Claims
Dalhousie University in Halifax was home to a sea of nervous faces at the RIMS Canada conference Sept. 18, as students tested their skills playing Risk, a classic game of strategy, for their chance to win a $5,000 bursary from Aon Reed Stenhouse (Aon). As the clock ticked down, six players had avoided elimination and […]
By Canadian Underwriter | September 18, 2007
3 min read
Risk
Baby Boomers and younger business owners have different attitudes towards technology, according to survey results released Sept. 17 by Ipsos Reid on behalf of Micorsoft Canada Co.The survey was conducted online with 1,230 small- and medium-sized businesses (SMB) owners randomly selected between Aug.10-27, 2007. The accuracy for a sample this size is considered to be […]
2 min read
Nowell Seaman of Saskatoon is the 2007 recipient of the Donald M. Stuart Award, originally created by the Ontario Chapter of RIMS in 1979 to recognize outstanding contributions to the Canadian risk management community.Seaman, manager, risk management and insurance services, University of Saskatchewan, received the award at a special awards presentation at the 2007 RIMS […]
Industry
Chances are that organizations are having a tough time recruiting talent in the age cohort range of mid-20s to mid-30s because not nearly as many people were born into this generation, unlike their predecessor Baby Boomers, David Foot, author of Boom, Bust & Echo, told delegates at the RIMS Canada 2008 Conference in Halifax, Nova […]
1 min read
EGI Financial Holdings Inc. (“EGI”) has announced that its wholly owned subsidiary, Echelon General Insurance Company, is entering the Canadian emergency travel health insurance market through agreements with key distributors, which are expected to generate Cdn$16 million in annual premiums. Until earlier this year, EGI was prevented by a now-expired non-competition agreement from participating in […]
By Canadian Underwriter | September 17, 2007
Contract certainty and shortening service time are key areas to focus on in an effort to improve the service the insurance industry offers its customers, the insurers panel told delegates at the RIMS Canada Conference in Halifax, Nova Scotia. Richard Ward, CEO of Lloyds, commented on how surprised he was when he first entered the […]
The Ontario Superior Court of Justice ordered Chubb Insurance Company of Canada to pay just over Cdn$5 million to Missisauga policyholder Bridgette Sagl, after Sagls house burned down in December 1997.Chubb initially denied coverage based on its (ultimately disproven) theory that arson caused the fire.The court observed that Chubbs reason for denying coverage was influenced […]
The broker panel at this years Risk and Insurance Management Society Canada Conference in Halifax, Nova Scotia heated up when asked to comment on what has replaced contingency fees, with some suggesting that they are here to stay, and others arguing that focus needs to shift to delivering value.The panel, co-chaired by Kim Hunton, RIMS […]
Ontarios insurance regulator, the Financial Services Commission of Ontario (FSCO), in June 2007 obtained a cease and desist order against Unifund Assurance Company, FSCO posted in a quarterly bulletin announcing the outcomes of its regulatory actions.On June 6, 2007, the Superintendent issued a cease and desist order against Unifund Assurance Company for committing an unfair […]
By Canadian Underwriter | September 14, 2007
Although profits in the U.S. property and casualty insurance market were high in 2006, and profits in 2007 are anticipated to be above historical norms, Fitch Ratings questions the sustainability of the U.S. P&C insurance markets financial performance.Looking ahead, the results of 2006 are unfortunately not sustainable over the long term, the ratings agency said […]
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