Claims
Manitoba drivers caught texting or using hand-held cell phones could face a fine of almost $200 under a new law that takes effect July 15, 2010, Infrastructure and Transportation Minister Steve Ashton has announced.The new law comes under amendments to the province’s Highway Traffic Act.”We know the hazards that distracted drivers create on our roads,” […]
By Canadian Underwriter | July 5, 2010
1 min read
Industry
Ontario brokers are now able to access Ontario auto reform updates through Compu-Quote Inc.’s AutoRater product.The program has been updated with the latest-approved rating formulae for more than 50 different insurance plans, anticipating the Sept. 1, 2010 implementation of the province’s auto insurance reforms.”Over the last few months, we worked very closely with the IBAO […]
A possible F3 tornado touched down just outside of Raymore, Saskatchewan on July 3, reports Environment Canada.Raymore is southeast of Saskatoon.Initial assessments from photos and videos of the damage suggest the tornado was a strong F2 or a weak F3, an Environment Canada release says.The majority of the damage reported occurred on the Kawacatoose First […]
Major property losses in 2010 Q1, originating from the Chile earthquake and storms in Australia, have had little impact on pricing in the global reinsurance market, reports Willis Re.There has been no general market move towards increased pricing in property catastrophe lines, Willis Re found in its 1st View Report for the June 1, 2010 […]
Ontario’s broker regulator has revoked the broker’s license of Careen Edwards for a history of serving clients of whom her brokerage was unaware.Registered Brokers of Ontario (RIBO) began investigating Edwards after a client walked into the office where she worked to report an accident. The brokerage had no record of the person being a client.The […]
By Canadian Underwriter | July 2, 2010
Hurricane Alex, the first hurricane in the 2010 season, is now a spent force, having done about $200-million worth of insured damage in Mexico, according to modeler AIR Worldwide.The Category 2 hurricane has dissipated into a storm system that is expected to dump an extra two to four inches of rain on southern Texas, the […]
A large capital cushion continues to suppress global reinsurance rates, according to a briefing paper from reinsurance broker Guy Carpenter.”Further erosion of rates was evident at the July 1, 2010 reinsurance renewal,” Guy Carpenter says in its news briefing, posted on GCcapital ideas.com. “Property rates were down by as much 15% despite substantial catastrophe loss […]
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What does it take to be 'cool?' If you know your audience and can connect with them using a simple, direct and supercharged message, you have the makings of a 'viral' industry ad campaign.
June 30, 2010
3 min read
CANADIAN P&C INDUSTRY DOUBLES PROFITS IN 2010 Q1 Canada’s federally regulated property and casualty (P&C) insurers slightly more than doubled their profits in 2010 Q1 compared to the same period of 2009. Canadian P&C insurers fared better than their foreign counterparts. Overall, Canadian and foreign P&C insurers totalled $835.8 million in profits in 2010 Q1, […]
2 min read
MODERATE EARTHQUAKE ROCKS OTTAWA-QUEBEC BORDER AREA A magnitude-5.0 earthquake struck the Ontario-Quebec border area, 60 kilometers north of Ottawa, at 1:42 p.m. on June 23, according to the United States Geological Survey (USGS). Within minutes of the shaking, Twitter users reported they had felt the tremors in Ottawa, Montreal, Toronto and Kitchener. Reports of tremors […]
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