Industry
The revenues of Crawford & Company’s international segment were affected by the lack of weather-related claims in the Canadian market, the company reported in its 2010 Q1 financial statement. “Our international operations segment continued to be a strong contributor, even as revenues increased only slightly on a constant dollar basis,” Jeffrey T. Bowman, CEO of […]
By Canadian Underwriter | May 18, 2010
1 min read
Brian Hambly has been promoted to branch manager of Crawford & Company (Canada) Inc.’s Toronto East branch. Hambly joined Crawford in 1995. He specializes in commercial auto and CGL claims, and has been the control adjuster for several car rental accounts. He will continue to manage Crawford’s commercial auto services unit.Hambly was instrumental in the […]
Marshall & Swift/Boeckh (MSB) has teamed up with Compu-Quote Inc. to launch a replacement cost calculator. MSB will integrate its RCT technology into Compu-Quote’s RCT EvaluRater product to form the Replacement Cost Technology EvaluRater. The product is intended to “significantly improve the process of determining residential reconstruction value, delivering both immediate and long-term workflow benefits […]
iClarify is now available to all Ontario brokers. The insurance-to-value initiative is a joint effort between Compu-Quote Inc. and SCM’s Risk Management Services (RMS). It allows brokers to retrieve street level and satellite photographs, as well as information on 12 critical data elements of dwellings in real time during the calculation of the ITV. “During […]
Having been in dry-dock for repairs since April 2008, Ontario’s new Health Claims for Auto Insurance (HCAI) electronic claims processing system will be officially re-launched on May 22, 2010.The re-introduction of HCAI is just in time for Ontario’s auto reforms, which are to be implemented on Sept. 1, 2010. HCAI will be embedded with the […]
2 min read
The Office of the Superintendent of Financial Institutions (OSFI) says it believes 2010 will be a “mixed bag” for the Canadian property and casualty financially, with capital levels improving, but the introduction of enterprise risk management (ERM) still lagging behind that in other sectors. OSFI notes the industry has bulked up its capital base since […]
By Canadian Underwriter | May 17, 2010
Claims
Saskatchewan has passed a new set of regulations targeting the sale of incidental insurance by unlicensed insurance agents. The Saskatchewan Insurance Act Amendment Regulations 2010 specify types of business entities allowed to be licensed to sell insurance through unlicensed employees, and the types of insurance they are allowed to sell.The regulations come into effect on […]
Canada’s oil sands “face significant financial and environmental risks” at least as great as those of the Deepwater Horizon spill in the Gulf of Mexico, according to a new report commissioned by Ceres.Ceres is a coalition of investors, environmental groups and public interest groups working with companies to address sustainability challenges such as climate change. […]
British Columbia’s regulator is warning property and casualty insurers about interest rate risk in the existing volatile financial markets and the potential affects on insurers’ assets and liabilities.Financial Institutions Commission (FICOM) has issued a bulletin advising insurers to review the potential impact to investment assets from interest rate risk.“For example, P&C insurers may be exposed […]
Although 95-98% of insurers’ legal bills for handling claims files still follow a billable-hours fee structure, “there is scope for more flat-fee arrangements,” Lori Brazier, claims procurement manager for Aviva Canada, told a seminar at the CIP Society Symposium 2010 in Toronto.But to establish a fair flat fee, an insurer would need to collect data […]
By Canadian Underwriter | May 14, 2010
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