Industry
Even slight increases in horsepower by automakers results in increased insurance claims costs, according to a study by the Highway Loss Data Institute.The addition of just one horsepower per 100 pounds of vehicle weight resulted in an estimated 5% increase in losses under collision coverage per insured vehicle year, the Insurance Institute for Highway Safety […]
By Canadian Underwriter | February 4, 2008
1 min read
Genworth Financial Canada has named a Grade 6 student from Edmonton the winner of its national writing contest, “Habitat for Humanity Meaning of Home.”Marissa Nahirney was selected as the top contestant from more than 1,900 entries a Genworth release says.A Cdn$5,000 grant, sponsored by Genworth Financial Canada, will be dedicated to the Calgary affiliate of […]
By Canadian Underwriter | February 1, 2008
The sudden death of Brokeback Mountain movie star Heath Ledger occurred while he was in the midst of filming a new movie, focussing attention on a little-discussed aspect of the insurance industry coverage for the incapacity of an actor or other key member of a film crew in the middle of producing a movie, BestWeek […]
2 min read
Employees of the Vancouver Gore Mutual office have received the Community Spirit Award for Best Employee Campaign in 2007 at the United Way Spirit Award Celebration. “This year, our United Way campaign donations increased by 46% and, with 90% employee participation, we were able to reach our highest employee contribution to date,” Terrilynne Halladay, personal […]
Insurers seeking to deny auto accident benefits payments on the basis of an alleged conspiracy to defraud will have to meet a very high standard of proof, based on the Financial Service Commission of Ontario (FSCO)’s decision in a recent arbitration case.In Patience Sarpong v. TD Home and Auto Insurance Company, TD Home refused to […]
Manitoba Public Insurance (MPI) has reported a profit of Cdn$80.4 million for the nine months ending Nov. 30, 2007, marking an increase over the Cdn$59.1 million reported during the same period in 2006. MPI later this spring intends to return Cdn$63 million to policyholders in the form of a one-time rebate equalling 10% of the […]
January 31, 2008
When the CSIO Portal closed shop in late 2005, independent insurance brokers in Canada were left wondering how they would communicate in the future with multiple insurers through their broker management systems. To a certain degree, their professional lives were — and still are — riding on the answer to this question. The CSIO Portal […]
By David Gambrill | January 31, 2008
4 min read
The Canadian Council of Insurance Regulators (CCIR) is consulting the insurance industry on the incidental selling of insurance (ISI). “As a result of potential licensing and consumer issues stemming from the sale of insurance incidental to some other core business activity, the [CCIR] created the ISI working group,” the CCIR says in a letter sent […]
Risk
Insurance Bureau of Canada (IBC) has reiterated its long-standing call to the government of Newfoundland and Labrador to remove taxes on insurance premiums. “The people of Newfoundland and Labrador have the highest insurance tax burden in the G8,” Don Forgeron, IBC vice-president, Atlantic region, said in a release. “For every dollar of home, car and […]
INSURANCE AND THE NEXUS GENERATION: The Internet's incarnation as a platform has arrived for many consumer-oriented Web sites ranging from MySpace to YouTube to Second Life. The architecture underlying these collaborative, user-oriented sites and the features they offer are generally called Web 2.0, which refers to a host of technologies such as Ajax, RSS and Software as a Service (SaaS). The big question: does it mean anything to the insurance industry?
By Craig Harris | January 31, 2008
13 min read
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