Claims
Potential climate change is the greatest strategic risk currently facing the property and casualty insurance industry, according to an Ernst & Young report. Demographic changes and catastrophic events follow closely behind.For the study, Strategic Business Risk 2008, Ernst & Young and Oxford Analytica interviewed more than 70 industry analysts from around the world to identify […]
By Canadian Underwriter | March 14, 2008
1 min read
Industry
Robert J. Dunn has been named vice chairman of Integro Canada Ltd.Dunn joined Integro in 2005 as managing principal and has successfully established the Integro operation in Montreal. He will continue to manage the Montreal office, which specializes in construction, financial institutions, professional liability and management liability. “I am delighted to recognize Bob’s dedication and […]
ING Insurance Company of Canada has announced the continuation of its full partnership in the Insurance Brokers Association of Canada’s (IBAC) Broker Identity Program.”We continue to recognize the invaluable branding the Broker Identity Program brings the insurance broker profession,” said Derek Iles, president of ING Insurance. “The protective embrace exhibited by the BIPPER is a […]
By Canadian Underwriter | March 13, 2008
The Insurance Corporation of British Columbia (ICBC) has reported a profit of Cdn$642 million for 2007, an increase over 2006’s Cdn$350 million.The corporation also reported high customer satisfaction scores for last year and announced that it would be cutting its optional coverage rates in 2008.ICBC reported Cdn$3.572 billion in premiums written for 2007, a slight […]
Injury risk decreases as vehicle roof strength increases, according to a report by the Insurance Institute for Highway Safety (IIHS). This is a different conclusion from other studies, which found that roof strength had little or no effect on the likelihood of injury, an IIHS release says. Injury rates vary considerably among vehicles in rollovers, […]
2 min read
Red-light camera intersections established to improve traffic safety by discouraging drivers from running red lights have actually increased the number of intersection crashes, a University of South Florida Health Review article suggests.The University of South Florida research cites a number of studies, including a 2003 Ontario study, in support of its contention that red-light cameras […]
Financial Services Commission of Ontario (FSCO) has temporarily suspended the Health Claims for Auto Insurance Guideline (HCAI) at the request of the Insurance Bureau of Canada (IBC). In a letter to the Ontario insurance regulator dated Mar. 10, 2008, IBC recommended the suspension of the operations of HCAI by the close of the business day […]
By Canadian Underwriter | March 12, 2008
Saskatchewan’s insurance brokers are at odds with the province’s credit unions over regulations that allow credit unions to operate insurance brokerages only if the brokerages are “separate and distinct” from credit union premises.The province’s Credit Union Insurance Business Regulations state: “No credit union shall carry on business in Canada in premises that are adjacent to […]
By following five core strategies, managing general agents (MGAs) and managing general underwriters (MGUs) can maximize opportunities and succeed in soft market conditions, says Guy Carpenter & Company LLC.The reinsurance broker’s paper, ‘Optimize in a Soft Market, Succeed in Any Market Five Strategies for MGAs and MGUs,’ outlines five key “high-gain” strategies for business improvement […]
Ismail El-Maach has been appointed senior engineer with MEA Forensic Engineers & Scientist’s injury biomechanics group.El-Maach has more than 13 years of biomechanical engineering experience, with a special emphasis on testing biological materials and developing safety systems, an MEA release says.El-Maach joins the firm at its first anniversary in the Toronto market and its 25th […]
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