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What does the future hold for the insurance industry?
The 121 insurance CEOs surveyed for PwC’s annual global survey cite the current economic uncertainty as the greatest threat to growth in the short term
Category: Canadian Insurance
IBAO calls for ban on credit scoring in personal property insurance rate setting
Thirty-five percent of Ontarians say they’d be more likely to vote for an MPP who supports a ban on the use of credit scoring by insurers when setting property insurance premiums
FSCO issues warnings on Royal Insurance, American Insurance
Regulator says neither Royal Insurance nor American Insurance is licensed to do insurance business in Ontario
Canada’s private sector insurers to pool risks from high priced drug coverage
A group of 23 Canadian insurance companies has come up with a plan to spread out the expense of high-priced drug treatments – a move they say will shelter Canadians from the risk of losing employer-sponsored coverage due to cost
OSFI releases Plan and Priorities for 2012 – 2015
By ILSTV Staff on Apr 04, 2012 in Canadian Insurance
OSFI lays out plans; For P&C insurers, the office will work with the industry and professional associations to continue its review of the various risks faced by P&C insurers (e.g. unpaid claims and unearned premium factors, operational risk, foreign exchange risk, aggregation of risks, equity risk)
Economical service to protect small, medium-sized businesses after a privacy breach
Economical Insurance has partnered with identity and data risk management firm IDT911 to offer an insurance solution for Canadian small- and medium-sized businesses that suffer a privacy breach
SGI CANADA launches eQuote tool
By ILSTV Staff on Apr 03, 2012 in Auto & Trucking, Canadian Insurance, Company News, Software & Technology
Brokers are an integral part of this new online service, with customers choosing a broker to complete a purchase online
Crawford & Company (Canada) appoints Sandra Buckberrough as National Account Executive
Sandra will play a leading role in acquiring new business for Crawford and representing us in the marketplace,” said John Sharoun, CEO of Crawford & Company (Canada)
P&C insurers with earthquake exposure in BC, Quebec must report to OSFI
P&C insurers must report to OSFI their earthquake exposure by April 15
Kingsway Financial reports Q4, year-end results
Insurer reports Q4 net loss of $10.6 million and loss of $27.4 million for the year
IBC ‘encouraged’ about government’s commitment to disaster mitigation
Don Forgeron, President and CEO of Insurance Bureau of Canada, is encouraged that the Government is committed to discussing issues associated with the impact of severe weather
CAMIC 2012 Midterm Convention-Interview with Normand Lafreniere
Interview with CAMIC President Normand Lafreniere
Budget 2012: Government will clarify the separation of insurance and banking
“The Government has a long-standing policy of separating the business of insurance from the business of banking,” the Budget reads
Desjardins Financial Security surpasses $2 billion of in-force group insurance premiums
Over the past 10 years, in-force premiums have risen from $616 million in 2001 to the current $2 billion, for an average annual growth of 12.2%
The Co-operators’ Kathy Bardswick on the role of co-operatives
“Cooperatives are a reminder to the international community that it is possible to pursue both economic viability and social responsibility.” UN Secretary-General, Ban Ki-moon
Sussex Insurance Sponsors Ten Scholarships for Newcomers to the BC Insurance Industry
“I like to think that we give people chances and by giving a person a chance to get in the business it’s a good thing. They’ll at least remember Sussex as their career progresses and we’ll have the satisfaction of knowing we did something good.” Ken Armstrong
Ontarians willing to report insurance fraud, but don’t know how
Consumers understand and recognize insurance fraud, but are stumped when it comes to reporting procedures
Increase in weather-related, commercial claims hits Desjardins General Insurance Group’s 2011 profit
“Overall, 2011 was an excellent year and we are taking steps to ensure this success continues despite the challenges of a competitive market and a low interest rate environment,” said Sylvie Paquette
Busted: Four true tales of Canadian insurance fraud
To mark March as Fraud Awareness Month, IBC has compiled a few of the more bizarre fraud cases it has come across lately
