Industry
ONTARIO AUTO RATES ON THE INCREASE The Financial Services Commission of Ontario (FSCO) approved automobile rate increases averaging 2.57% in 2008 Q4, based on the entire market. For the 69.37% of the market that had rate changes approved in 2008 Q4, the average rate change was 3.71% when weighted by market share. The rate changes […]
January 31, 2009
2 min read
NOVA SCOTIA AUTO CAP UPHELD The Supreme Court of Nova Scotia in January upheld the province’s cap on insurance payments for minor auto injuries. But the ink had barely dried on the decision before it was subject to an appeal. In Hartling v. Nova Scotia, the Supreme Court of Nova Scotia dismissed a Charter challenge […]
Geoffrey Machum, a partner at Stewart McKelvey in Halifax, was a key figure in a big win for the insurance industry on the issue of auto insurance caps for minor injuries.
By Vanessa Mariga, Associate Editor | January 31, 2009
5 min read
FAIR VALUE DEBATE MORE VIGOROUS THAN EXPECTED Fitch Ratings anticipated debates about fair value (FV) accounting in 2008, but “the increased scrutiny accounting received in the wider global finance debate exceeded our expectations,” the ratings agency notes in a recent report. The report is entitled, Accounting and Financial Reporting: 2009 Global Outlook. This year looks […]
1 min read
J. D. Power and Associates polled more than 10,000 Canadians to gauge their satisfaction with the country's insurance products. Some results were surprising...
By Lubo Li Senior Director, Canadian Financial Services And Insurance Practice Leader, J. D. Power And | January 31, 2009
7 min read
Risk
I. T. staff and departments will play a pivotal role in any company's successful conversion to IFRS reporting standards, so get them involved early in the process.
By Mahmoud Safavi Senior Manager, KPMG Advisory Services Neil Parkinson Partner, KPMG Insurance Practic | January 31, 2009
4 min read
Canada's solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), is asking the industry for its opinion on the future direction of reinsurance regulation.
By Robert McDowell Financial Institutions And Services Group, Fasken Martineau Koker Christensen Financ | January 31, 2009
8 min read
Technology has evolved to a point when brokers may soon be able to use XML standards to communicate with multiple insurers using broker management systems. But what will that mean for carriers' individual Web portal solutions?
By Craig Harris Freelance Writer | January 31, 2009
14 min read
In the absence of perfect, 100% insurance to value, our hard-earned premium dollars may be subsidizing our neighbour's premium.
By Todd Rissel CEO, E2Value Inc. | January 31, 2009
A seized economy is causing brokers and I. T. vendors alike to re-examine what it would take for brokers to go ahead and revamp their I. T. systems
By Scott Andrew President, CEO Custom Software Solutions Inc. | January 31, 2009
6 min read
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