Industry
Despite stimulus spending, public sector executives cite lack of funds as the largest hurdle to infrastructure development, KPMG reports.In its third instalment of a series on global infrastructure surveys, KPMG commissioned the Economist Intelligence Unit to survey 392 senior public sector officials involved in infrastructure policy, procurement or development.Respondents came from 50 countries and territories […]
By Canadian Underwriter | February 5, 2010
1 min read
The Nissan Frontier has the strongest roof and the Chevrolet Colorado the weakest among the small pickup trucks tested for rollover protection by the Insurance Institute for Highway Safety (IIHS).The IIHS tested five 2010 models. They rated as follows:• The Frontier (also sold as the Suzuki Equator) is the only pickup in the group to […]
2 min read
Registered Insurance Brokers of Ontario (RIBO), a self-regulating body for the province’s insurance brokers, is exploring the possibility of an online election process.RIBO has a participation rate “in the area of 25% to 30%” of its membership. The regulator says this compares favourably to a 5%-to-15% voting percentage for other self-regulating professions.Last year, 8,688 votes […]
Claims
The Insurance Council of British Columbia is proposing a new ‘Unauthorized Insurer Rule’ that requires licensed insurers or agents to inform the council in writing if they are conducting insurance transactions under an existing exemption for doing business with unauthorized insurers.“Only licensees who have registered with the council by providing written notification of their intent […]
Having “substantially completed” the acquisition of Hilb Rogal & Hobbs (HRH) Company, Willis Group is calling 2009 a “momentous year” marked by increased profits and organic growth.Reported net income from continuing operations for 2009 Q4 was $79 million, compared with $61 million in the same period a year ago.In addition, the company reported a 2% […]
By Canadian Underwriter | February 4, 2010
Ontario’s definition of a “catastrophic impairment” may have widened as a result of a recent decision by the Financial Services Commission of Ontario, lawyers are saying about the case of Aviva and Pastore.In Aviva and Pastore, a FSCO director delegate ruled there is no inconsistency in defining an auto injury victim as “catastrophically impaired,” even […]
A newer method of calculating loss of income in the event of a breadwinner’s death could save defense costs, said Jamie Dunn, partner at Blouin Dunn LLP.The method is used in situations in which both spouses or partners are breadwinners of a family and one is killed.Courts have expressed differing views on the accuracy of […]
Cunningham Lindsey Canada has expanded its Ontario operation with the opening of a new office in Cornwall.Diane Lefebvre will serve as branch manager. She was most recently an adjuster in CLC’s Ottawa location.Lefebvre brings more than a decade of claims experience to the role.“The Cornwall office is strategically located to provide rapid claims response to […]
The Insurance Brokers Association of Ontario (IBAO) has launched a social media campaign featuring a new blog and Twitter account.IBAO’s goal with the campaign is to further develop and empower its community of brokers to better educate consumers and media on insurance-related issues and coverage tips. The social networking initiative is to keep stakeholders informed […]
By Canadian Underwriter | February 3, 2010
Having just come through a worldwide financial crisis, global reinsurers are once again entering “the cheating years,” describing a cycle in which insurance companies employ reserve funds to bolster their combined ratios, and thus boosting their return on equity (ROE) results. The “cheating years” is in contrast to a cycle of “restoration years,” during which […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
