Industry
Risk Management Services Inc. (RMS) has launched iClarify services throughout Quebec. iClarify is a validation tool providing brokers and insurers with residential property intelligence.More than 25 brokerages with portfolio representation across Quebec took part in pilot testing, which ran from Nov. 2010 through the first three quarters of 2011. As a result of the provincial-wide […]
By Canadian Underwriter | November 25, 2011
1 min read
Nine out of 10 Canadians feel no safer on the roads today than they did five years ago, according to a poll conducted for the Canadian Automobile Association (CAA).Forty-five per cent of 5,076 Canadians polled reported feeling less safe when they get behind the wheel than they did five years ago. Another 43% said they […]
Recent economic turmoil in Europe has further exacerbated the delay and uncertainty of the implementation date of Solvency II, potentially creating a huge strain on companies during 2013, said Nick Dexter, a partner in KPMG’s UK operations.Dexter offered a Solvency II update during KPMG’s 20th Annual Insurance Issues Conference in Toronto on Nov. 24.The original […]
By Canadian Underwriter | November 24, 2011
2 min read
Ontario’s Risk-Sharing Pool (RSP) and Facility Association Residual Market’s auto loss ratios showed signs of improvement in the first half of 2011, possibly indicating a positive effect of the 2010 auto reforms, said Graham Gersdorff, senior valuation analyst at the Facility Association.Gersdorff spoke at KPMG’s 20th Annual Insurance Issues Conference in Toronto on Nov. 24. […]
Severe weather and climate change can call insurers’ pricing assumptions into question, create work overloads in response to large claims events and potentially lead insurers to cut back on offering certain forms of coverage, according to a survey conducted by Quebec’s insurance regulator.L’Autorité des marchés financiers (AMF) released the study, Managing Climate Change Risk, on […]
A group of six Alberta incorporated property and casualty insurers reported a consolidated net income of $23.4 million for the first nine months of 2011, marking a drop from the $43.7 million reported during the same period of 2010. The six insurers include:•Alberta Motor Insurance Company;•Canadian Farm Insurance Company;•Fortress Insurance Company;•Millenium Insurance Company;•Peace Hills Insurance […]
By Canadian Underwriter | November 23, 2011
A Saskatchewan law enforcement traffic blitz resulted in more than 200 drivers being fined for using a cell phone while driving.Operation HandsFree was held on Nov. 17 and 18 across Saskatchewan. Traffic enforcement officers watched for drivers talking or texting with a hand-held cell phone and raised awareness of the dangers of distracted driving, an […]
Historical capital levels of Guy Carpenter’s Global Reinsurance Composite between 1998 and 2011 Q2 suggest reinsurance rates may soon be on the rise.As of 2011 Q2, the capital level of reinsurers grouped in Guy Carpenter’s Reinsurance Composite approached just over $160 billion, which is touching the trend line. When capital levels are above the trend […]
Auto claims increase 49% during the winter months between December and February, according to Aviva Canada’s annual statistics. Slippery roads, whiteout conditions and other weather-related factors contributed to more than $37.1-million auto collision claim payments made by the insurer during the winter of 2010, an Aviva Canada release says. The collision claim rate by insured […]
More than 50 public, private and not-for-profit organizations from across Toronto region have banded together to better protect the region’s residents, organizations, infrastructure and environment from extreme weather. The WeatherWise Partnership, convened by the City of Toronto and CivicAction, will identify risks and prioritize areas for action and investment by businesses, communities, organizations and governments […]
By Canadian Underwriter | November 22, 2011
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