Industry
The Insurance Brokers Association of Canada (IBAC) is gearing up for the 2012 Bank Act review, urging brokers to get politically involved in advance of the federal government’s mandatory five-year review of the legislation.”We have to be ready to represent our views and those of Canadian consumers, because that is how we will maintain the […]
By Canadian Underwriter | June 18, 2010
1 min read
The Insurance Broker Association of Saskatchewan (IBAS) is concerned about SGI’s proposed 35% reduction in broker commissions for online vehicle renewals.The public insurer has taken the position that online self-service or payment on any other transaction should result in savings and therefore broker commissions should be reduced.”SGI is determined to find savings in the distribution […]
Claims
A claimant does not have to be found to have engaged in fraud in order for a Financial Services Commission (FSCO) arbitrator to determine that the claimant lied about being in an automobile accident.In Azimi v Economical Mutual Insurance Company, Ashkan Azimi claimed he was injured in a car accident and applied for statutory accident […]
2 min read
The Canadian reinsurance and insurance markets are far more stable than their U.S. counterparts, said Hans Rohlf, managing director North America and chief underwriting officer at Hannover Re.Rohlf was speaking during a presentation, Hannover Re Views of the Canadian Market, in Niagara-on-the-Lake on June 16.Between 1996 and 2006 the average combined ratios for the Canadian […]
By Canadian Underwriter | June 17, 2010
Social networking will get “a lot more social” over the next three to five years, and the insurance industry should be exploiting media such as Facebook now, before losing an opportunity to become unique trend-setters in this area, according to author Jeremy Gutsche.Gutsche, author of the book Exploiting Chaos and the founder of TrendHunter.com, was […]
3 min read
Given predictions of a worker shortage in Canada by 2015, and keeping in mind that Generation Y employees work an average of only four years for one company before moving on, it is especially important for the insurance industry to find ways to retain Generation Y workers, says Wayne Kehl, president of the management consulting […]
Willis Re is opening an office in Toronto on Sept. 1 to complement Willis Group’s current presence in the city. “Adding an office in Toronto will enable us to build on our success in Canada and offer an enhanced level of service to our current and future clients,” Peter Hearn, CEO, Willis Re, said in […]
Cunningham Lindsey has established a Global Practice Mining Team, with more than 6,000 employees and based in 65 countries. The adjusters have handled hundreds of major mining losses involving floods, landslides, access route interruptions and plant losses of every description; together with hydroelectric, ventilation, electrical and communication systems on both open cut, deep and mixed […]
Various policy and endorsement forms have been revised and updated by the Financial Services Commission of Ontario (FSCO) to reflect the automobile insurance reforms. Additionally, two new forms have been approved to allow policyholders to purchase coverage to offset the tort deductibles.The changes to the forms include:• reflecting changes to the Statutory Accident Benefits Schedule […]
By Canadian Underwriter | June 16, 2010
Paul Hancock has joined Crawford & Company (Canada) Inc. as national director of Global Technical Services (GTS) Canada. Hancock has a Chartered Insurance Professional (CIP) designation with more than 25 years of experience in the claims industry. “Paul’s dedication to quality, excellence and customer service, along with his extensive experience in both claims investigation and […]
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