per claim – in the event a new claim is brought alleging the broker’s failure to […]
By Canadian Underwriter | November 15, 2010
1 min read
Mathieu Brunet has been slected president of The Association of emerging Quebec Assurance (L’Association de la relève en assurance du Québec – LARAQ), a non-profit organization established to help young insurance professionals network and share professional resources. Now 10 years old, the association has more than 2,000 members across Quebec. The Association has three committees […]
The program administrator and managing general agent (MGA/PA) market is maturing, but profitability expectations within the sector are shrinking, reported Guy Carpenter.In its annual survey of the MGA/PA market, Guy Carpenter noted the number of carriers entering the space has increased. The number of MGAs shifting to writing speciality-driven lines from more commodity-driven lines has […]
Kingsway Financial Services Inc. reported a 2010 Q3 net income of $2.5 million, up substantially from its 2009 Q3 loss of $118.1 million.Gross premiums written decreased by 24.2% for the quarter to $62.8 million (32.8% to $206 million year to date) from $82.8 million in 2010 Q3.”The significant reduction in premium volume is a reflection […]
Claims
*** CORRECTION***This item corrects an item posted on Nov. 12, 2010. In the original item, an error was made in the first paragraph, and should have said that plaintiffs must show a cause of action against the defendants named in a class action suit. Canadian Underwriter apologizes for the error. Saskatchewan’s Court of Appeal will […]
2 min read
The Office of the Superintendent of Financial Institutions (OSFI) has introduced a minimum gross capital level in its 2011 Minimum Capital Test Guideline. OSFI is requesting comments from industry on the second phase of its draft 2011 MCT Guideline by Nov. 30, 2010.The introduction of a minimum gross capital level is one of three changes […]
By Canadian Underwriter | November 12, 2010
A written statement should be requested prior to any interviewing of a subject, as this provides the interviewer with the cleanest version of the events. This is contradictory to the way interviews – with claimants, fraud suspects, witnesses, etc. – are frequently conducted, which is done while the interviewer sits across from the subject. In […]
Isabelle Perreault has been appointed executive director of the Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ). She was previously the director of communications and public affairs with the Chambre de l’assurance de dommages (ChAD) and the Coalition pour la promotion des professions en assurance de dommages. Perreault has thirteen years of experience in […]
Policy Works Inc. and SGI Canada have enabled straight-through processing of commercial lines data between a desktop application and an insurer’s underwriting system. Policy Works v2010.1 is the first mechanism to achieve this, a Policy Works release says.Brokers are able to send submissions to, and receive quotations from, SGI Canada’s underwriting system directly without ever […]
Parliament has passed new legislation aimed at getting tougher on auto theft and trafficking in stolen property such as cars.The legislation is expected to receive Royal Assent imminently.”Auto theft costs Canadians over $1 billion each year and helps make organized crime profitable,” federal justice minister Rob Nicholson said in a press release announcing the passage […]
By Canadian Underwriter | November 11, 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.
