Industry
Aviva Canada has opened up its Community Fund competition for the fourth year, where Canadians can have a chance to win $1 million toward a project that will benefit their community. Canadians can visit and submit ideas that they think will have a positive impact on their local community. Entrants can then rally support from […]
By Canadian Underwriter | September 24, 2012
2 min read
Rating agency A.M. Best affirmed and upgraded ratings for RSA Group of Canada’s companies. Best affirmed the financial strength rating of “A” (excellent) and issuer credit rating of “a” of Royal & Sun Alliance Insurance Company of Canada (RSA Canada) and Western Assurance Company, as well as Quebec Assurance Company. Those companies, known together as […]
Insurers are at least beginning to explore using predictive analytics in their claim operations, but few have actually yet applied it to their businesses, according to recent survey results from Towers Watson. The September 2012 Claim Best Practice Innovations and Measuring their Impact, surveyd 41 chief claim officers (CCOs) between June 5 and July 9 […]
By Canadian Underwriter | September 21, 2012
1 min read
The 2009 to 2011 Toyota Yaris and Suzuki SX4 models were among the cars with the highest frequency of personal injury insurance claims in the United States, according to a new status report. The Insurance Institute for Highway Safety (IIHS) and Highway Loss Data Institute reported that those models, along with several other mini, small […]
Brian Duperreault will retire as president and CEO of Marsh & McLennan Companies Inc. at the end of this year, the firm has announced. Daniel S. Glaser, the current group president and COO, will be Duperreault’s successor as of Jan. 1, 2013. “We are immensely grateful to Brian for the significant turnaround the company accomplished […]
Mercedes-Benz Financial Services Canada has announced a new affinity auto insurance plan for drivers of the luxury brand’s vehicles. The First Class Insurance program was developed by Marsh Canada Ltd. and Aviva Canada Inc. The program is brokered by Marsh and serviced by OIS Ontario Insurance Service Limited and by Services D’Assurance Youville Inc. in […]
By Canadian Underwriter | September 20, 2012
The European Union could delay new capital rules for insurers, known as Solvency II, Reuters has reported. According to one Reuters’ source, Michel Barnier, the EU commissioner in charge of regulation, has suggested delaying the new rules by one year to 2015. The European Insurance and Occupational Pensions Authority are working to complete a study […]
Michael J. Buzzeo has been appointed vice president of ClaimsPro Inc.’s special risk division (SRD), the company announced Sept. 20. An executive general adjuster with ClaimsPro, Buzzeo has a strong network nationally and internationally with brokers, underwriters, and clients, the company said in a statement. He will now help lead the growth strategy at ClaimsPro, […]
EGI Financial Holdings Inc. has appointed Alvin Sharma as the company’s new chief financial officer, effective Sept. 24. Sharma previously has held roles at RBC Capital Markets, American Life Insurance Co. and Sun Life Financial. He has expertise in investor relations, regulatory and rating agency management, capital markets, investments, mergers and acquisitions, capital management and […]
The Financial Services Commission of Ontario issued three insurance scam warnings on Sept. 19. FSCO has warned that Trans Direct Insurance Co. is not licensed to do insurance business in Ontario. It also warned that two individuals, Jermaine Nathaniel Jones and Abdoul-Karim Traore are not licensed to do insurance business in Ontario. They claimed to […]
By Canadian Underwriter | September 19, 2012
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