Risk
CANADIAN INSURERS OVER-RELYING ON ONE VENDOR’S CATASTROPHE MODEL: KPMG There is a potential systemic risk in the use of catastrophe models in Canada because of the property and casualty industry’s “extensive reliance on vendor-provided catastrophe models, particularly with extensive reliance on one vendor in Canada,” KPMG says in research contracted by the Insurance Bureau of […]
April 30, 2010
1 min read
NEW BRUNSWICK’S HOME INSURANCE MARKET SHOWING SIGNS OF “INSTABILITY” New Brunswick’s Consumer Advocate says the province’s home insurance market is showing signs of “instability.” “One of the biggest issues is the fact that home insurance premiums are on the rise,” the Consumer Advocate says in its 2009 annual general report. “This is due to increased […]
2 min read
Gordon McBean, director of policy at the Institute for Catastrophic Loss Reduction (ICLR), recently received the Order of Canada for his research on climate change.
By Vanessa Mariga, Associate Editor | April 30, 2010
5 min read
Insurers looking to make a buck in North American commercial trucking lines should prepare for a number of long-term challenges before taking the plunge.
By Angelique Magi | April 30, 2010
6 min read
Underwriting terrorism insurance is a challenging task, since the likelihood of terrorist attacks is difficult to predict and the potential liability is enormous.
By Marc Sand | April 30, 2010
Companies improving their data management processes might find a correlated improvement in their risk modeling.
By Wesley Gill | April 30, 2010
B.C.'s insurance regulator believes OSFI's amendments to Part XIII reduce regulatory transparency and increase risk. And so whereas the CCIR issued a voluntary consent and undertaking to deal with any potential uncertainty, B.C. decided to legislate protection.
4 min read
Essentially New Brunswick's proposed ban on credit scoring threatens to undo whatever more subtle approach the CCIR might have deemed appropriate.
By David Gambrill, Editor | March 31, 2010
3 min read
DIRECT RESPONSE INSURERS OPPOSE NEW BRUNSWICK BAN ON CREDIT SCORING The Canadian Association of Direct Response Insurers (CADRI) has appealed to New Brunswick’s premier and minister of justice and consumer affairs to oppose the province’s proposed ban on the use of credit by home and auto insurers. The provincial government tabled Bill 43 in February. […]
March 31, 2010
CANADIAN INSURANCE SECTOR UNLIKELY CANDIDATE FOR RAPID GROWTH The Canadian insurance sector is unlikely to achieve rapid growth, reports companiesandmarkets.com, a United Kingdom-based online repository of market research reports. In its first analysis of Canadian insurance, it noted the Canadian insurance market is “mature and competitive” and “unlikely to achieve rapid growth through our forecast […]
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