Industry
INSURERS CONTINUE TO TAKE BEATING IN AUTO ACCIDENT BENEFIT LINES IN 2009 Q3 Canadian and foreign insurers licensed with the Office of the Superintendent of Financial Institutions (OSFI) continued to take a beating in the auto-personal accident category (which includes accident benefits), according to OSFI’s 2009 Q3 results. Canadian insurers saw their collective claims ratio […]
November 30, 2009
3 min read
INSURANCE COMPANIES MUST SHARE INFORMATION TO COUNTER ORGANIZED CRIME Insurance companies must recognize ‘red flags’ indicating the presence of organized crime and better co-ordinate communications between them when these signs arise, according to IBC investigator Kathy Metzger. Insurers must be vigilant in preventing organized crime, Metzger told a National Association of Subrogation Professionals’ seminar in […]
1 min read
Risk
INSURERS SLOW TO ESTABLISH CHIEF RISK OFFICER POSITION: OSFI Canada’s property and casualty industry has been lagging in the establishment of the Chief Risk Officer position and the processes that ac- company it, the Office of the Superintendent of Financial Institutions (OSFI) says. OSFI superintendent Julie Dickson made the observation while speaking at OSFI’s first […]
HOPE FADING THAT FEDERAL PRIVACY LEGISLATION WILL BECOME MORE INVESTIGATION-FRIENDLY For insurance defence counsel, hope is receding that federal privacy legislation related to insurance investigations and surveillance will be aligned in the future with the comparatively more straightforward provincial privacy legislation found in B.C. and Alberta. John Beardwood, partner in Fasken Martineau DuMoulin LLP’s Toronto […]
In his new role as OMIA president, John Taylor draws on his experiences growing up on a farm and in the insurance industry. For John Taylor, becoming president of the Ontario Mutual Insurance Association (OMIA) was a homecoming of sorts. Taylor is quite comfortable talking about the deep-rooted principles that underpin the work of the […]
By By: Vanessa Mariga, Associate Editor | November 30, 2009
5 min read
Ontario has announced its much-anticipated auto insurance reform package. The industry says it is now "halfway home" towards profitability in the Ontario auto product.
By By: David Gambrill, Editor | November 30, 2009
9 min read
The first-party model for recovery in auto damage claims can lead to better relationships with consumers if at-fault assignment is waived, but at-fault determinations must remain accurate to avoid moral hazard.
By By: Mary Kelly & Anne Kleffner | November 30, 2009
Courtesy of the nation's insurers, towns and cities looking to make the best use of taxpayers' dollars will soon have a credible, reliable tool to help guide them in infrastructure spending.
By By: Mary Lou O'Reilly | November 30, 2009
Credit scoring, technology, broker communications with consumers and ITV all dominated the highlight reel of the IBAO's annual convention in 2009.
By By: David Gambrill, Editor & Vanessa Mariga, Associate Editor | November 30, 2009
7 min read
There is a song by a 1980-90s band called The The, in which the singer Matt Johnson advises: ‘If you can’t change the world, then change yourself.’ Besieged by world events that have substantially eaten into their profit margins, Canadian property and casualty insurers are starting to turn inwards and see what they might do […]
13 min read
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