Industry
Sixty-two per cent of the Canadian insurance sector reports being more than 60% complete in its transition to International Financial Reporting Standards (IFRS), according to a PricewaterhouseCoopers’ survey.The results of IFRS Readiness in Canada: 2010 are based on responses from 146 senior financial executives across Canada.Out of the top four industries to respond to the […]
By Canadian Underwriter | September 1, 2010
1 min read
Claims
The Canadian Hurricane Centre estimates there is between a 40% and a 50% chance of Hurricane Earl making landfall in Nova Scotia in the early morning of Sept. 4.”Probabilistic computer models generally show about a 80% chance of at least gale-force winds (60 to 70 km-h) over land in Nova Scotia,” the centre said in […]
Competition in the global reinsurance industry is expected to intensify, leading to pressure on earnings, since “reinsurance has proved to be one of the most resilient of all insurance sectors through the financial crisis,” according to a new report by Fitch Ratings.Fitch’s rating outlook for the global reinsurance industry remains Stable.”The relative attractiveness of the […]
Other than providing a baseline from which to offer rate decreases, is there much point in the province of Alberta hiring actuaries?
By David Gambrill, Editor | August 31, 2010
3 min read
RSA, AVIVA PLC CONFIRM REJECTION OF RSA’S OFFER TO BUY AVIVA’S CANADIAN BUSINESS RSA has confirmed in “a response to press speculation” that it did in fact propose to acquire Aviva’s Canadian, UK and Irish general insurance business for 5 billion in cash. In a separate public statement released on the same day, Aviva plc […]
August 31, 2010
2 min read
NEW BRUNSWICK OPPOSITION VOWS TO INCREASE MINOR INJURY CAP LIMIT IF ELECTED The New Brunswick Progressive Conservatives say they will increase the cap on soft tissue injuries if elected this fall. By how much remains to be seen, according to Times & Transcript. “The specific amount of how much will be based on a three-month […]
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ALBERTA SETS RECORD WITH $400-MILLION HAILSTORM Alberta’s July 12 hailstorm caused a record-setting $400 million in insured damages, the Insurance Bureau of Canada reports, citing data from PCS-Canada. The amount establishes a new record for insured hailstorm damage in Canada. The previous record was set in Calgary in 1991, when a 30-minute storm generated roughly […]
IBAC president-elect Lyle Fraser sees brokers as the bridge between the complicated, technical world of insurance and consumers' day-today lives.
By Vanessa Mariga, Associate Editor | August 31, 2010
5 min read
Risk
Risk managers can demonstrate added value by undertaking a collaborative effort to identify and assess risk.
By Edward Robertson | August 31, 2010
Opinion/Analysis; The views expressed in this article are the author's own and are not intended in any way to imply or express the views of the Michael Palermo & Associates Insurance Limited brokerage.; Ontario auto insurance is failing in part because it has become a cistern for all manner of loss situations, even the kind that involves reckless and wanton driving, which were not originally contemplated to be insurable.
By Frank Cain | August 31, 2010
4 min read
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