Risk
Cybercrime is on the increase in the United Kingdom and elsewhere, and risk managers need to be better prepared to deal with cases of Internet-crime including Internet fraud, junk email or ‘spam’, viruses and hacking, according to Lloyds of London.In 2004, credit card fraud over the Internet cost the United Kingdom 117 million (Cdn$264.5 million) […]
By Canadian Underwriter | April 9, 2007
2 min read
The CIP Society, the professionals division of the Insurance Institute, has launched a series of monthly “emerging trends and issues” papers to focus discussion by experts on a variety of leading-edge topics.The first in the series is an analysis of pandemics, which is currently available to members online. Subsequent papers are to feature subjects such […]
By Canadian Underwriter | April 5, 2007
1 min read
Claims
The insurance industry should start planning and modeling for a higher level of losses across the world by the middle of this century, as sea levels rise and large portions of polar ice sheets begin to melt, according to a report by Lloyds of London.In its report, 360 Risk Project, posted online, Lloyds warns that […]
Industry
Flanders Insurance Management and Administrative Services Ltd. has pleaded guilty to 210 counts filed against it by the Autorit des marches financiers (AMF) and has been ordered to pay more than $200,000 in fines.The Winnipeg-based business pleaded guilty to the charge of: selling an insurance product without being registered with the AMF as a damage […]
Integro Ltd. announced the formation of an international insurance and reinsurance business unit, designed to offer unique worldwide insurance and reinsurance business capabilities for independent brokers and partners. Based in London, its brokers will have access to the global markets without limitation, according to an Integro release. Our plan is to develop an independent insurance […]
Home
New research from advisory services firm TowerGroup says the time is right for U.S. property and casualty claims insurers to engage in a more concerted, holistic effort to exploit mobile technology in the claims process.Karen Pauli is a senior analyst in the TowerGroup Insurance research practice and author of the research. She notes that although […]
By Canadian Underwriter | April 4, 2007
The Ontario Insurance Adjusters Association (OIAA) is presenting a seminar in Toronto about the new Health Claims for Auto Insurance (HCAI) system.The Apr. 11 seminar will include an overview of the HCAI system and its capabilities, the changes that can be expected at the adjuster level and what managers can do to prepare.The seminar will […]
KRG Insurance Brokers Inc. has purchased the property/casualty non-transportation business from Safety Insurance Service (1959) Ltd.Effective May 1, 2007, this acquisition reinforces KRGs desire to expand its commercial client base, while drawing upon our expertise in handling commercial and VIP personal asset accounts, Paul Martin, president and chief operating officer of KRG, said in a […]
Auto
Only 40% of current car models provide adequate protection from neck injury or whiplash, according to the Insurance Corporation of British Columbia (ICBC)s rear-crash protection ratings of 2007-model passenger cars.Seat/head restraint designs in 22 cars are rated good, but 59 other cars are rated marginal or poor.Tests were conducted by members of the International Insurance […]
Risk Specialists Companies Inc. (RSC), a member company of American International Group, Inc. (AIG), has announced the acquisition by its subsidiary of substantially all of the assets of Guild Underwriters Napa, Inc. and its affiliated companies, doing business as SRO Napa and owned by Toronto-based Fairfax Financial Holdings Limited.SRO Napa is a California-based managing general […]
By Canadian Underwriter | April 3, 2007
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