Industry
Randy Carroll has been appointed CEO of the Insurance Brokers Association of Ontario (IBAO). With more than 20 years of experience in insurance brokerage operations, Carroll has held the position of chief operating officer of the IBAO since April 2005. Over the past two years, Randy has earned the respect of many industry leaders, and […]
By Canadian Underwriter | April 11, 2007
1 min read
Auto
ICBC is showing its Olympic spirit by joining a partnership to produce special, one-of-a-kind 2010 Winter Games Licence Plates.The plates will be available to B.C. drivers for purchase starting Apr. 16.”British Columbians are excited and proud to be hosting the 2010 Olympic and Paralympic Winter Games and these licence plates are one more way for […]
2 min read
Allegient Systems, a software and service provider, has launched its Independent Adjusters ASP Bill Review (IA ASP) program, promoted as the industrys only Web-based end-to-end bill review solution designed specifically for independent adjusters.Available for immediate use, IA ASP expands the capabilities of Allegients IA Bill Review solution (available since 2001) by enabling independent adjusters to […]
AIG Auto Insurance announced a pilot project for auto policyholders with teen drivers that would allow parents to equip their vehicles with a GPS device.AIG Teen GPS Program allows parents to determine the exact location of the teens car via the Web or any phone, explains an AIG release.Additionally, the AIG Teen GPS Program will […]
By Canadian Underwriter | April 10, 2007
Claims
Swiss Re has structured and placed US$150 million [approximately Cdn$172 million] of securities covering flood and earthquake catastrophic events in Canada, Great Britain, and the United States on behalf of Allianz Global Corporate & Specialty AG.The multiperil issuance is part of a US$1 billion program designed to provide protection against high severity losses incurred from […]
Risk
Political risk trends in emerging markets are taking on a troublesome retro feel back to the 70s, in a sense led by energy-sector expropriation moves in South American countries, A.M. Best has reported.The A.M. Best analysis cites the findings of a political risk index calculated by the emerging markets team at broker Alliant Insurance Services […]
The Alberta Civil Trial Lawyers Association (ACTLA) has officially started its Charter challenge of the Alberta governments automobile insurance minor injury policy in the Court of Queens Bench (Calgary) before Mr. Justice Neil Wittmann.ACTLA President Arthur Wilson, Q.C. says in a press release that the association wants the court to determine whether the minor injury […]
The financial costs of extreme weather events have been increasing by an average of two per cent a year since the 1970s, Dr. Robert Muir-Wood, chief research officer of Risk Management Solutions (RMS), said in response to the chapter, The Summary for Policymakers in the Intergovernmental Panel on Climate Changes (IPCC) most recent report.Dr. Muir-Wood […]
By Canadian Underwriter | April 9, 2007
The Loyalist Insurance Group Limited (TSX: LOY) announced that it has filed revised financial statements for the year of 2005, as well as interim periods throughout 2006. The annual and interim management discussion and analysis (MD&A) have been revised to: include certain disclosure items previously omitted; provide more detailed discussions of the companys results of […]
There are growing concerns about the governance and management of data the insurance industry is required to maintain, particularly in light of enhanced financial reporting requirements.The concerns were expressed by senior insurance executives attending the Actuarial Transformation Roundtable, organized by the insurance and actuarial advisory services (IAAS) practice of Ernst & Young LLP.A survey of […]
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