Industry
A.M. Best’s Bermuda market is in a position to see a return on equity of slightly better than 10% for this year, the rating agency has noted in a new report. In it’s 2012 Special Report: Bermuda – Market Review, A.M. Best noted that although 2012 won’t see the high level of return seen at […]
By Canadian Underwriter | December 4, 2012
2 min read
A number of complaints over the use of personal financial information by insurance companies in Prince Edward Island – a practice that has resulted in some individuals being denied property or auto coverage insurance – has spurred the development of draft regulations that propose banning the practice. Last week, the PEI government released draft regulations […]
4 min read
The Insurance Bureau of Canada says the Ontario NDP’s consumer affairs critic is cherry picking his facts on auto insurance premiums in the province, after the MPP presented research on the issue Monday. NDP consumer affairs critic and Bramalea-Gore-Malton MPP Jagmeet Singh argued Monday that insurance companies “have been saving 25% per insured driver following […]
By Canadian Underwriter | December 3, 2012
3 min read
Software maker SAP AG announced Monday it is offering what it calls a “rapid deployment solution” for insurance companies who will need to meet the European Union’s Solvency II reporting standard for capital adequacy and risk management. The product “helps insurers reengineer their reporting processes more quickly,” Walldorf, Germany-based SAP stated in a press release. […]
An association representing 12 auto manufacturers is promoting “driver assist” technologies, such as lane departure and blind spot warnings, with the launch of a YouTube channel “concurrent with” the Los Angeles Auto Show. “More than 90 percent of crashes involve driver error of some kind, so automakers created a range of driver assist systems that […]
Analytical research firm MSA Research is launching a new conference targeted toward brokers, MGAs and insurers involved in the commercial space in Canada. The first Canadian Commercial Insurance Summit (CCIS) will take place June 23 to 25, 2013 in Muskoka, Ont. The event will include expert speakers, breakout sessions and networking opportunities. The CCIS agenda and […]
It's a safe bet that Canada's property and casualty insurers are in for big changes. How dramatic those changes will be, what form they will take and when they will ultimately unfold are expected to fall on many points along the spectrum. Building on hard data and emerging trends, insurance companies are blending old with new as they prepare for all shades of risk.
December 1, 2012
25 min read
Seismic microzonation mapping of earthquake-prone zones will help provide enhanced understanding of the potential for spatial distribution of hazards, thereby offering a basis for policy-making and building code requirements.
By Professor Dariush Motazedian, Earth Sciences, Carleton University and James Hunter, Emeritus Scienti | December 1, 2012
5 min read
REGULATION Court upholds 60-day wait limit for mediation The Court of Appeal for Ontario has upheld a decision by a lower court to dismiss the appeals by insurers in a case involving wait time for mediation before the Financial Services Commission of Ontario (FSCO). Hurst v. Aviva Insurance Company details circumstances in which four individuals […]
Editor’s Note: An article that originally ran on Nov. 29 “ICBC cuts 203 more jobs, continues restructuing,” incorrectly stated that the 203 positions being eliminated were in addition to a previously announced 250 eliminated positions. The 203 are actually part of the 250 eliminated positions, not in addition to them. The revised article is below. […]
By Canadian Underwriter | November 30, 2012
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