Industry
The insurance industry sorely needs a new, basic technology that will better quantify the industry's overall value to consumers.
By Dave Gambrill, Editor | January 31, 2010
3 min read
THREE SEPARATE WEATHER EVENTS CAUSE A TOTAL OF $637 MILLION IN INSURED DAMAGES: IBC Three separate severe weather events occurring in Alberta and Ontario in 2009 caused insured damages totalling $637 million, according to figures released by the Insurance Bureau of Canada (IBC) In Alberta, deadly windstorms tore through the province between Aug. 1 and […]
January 31, 2010
2 min read
Risk
COMMERCIAL PREMIUMS DROP IN 2009 Q4: RIMS SURVEY Premiums continued to tumble for commercial insurance buyers in 2009 Q4, with few signs that the soft phase of the pricing cycle is nearing the end, according to the RIMS Benchmark Survey. The survey, administered by Advisen Ltd., tracks changes in insurance policy renewal prices as reported […]
NEAR-TERM MODELS ARE OVERESTIMATING INSURED DAMAGES: KAREN CLARK Near-term models designed to project insured losses from Atlantic hurricanes in the United States have significantly overestimated losses for the cumulative 2006-09 seasons, a Karen Clark release says. Three major catastrophe modellers introduced near-term models in 2006 following the destructive 2004 and 2005 hurricane seasons. Actual cumulative […]
1 min read
IBC DENOUNCES PROPOSED PROHIBITION ON EXCLUDING FIRE CLAIMS FOLLOWING TERRORIST ATTACKS, EARTHQUAKES: Canada’s property and casualty insurance industry is “strongly cautioning” the Alberta government to scrap a proposal that would prohibit insurers from excluding claims for fire damage following terrorist or earthquake events. Primary insurers would run a higher risk of insolvency if the government […]
Carla Blackmore, the recipient of several awards in honour of her distinguished 34-year career, says the insurance industry must increase its investment in the development of its workforce to attract the top young decision-makers into its ranks.
By Vanessa Mariga, Associate Editor | January 31, 2010
5 min read
iClarify has emerged as part of the industry's effort to bolster insurance-to-value data validation.
By Greg McCutcheon, President, Risk Management Services (RMS) | January 31, 2010
6 min read
Next-generation versions of data exchange promise to support all forms of insurer-broker communication and workflows.
By John Eastly, Vice President, Policy Works Inc. | January 31, 2010
Provincial regulators have issued an undertaking to harmonize their regulatory approaches with OSFI in relation to Part XIII amendments.
By Robert McDowell, Fasken Martineau DuMoulin LLP & Marvin Mikhail, Fasken Martineau DuMoulin LLP | January 31, 2010
9 min read
How red-yellow-green LED technology is helping to change driving behaviours and develop safer drivers.
By Dan Steere, CEO, GreenRoad | January 31, 2010
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