Industry
The Financial Services Commission of Ontario (FSCO) has released the 2012 indexation percentages for the Optional Indexation Benefit Guideline under both the old and new Statutory Accident Benefits Schedule (SABS). Under the new SABS (effective Sept. 1, 2010), the indexation percentage is 3.2%.Under the old SABS (applicable for accidents on or after Nov. 1, 1996), […]
By Canadian Underwriter | November 22, 2011
1 min read
InsurEye Inc. has launched an online service for Canadian consumers allowing them to compare their insurance spending with their peers. InsurEye collects, validates and analyzes thousands of auto, home and life insurance experiences from people across the country. In order to collect initial data, InsureEye worked with market research and consumer data collection company, Research […]
Companies today face an overwhelming crush of available information, a situation referred to as ‘Big Data,’ and those best able to discriminate between relevant and irrelevant data will emerge as the most competitive.In fact, statisticians may prove to be the corporate heroes of the future, delegates of an SAS Institute (Canada) Inc. seminar heard in […]
2 min read
The third annual Dominion Curling Club Championship, a week-long national curling event presented by The Dominion of Canada General Insurance Company (The Dominion), kicked off on Nov. 21.This year’s event is taking place at the Richmond Curling Club in Richmond, British Columbia from Nov. 21 to Nov. 26.All profits from The Dominion Curling Club Championship […]
With less than two months remaining in 2011, Manitoba has more traffic fatalities than all of last year, Manitoba Public Insurance (MPI) reports. As of mid-November, more than 100 deaths have occurred on Manitoba roadways significantly more than last year’s total of 87, said Ted Hlynsky, vice-president Claims Control and Safety Operations with MPI.”Many of […]
Parent companies of global multinationals may want to consider purchasing excess policies and consider “insurable interests” when structuring multinational insurance programs with risks located in Canada, according to a recent report by The ACE Group.Co-authored by Suresh Krishnan, general counsel for ACE’s multinational client group, and Fernand Vartanian, general counsel for ACE Canada, the report […]
By Canadian Underwriter | November 21, 2011
Alleghany Corporation, a U.S. holding company, has acquired Transatlantic Holdings Inc. for approximately $3.4 billion. Under the terms of the agreement, Transatlantic common shares will be exchanged for per-share consideration consisting of 0.145 Alleghany common shares and $14.22 in cash. Transatlantic stockholders may elect to receive cash or stock consideration, subject to proration in the […]
The odds of being injured in a crash are 25% lower for people in hybrids than people travelling in non-hybrid vehicle models, the Insurance Institute of Highway Safety (IIHS) found. IIHS cited a study conducted by its affiliate, the Highway Loss Data Institute (HLDI). In the study, HLDI estimated the odds that a crash would […]
Alcohol-related road deaths are decreasing in Canada, according to the Traffic Injury Research Foundation (TIRF). In Canada, alcohol has been a factor in 30% to 40% of road deaths for the past 15 years. Although the percentage of alcohol-related road deaths in Canada has hovered between 30% and 35% for the past decade, data show […]
Insurance Bureau of Canada (IBC) and Groupement des assureurs automobiles (GAA), have completely redesigned their infoinsurance.ca website to answer most frequently asked questions by consumers more effectively.IBC shares the site with the GAA, which performs a wide range of activities related to the auto insurance industry, both on behalf of its members and as an […]
By Canadian Underwriter | November 18, 2011
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