Industry
Unionized employees of the Insurance Corporation of British Columbia (ICBC) voted overwhelmingly on Apr. 25 in favour of job action. The Canadian Office and Professional Employees Union (COPE), Local 378, which represents 4,600 ICBC workers, says its members have gone without a contract for two years. “The strength of this vote is a clear indication […]
By Canadian Underwriter | April 26, 2012
1 min read
SCM Risk Management Services (RMS) has launched iClarify services to Manitoba brokers using the Compu-Quote quoting platform and PowerHouse evaluation platform. The initial launch will focus on the Greater Winnipeg Area and the most heavily populated city centres across the province. Enhanced data and imagery services will continue to go live across Manitoba throughout 2012. […]
By Canadian Underwriter | April 25, 2012
Software provider Applied Systems is supporting the Centre of the Study of Insurance Operations (CSIO) XML eDoc standards in the company’s next major release of its TAM broker management system, expected 2012 Q4. Applied Systems has already begun work with carriers on implementing the delivery of eDocs into broker systems. Driven by the Insurance Brokers […]
2 min read
Almost half of the reinsurers based in Bermuda reported net losses last year due to significant catastrophe activity, according to the Association of Bermuda Insurers and Reinsurers (ABIR). Ten out of 22 member companies of the ABIR reported net losses, but premium income for the entire group rose to $65 billion in 2011, up from […]
An explosion and fire at the Lakeland Mills sawmill in Prince George, B.C. on Apr. 23 was the second such incident in four months and will contribute to an already difficult insurance market for lumber operators in the province. The explosion killed one and injured 24 workers. No damage estimates were available at press time. […]
Civil unrest partially arising from global economic austerity measures has prompted downgrades in 37 countries in Aon’s annual risk assessment of global terrorism and political violence. Citing austerity measures as a byproduct of the global economic crisis, Aon Risk Solutions, the global risk management business of Aon plc (NYSE: AON), is warning companies to take […]
By Canadian Underwriter | April 24, 2012
Better risk management and more sophisticated risk modeling platforms are two main reasons behind the global reinsurance sector’s “resiliency” in the face of near-record catastrophe losses last year, says A.M. Best in a recent report. “In a word, ’resilient’ might best describe the financial position of global reinsurers, considering the volatile economic conditions and the […]
New research will provide a “clearing house” of information on wildlife-vehicle collisions, an issue that costs more than $200 million per year, according to the Traffic Injury Research Foundation (TIRF). TIRF is creating a database that will summarize all available data about these collisions in Canada and look at ways to made roads safer and […]
The ACE Group has announced new leadership appointments in its Canadian operations. Andrew Hollenberg, regional senior vice president of accident and health (A&H) and life for ACE Europe, has been appointed as country president of ACE Canada. In this position, Hollenberg will oversee ACE’s property and casualty, life and accident and health insurance operations in […]
SCM Risk Management Services (RMS) has launched iClarify services to Alberta brokers using the Compu-Quote and PowerQuote platforms. The initial launch focuses on Calgary, Edmonton, Lethbridge, Red Deer and Medicine Hat, with enhanced data and imagery continuing to go live throughout 2012. “We are excited to offer iClarify’s residential data validation platform to Alberta brokers […]
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