Risk
Underwriters and accountants will have many opportunities to advise companies in interpreting and implementing the Sarbanes-Oxley Act, but should be aware of the increased exposure to risk, according to information recently revealed at the PLUS E&O Symposium. Douglas Carmichael, chief auditor, Public Company Accounting Oversight Board, reviewed the requirements of the Act and the responsibilities […]
By Canadian Underwriter | July 12, 2005
2 min read
Industry
A.M. Best Co. has downgraded the ratings of four Canadian insurers and upgraded the ratings of nine. The downgraded ratings affected the following Canadian property/casualty companies: Personal General Insurance Inc B+Primmum Insurance Company BTD General Insurance Company BTraders General Insurance Company B The upgraded ratings affected the following Canadian property/casualty companies: Algoma Mutual Insurance Company […]
1 min read
The Royal Bank’s RBC Insurance subsidiary recently opened its first retail office evading the federal Bank Act’s ban on the sale of insurance at bank branches.The new office is located in Scarborough, ON and is located directly beside a Royal Bank branch. The new insurance office holds a separate lease, signage and entrance from the […]
People who use their mobile phones while driving are four times more likely to have a car crash than those who don’t, even if they aren’t holding the phone, according to a recent study published in the British Medical Journal. Researchers of the George Institute for International Health at the University of Sydney concluded that […]
Claims
Almost immediately after London’s deadly terrorist bombings, Canada’s 24-hour emergency preparedness system kicked into effect and worked as intended. However, in a recent speech at an international conference on disaster management, federal public safety Minister Anne McLellan also highlighted the need to ensure close collaboration between mass transit systems and shore up training for security […]
B.C. Ferries are continuing to experience trouble with vessels, as another ferry recently lost power last night while approaching a berth in the southern Gulf Islands. Before it docked at Sturdees Bay on Galliano, the Queen of Cumberland lost three of four engines, dropping anchor until engineers were able to restart engines and conduct tests. […]
Auto
The recent accident which left an RCMP officer dead after a truck driver hit his parked cruiser; has raised concerns regarding the amount of time truckers are behind the wheel and the number of trips they take without hiatus. Preliminary investigations will examine how many trips the truck driver made on the day of the […]
By Canadian Underwriter | July 8, 2005
ING’s insurance subsidiaries are assisting more than 5,000 customers to clean up and repair the water and hail damage incurred as a result of recent storms in southern Alberta. Jetse de Vries, chief operating officer for ING Canada, Western Region, says the Company’s brokers and response team have been assembled since the first storms hit, […]
The first results of a national study on auto insurance rates, recently released by the Consumers’ Association of Canada, found that consumers in Alberta pay an average of 30% more for their auto insurance than BC consumers. Auto insurance rates in Alberta averaged at around $1,714 as compared to $1,324 in BC. A comparison of […]
Recent terrorist attacks in London were strategically formulated to occur during the G8 meeting a tactic that risk analysts from Risk Management Solutions (RMS) say is characteristic of a Islamic militant terrorist attack., according to terrorism risk analysts at Risk Management Solutions (RMS). RMS theorized its findings based on its global terrorism risk model, which […]
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