Risk
REGULATION OSFI seeks input on draft solvency guidelines The Office of the Superintendent of Financial Institutions (OSFI) is currently seeking stakeholder input on two proposed guidelines. On December 21, OSFI released its draft guideline for Own Risk and Solvency Assessments (ORSA) for federally regulated property and casualty, and life insurance firms, as well as proposed […]
December 31, 2012
6 min read
Accurate underwriting and damage assessment for vehicles relies on having detailed vehicle identification. Absent this, collision repair can become more inefficient and expensive, as well as frustrating for customers.
December 1, 2012
Respondents reported time and productivity losses, serious reputational damage, loss of customer loyalty, legal costs and lawsuits, and regulatory fines.
3 min read
Michel Turcotte, recipient of the 2012 Donald M. Stuart Award, has made his life's work getting risk under control.
The CIP Society Ethics Series: What are the ethical considerations in a situation where a policyholder, having experienced a serious car accident, displays tell-tale signs that he just wants the claims process to be over and done. What if an adjuster responds to that vulnerability by making a settlement offer that is too low?
8 min read
Car-sharing services, along with other developments such as peer-to-peer car renting, are turning the traditional notion of "one driver-one vehicle" on its head. Is auto insurance keeping pace?
7 min read
The numbers don't lie - 2012 looks like it will be the fourth consecutive year of billion-dollar losses for Canadian property and casualty insurers. And with factors leading to increasingly more expensive natural catastrophe years unlikely to improve anytime soon, large losses are now the "new normal."
5 min read
1 Mark Wilson [1], a CEO of AIA Group Ltd. until 2010, will assume the helm as CEO of London-based Aviva PLC on January 1, 2013. Wilson, a former CEO of AXA Asia Pacific Holdings Ltd. and former CEO of AXA China Region Ltd., joined Aviva’s Board of Directors on December 1. When Wilson begins […]
2012 has been a relatively quiet year for reinsurance when set against the catastrophes of 2011. Executives in the Canadian property and casualty reinsurance industry were asked to look ahead to 2013 and report what they see on the horizon.
November 1, 2012
11 min read
Easy is not always better when it comes to data collection. Effective data management is critically important to avoid having valuable information become a needle hidden in a very big haystack.
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