Risk
A capital adequacy model similar to Solvency II will be implemented in Quebec and Canada by 2011-2012, delegates of the National Insurance Conference of Canada in Montreal were told during the regulatory panel discussion.Jean St-Gelais, president and CEO of Quebecs Autorit des marches financiers (AMF), told the crowd that the AMF has been meeting with […]
By Canadian Underwriter | October 1, 2007
2 min read
Industry
Zurich Canada is working with Vancouver’s Simon Fraser University (SFU) to examine options for adaptation to extreme weather events caused by climate change. The ACT/Zurich Canada Extreme Weather Events program kicks off in May 2008. It will bring together Canadian and international experts to examine the challenges, publicize the issues and recommend policy options to […]
September 30, 2007
1 min read
Claims
To help insurers and other organizations detect vehicle theft, CGI Group, Locator Technologies LLC and National Vehicle Service have announced the creation of a shared database of automobile information for cars in Canada, the United States and Mexico, according to a release. The new service would identify potentially stolen or unsafe vehicles that have been […]
Ontario’s Ministry of Transportation (MTO) is now regulating driving schools and instructors, a move supported by the Insurance Bureau of Canada (IBC). As of Sept. 1, the Ontario government has been regulating schools offering beginner driver education, an MTO release says. A new curriculum standard will be implemented by the end of this year. It […]
Claude Dussault is retiring from his post as president and CEO of effective Jan. 1, 2008. He will become chairman of the company after being elected by the ING Canada board. “Claude has been the main architect of our growth strategy,” Yves Brouillette, chairman of the ING board, said in a release. “Under his tenure […]
7 min read
McLarens Canada, a global claims management firm, and Demers Zajac Vena Insurance Adjusters Inc. have formed a partnership between their respective firms effective Sept. 14, 2007. Demers Zajac Vena Insurance Adjusters Inc. is a commercial loss-adjusting group founded in Montreal in 1987. Its president is John Vena. Together with its private equity partner, Granite Partners, […]
Home
During the current volatile economic environment, the insurance industry needs to be more proactive in developing property reforms — in particular, addressing the increasing number of claims dealing with water exposure — to avoid political intervention like that seen with recent auto reforms, Kathy Bardswick, president and CEO of Co-Operators Group Ltd., told a crowd […]
Reinsurance and risk intermediary Benfield and reinsurer Partner Re have collaborated to produce the Hazard & Risk Science Review 2007, summarizing research findings and conclusions of hazard and risk science papers published in the last 12 months that are most relevant to the insurance and resinsurance markets. Among the many debates cited in the review, […]
The Canadian insurance industry needs to strive for pricing consistency, Richard Ward, Lloyd’s CEO, told an audience at the Risk and Insurance Management Society’s conference in Halifax. For the third year in a row, Lloyd’s underwriters have said that cycle management and profitable underwriting are the insurance industry’s top challenges, Ward said, noting the recent […]
Sixteen insurers and reinsurers are leading a major initiative called ClimateWise, which encourages more climate-friendly customer behaviour. Leading global insurers, reinsurers, brokers and Lloyd’s of London developed the principles behind ClimateWise to promote climate change. The principles are intended to enable companies and organizations throughout the world to add climate change into their operations. They […]
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