Industry
Auto insurance quotes from Alberta Motor Association (AMA) Insurance are now available through Kanetix.ca to Alberta drivers.Kanetix.ca is a free online service allowing consumers to compare auto insurance quotes from a variety of insurers.”Kanetix is excited at the opportunity to introduce our shoppers to AMA Insurance,” said George Small, co-founder of kanetix.ca. “AMA Insurance complements […]
By Canadian Underwriter | November 9, 2010
1 min read
New Brunswick is officially pressing ahead with its promised review of the province’s $2,500 cap on minor auto injuries, with a task force expected to engage in public consultation and then issue a report sometime around May 2011.The working group will carry out its review and conduct consultations in two specific areas:• the adequacy of […]
2 min read
Facility Association is changing its rules for transferring claims to the risk-sharing pools (RSP) as of July 1, 2011, effectively reducing reporting time, but also giving insurers a little bit more time to investigate a loss to see if it is really a loss.The new rule states that for a policy already transferred to the […]
American International Group, Inc. (AIG) has announced Sid Sankaran will join AIG as senior vice president and chief risk officer. Sankaran will succeed Robert Lewis, who last month announced he would retire from AIG following a smooth transition period. Sankaran’s direct reports will include the chief risk officers of all AIG business units and the […]
By Canadian Underwriter | November 8, 2010
Claims
Finding an insured’s act to be “negligent” (but not intentional) in a liability trial does not preclude a finding that the insured’s act might also be “criminal” during a subsequent trial on insurance coverage, the Alberta Court of Appeal has found.In Raywalt Construction Co. Ltd. v. Allstate Insurance Company, a trial court found Timothy Witoshynski […]
SCM Risk Management Services (RMS) in partnership with the Insurance Brokers Association of British Columbia (IBABC) launched the pilot of iClarify services in B.C.More than 50 brokerages across the province have been selected to take part in the test phase, which is expected to continue throughout the remainder of 2010, with province-wide release targeted for […]
CFC, a specialist lines underwriting agent, has launched an insurance policy designed to provide comprehensive protection for social media companies. Esurance 2.0 includes:• comprehensive media liability, including cover for user-generated content;• defamation including libel and slander;• cyber-liability, privacy liability and privacy breach notification costs;• intellectual property rights infringement;• employers’ and public liability; and• property and […]
The financial services sector is likely to see the greatest increase in outsourcing over the next 12 months, driven primarily by cost-cutting efforts, according to a Kilpatrick Stockton LLP study.The study, Outsourcing Insight, was a joint initiative with mergermarket, and was based on a series of interviews with corporate executives around the world. It found […]
Canada’s solvency regulator acknowledges its Guideline B-3-Sound Reinsurance Practices and Procedures has “created a lot of stir” within Canada’s reinsurance community because of its insistence that federally regulated insurers perform a sufficient level of due diligence on reinsurance counterparties.But the Office of the Superintendent of Financial Institutions (OSFI) insists its “due diligence” guidelines are not […]
By Canadian Underwriter | November 5, 2010
Data protection is increasingly seen as a strategic issue, but most companies do not have an effective incident response plan, Adam Kardash, partner at Heenan Blaikie LLP’s Toronto office, told delegates at the Insurance Bureau of Canada (IBC)’s 10th Annual Regulatory Affairs Symposium in Toronto on Nov. 4. Kardash is co-head of Heenan Blaikie’s national […]
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