Industry
Verisk Crime Analytics has launched two new national information-sharing systems for Canadian insurers and policyholders to fight cargo and heavy equipment theft. The CargoNet and National Equipment Register (NER) are already supported by several Canadian insurers and fleets, and law enforcement agencies are also interested in using the tools in their investigations, according to Verisk. […]
By Canadian Underwriter | September 12, 2012
1 min read
Claims
An insurance company cannot recover medical examination expenses from another insurer under the provincial loss transfer scheme, according to a recent 2-1 decision from the Court of Appeal for Ontario. In the case, Wawanesa v. Axa, the first party insurer (Wawanesa) sought to recover from the second party insurer (Axa) indemnification for multiple medical assessments […]
2 min read
The remarkable clustering of global natural catastrophes in 2010 and 2011 revealed unexpectedly expensive “cold spot” losses in areas not previously considered risky, notes a new report from Guy Carpenter. This clustering demonstrates there are growth opportunities in emerging economies that pose a unique set of challenges to reinsurers, says Cold Spots Heating Up: The […]
Insurance professionals in Saskatchewan have recently gained access to a new Level 1 licensing program from ILScorp. The ILS Introduction to General Insurance (ILS IGI) program is now accredited by the Insurance Council of Saskatchewan, notes a statement from ILScorp, a provider of insurance and financial services education and training. “We listened to our students […]
Aon Benfield recently launched a loss calculation platform that aims to help insurance companies better understand risk and vulnerability based on their actual loss experience and current portfolio of business. ELEMENTS 7, a tool designed by Impact Forecasting, gives insurers access to 30 catastrophe models spanning over 20 territories and six key perils. Aon Benfield […]
insPRESS
10 new industry event galleries have been added to the Photo Gallery at canadianunderwriter.ca and are featured in the AUGUST 2012 issue of Canadian Underwriter magazine: http://www.canadianunderwriter.ca/gallery The 10 Photo Gallery Updates include: – Aviva Canada’s National Special Risk Casualty Olympics Opening, July 27, 2012 – Giffin Koerth First Annual Golf Tournament, July 20, 2012 […]
By Canadian Underwriter magazine | September 12, 2012
The risk management profession is evolving from a “defensive” approach to one that must offer broader value for an organization, and successful risk leaders must be adaptive, says a new report from RIMS. The new executive report, The Evolving Role of the Risk Professional, released during the RIMS Canada Conference, looks at the history of […]
PERILS AG, a European catastrophe insurance data provider, has launched a new project to provide satellite-based flood footprints during and after major flood events. The Zurich-based company is working with the European Space Agency to provide the information. Industry participants will be able to download flood footprints from PERILS’ website. That information can then be […]
The CIP Society has announced five recipients of its National Leadership Awards for 2012. This year’s award recipients are: Established Leaders: Emerging Leaders: The National Leadership Awards were created during the CIP Society’s tenth anniversary to recognize achievement in the Canadian property and casualty industry. Now in its fourth year, it is the only national […]
Damages from the two most recent serious storms in Alberta have amounted to more than approximately $200 million, new data from Insurance Bureau of Canada suggests. The larger of the two storms was on Aug. 12, when a severe thunderstorm and hail hit the region around Calgary. There were reports of hail as large as […]
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