Industry
The Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) announced a schedule for the completion of a process agreement that would open the way for discussions of a U.S.-Canada mutual recognition agreement.Mutual recognition could provide Canadian securities exchanges and certain other Canadian financial service providers with greater freedom to operate in […]
By Canadian Underwriter | June 2, 2008
1 min read
With Ontario's mandatory five-year review of the province's auto insurance product coming up later this year, the stakeholders in the debate are already embroiled in a discussion about indemnity over entitlement, as well as the province's Cdn$15,000 deductible and verbal threshold for establishing the nature of bodily injuries
By Donna Ford | May 31, 2008
6 min read
Risk
U. S. studies show insurance carriers and brokerages are paying each of their employees roughly US$6,000 a year to perform non-work-related tasks on the Internet.
By Chris Borchert, Business Development Executive, IPrevision, Inc. | May 31, 2008
The Supreme Court of Canada has upheld the Ontario Court of Appeal’s rejection of a Cdn$341,000 damage award to Waddah (Martin) Mustapha, who suffered a major depressive disorder, phobia and anxiety after finding dead flies in his unopened bottle of drinking water. A trial judge bestowed the award for the personal injury Mustapha suffered, but […]
May 31, 2008
Claims
Whenever Canadian insurance company claims departments and legal vendors seek signs of The Apocalypse when it comes to claims litigation, they often look in the direction of United States courtrooms. And it’s a common psychological tendency that when we look for something, we are bound to find it. Take, for example, the U. S. case […]
By David Gambrill | May 31, 2008
4 min read
It might seem a paradoxical enterprise to "automate change." But this is exactly the kind of circle that brokers, insurers and tech vendors are attempting to square when they ponder how to give brokers the electronic means to submit real-time policy changes to insurers.
By Craig Harris | May 31, 2008
15 min read
Zurich Financial Services Group reported a 2008 Q1 net income of US$1.4 billion, an increase of 3% over its 2007 Q1 results. The general insurance unit of the company saw a 10% increase in gross written premiums and policy fees — from US$10.2 billion to US$11.2 billion for the quarter — “reflecting both organic growth, […]
The credit crunch related to the subprime mortgage crisis in the United States and the higher-than- average hurricane forecasts for the eastern seaboard might be converging at the worst possible time for insurers, according to A. M. Best. “Turmoil in the credit markets could leave policyholders in limbo if a major hurricane strikes the United […]
Insurance Bureau of Canada (IBC) has appointed Don Forgeron as vice president, Ontario and Barb Sulzenko-Laurie as its new vice president of policy. Jane Voll, the IBC’s immediate past vice president of policy, becomes special advisor to the president in order to complete the industry’s critical submission at this time to the Automobile Insurance Rate […]
Commercial
The CSIO board of directors honoured Policy Works Inc. with the CSIO Achievement Award for Policy Works’ achievements in commercial lines XML implementation. The inaugural award was presented at CSIO’s AGM in Toronto on Apr. 24; it will continue to be presented at AGMs in coming years. “We hope that this award will not only […]
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.
