Risk
IBC's introduction of new tech for the collection of auto insurance data will have a number of other, ancillary benefits
By Susan Frakes, Chief Information Officer, Insurance Bureau Of Canada | January 31, 2008
3 min read
Using a fire underwriting survey (FUS) in conjunction with geographic information systems (GIS) gives underwriters far greater detail for their risk analyses
By Vanessa Mariga | January 31, 2008
4 min read
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Astorm that hit Ontario at the beginning of January is estimated to have resulted in roughly Cdn$50 million in insured damage, according to the Insurance Bureau of Canada (IBC). The majority of the damage was due to sewer backup, in addition to a lot of personal property claims, IBC reported. Also, there was a small […]
January 31, 2008
1 min read
Keal Technology and ING Insurance Company of Canada announced a “commercial integration relationship,” in which Keal’s commercial management system (CMS), comXP, will exchange data with the ING Insurance broker application SaversCL. Using CSIO XML standards, data can be exchanged between broker and insurer using CMS applications like Keal’s comXP, a Keal release says. The integration […]
7 min read
Industry
Insurers need to work with governments to ensure policyholders are protected from increasing water damage
By Katherine Bardswick, President And CEO, The Co-Operators General Insurance Company | January 31, 2008
2 min read
Today, a recurrence of the 1998 Ice Storm in eastern Ontario and Quebec would result in total insured losses of between US$1 billion and US$3 billion — potentially twice the US$1.3-billion cost incurred in 1998, according to a retrospective report by Risk Management Solutions (RMS). RMS released the report on the 10th anniversary of the […]
The Canadian Council of Insurance Regulators (CCIR) is looking to foster dialogue between regulators and stakeholders on the basic approaches to risk-based market conduct regulation (RbMCR) in Canada. RbMCR means directing regulatory efforts to the most significant issues that either have the greatest potential for consumer harm or that could weaken public confidence if left […]
Another year of comparatively mild losses for the reinsurance market in 2007 means “any remaining post-loss caution from previous years is rapidly dwindling,” according to the report Changing the Game, published by Benfield, an independent reinsurance and risk intermediary. The report finds property catastrophe rates at the January 2008 renewals are continuing to decline. “Risk-adjusted […]
Multinational organizations face elevated political and economic risks in 25 of the 50 largest global economies, according to an analysis released by Aon Trade Credit Global. Such risks include business interruption caused by war, terror attacks and political interference, Aon reports. Political and economic risk is highest in the oil-rich nations of Iran, Nigeria and […]
Bill 107, An Act to Amend the Human Rights Code, could increase damage awards, including punitive damages, Martin Smith, associate lawyer with McCague Peacock Borlack McInnis & Lloyd LLP, told Ontario Risk and Insurance Management Society (ORIMS) members at a luncheon seminar in January. Bill 107 sets out to create an efficient way to deal […]
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