Effective Nov. 1, 09, under the Security Services Act, all security workers, including in particular, door security for a liquor establishment must be licensed.
Check the official information from BC gov site.
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The much-anticipated hard market in commercial lines is taking its time to develop, as rates for U.S. commercial property/casualty premiums idled during the second quarter of the year, according to The Council of Insurance Agents & Brokers' (CIAB) quarterly Commercial P/C Market Index Survey.
"We saw no significant change in pricing trends from the first quarter to the second quarter," CIAB president Ken A. Crerar said in a release. "If a hard market is coming, it's up the road a bit. The pricing appears to be more a result of the weak economy than capacity."
Overall rate declines for small, medium and large accounts were fairly consistent, including decreases in the first quarter of the year, according to the CIAB.
Average commercial rates in the United States declined 4.9% in 2009 Q2, compared to a 5.1% decline in Q1.
Continue reading Hard Market Not Imminent: CIAB.
On a request from the Republic of China Hot Springs Tourism Association, the cabinet will discuss next week whether government health insurance should cover visits to the island's geothermal hot springs resorts, Josef Wu, deputy water resources director of the Ministry of Economic Affairs, said on Friday.
Band offers Halloween 'vandalism insurance'
When Skyview High School band students hit the streets last week, selling "vandalism insurance," more than one neighbor cocked an eyebrow.
The pitch: For $5, Skyview High School band members will clean up an insured resident's property if it gets trashed on Halloween. Band director Steven Robertson concocted the idea while at Columbia River and has since brought it to Skyview.
More than a few cynical neighbors have mused aloud that "vandalism insurance" sounds eerily similar to "protection insurance" offered by Sicilian crime families circa 1930.
Robertson said he's heard similar comments over the years.
"Once in a while, people say, 'Are you telling me that you'll do damage to our home?' he said. "Normally, we sell to neighbors the kids know."
Skyview senior Justin Mich has raised $92, including donations. He dresses in his uniform and hits the pavement with a few band buddies.
"I introduce it and then I ask if they want to buy it," Mich said. "No matter how much we don't want it to happen, it does happen."
Hmmm ... Sounds like making an offer that can't be refused.
"It's been pretty positive," he said. "No one's brought up that aspect. Is there anything else you want to ask me?"
Mich was, after all, at practice. And Robertson, to put it mildly, doesn't suffer fools.
Though Robertson is tough - "That smart-ass attitude won't work!" he barked at students during Monday's rehearsal - and not very forgiving of misplaced footsteps, he's not a Mafioso.
He is, however, an expert at raising money. He's taking members of the band to Beijing to perform at the 2008 Summer Olympics. They'll be playing with musicians from 40 countries.
The trip will cost about $2,000 per student. Vandalism insurance is one of the smaller fundraisers; Robertson expects to raise about $500.
"We've sold tangerines and grapefruits," Robertson said. "We've sold turkeys - that's almost a cliché."
When he was in high school, he sold potatoes.
"It worked pretty well, but I couldn't imagine asking the kids to sell potatoes," he said. "With vandalism insurance, people smile if they're seeing it for the first time. The kids go to the same homes year to year. We do some cleanup every year, and those people are pretty pleased."
Auto insurance rates in North Carolina rank sixth-lowest among all states, one rung down from fifth-lowest previously, according to the latest nationwide data.
For more information, click here.
Based on the news from Yahoo, China Insurance Regulatory Commission, said that it would encourage large-scale commercial insurers to launch small-scale insurance, especially in rural areas.
It is good news for Chinese and Oversea investors. Move your hot money into China.
China Life will enhance service quality while developing small-scale insurance products, said China Life board director Yang Chaoqiang.
Credit is such a important tag of a human. You may find it is after reading Don't let bad credit impact your insurance on Yahoo.
Insurers get insurance scores from the three major credit bureaus: Equifax, Experian and TransUnion. They also receive scores from Fair Isaac, the leading maker of credit scores, and ChoicePoint, a provider of identification and credential verification services for business and government.
What can you do to protect your credit or improve your credit?
Pay bills on time, keep balances low and apply for credit only as needed.
As we know, Lloyd's of London is the oldest insurance market. The following is its first half year of 2007 profit report.
Looks good on profit in such a soft market.
Lloyd’s has reported a pre-tax profit of £1.8 billion [approximately Cdn$3.65 billion], for the first six months of 2007, marking a 34% increase over last year.
Lloyd’s saw a profit of £1.35 billion [approximately Cdn$2.74 billion] for the same period of 2006.
The insurer also reported a combined ratio of 82.9% for the first half of 2007, compared to 86.0% for the same period in 2006).
A Lloyd’s release contrasts this ratio with an estimated average of 93% for U.S. property and casualty insurers, 90% for U.S. reinsurers, 86% for Bermuda, and 97% for European insurers and reinsurers.
“This result was driven by the favourable rating environment in 2006, together with the release of prior claims reserves,†a Lloyd’s statement says.
This was balanced by the weaker, but still profitable, underwriting conditions experienced in the first half of the year.
“These profits reflect the recent favourable rating environment and a relatively low level of catastrophe claims,†Richard Ward, Lloyd’s chief executive, said in a statement.
“We are now seeing a downward pressure on rates and a softening of conditions across all classes. This reinforces the continued need to focus on underwriting for profit,†he added.
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Looks good on profit in such a soft market.
Lloyd’s has reported a pre-tax profit of £1.8 billion [approximately Cdn$3.65 billion], for the first six months of 2007, marking a 34% increase over last year.
Lloyd’s saw a profit of £1.35 billion [approximately Cdn$2.74 billion] for the same period of 2006.
The insurer also reported a combined ratio of 82.9% for the first half of 2007, compared to 86.0% for the same period in 2006).
A Lloyd’s release contrasts this ratio with an estimated average of 93% for U.S. property and casualty insurers, 90% for U.S. reinsurers, 86% for Bermuda, and 97% for European insurers and reinsurers.
“This result was driven by the favourable rating environment in 2006, together with the release of prior claims reserves,†a Lloyd’s statement says.
This was balanced by the weaker, but still profitable, underwriting conditions experienced in the first half of the year.
“These profits reflect the recent favourable rating environment and a relatively low level of catastrophe claims,†Richard Ward, Lloyd’s chief executive, said in a statement.
“We are now seeing a downward pressure on rates and a softening of conditions across all classes. This reinforces the continued need to focus on underwriting for profit,†he added.
via
Do you think the Auto Manufacture will get involved into Auto Insurance market? I have not. Now, it may come into East Canada. See news below.
Toyota Canada Inc. is eyeing the car insurance market as part of an aggressive expansion plan, reports the Globe and Mail.
The giant vehicle manufacturer already offers insurance in several other countries, including Japan, Britain, France, Germany, Australia and Thailand, the paper reported.
“If everything goes well, we want to [offer insurance] within a year,†Toyota president Yoichi Tomihara told the Globe and Mail.
While most vehicle manufacturers in Canada have financial services arms, Toyota would be the first to enter the auto insurance market, although its presence would probably be limited to Ontario, Alberta and Atlantic Canada, where the auto insurance market is private, the paper added.
Ryan Lee, a professor in the department of risk management and insurance at the University of Calgary’s Haskayne School of Business, commented on the potential move to the Globe and Mail.
Lee told the paper the ability to sell insurance through an existing dealership network would give an auto manufacturer a major advantage at the outset, but it is not clear to what extent such a move would shake up the market.
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Toyota Canada Inc. is eyeing the car insurance market as part of an aggressive expansion plan, reports the Globe and Mail.
The giant vehicle manufacturer already offers insurance in several other countries, including Japan, Britain, France, Germany, Australia and Thailand, the paper reported.
“If everything goes well, we want to [offer insurance] within a year,†Toyota president Yoichi Tomihara told the Globe and Mail.
While most vehicle manufacturers in Canada have financial services arms, Toyota would be the first to enter the auto insurance market, although its presence would probably be limited to Ontario, Alberta and Atlantic Canada, where the auto insurance market is private, the paper added.
Ryan Lee, a professor in the department of risk management and insurance at the University of Calgary’s Haskayne School of Business, commented on the potential move to the Globe and Mail.
Lee told the paper the ability to sell insurance through an existing dealership network would give an auto manufacturer a major advantage at the outset, but it is not clear to what extent such a move would shake up the market.
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From Aviva Canada,
In the early morning hours of August 3rd lightning struck the Residence Domain Boise, a senior citizen's retirement facility in Gatineau, Quebec, which was insured by Aviva. A fire was ignited in the residence and over 70 firefighters responded. All of the residents were evacuated safely, quickly and without serious injury.
This dangerous incident could have turned into a tragedy if Shawn Brown's loss control recommendations were not followed. Fortunately, one year prior to the fire, in August, 2005, Shawn Brown, Sr. Loss Control Representative, Ottawa office, surveyed and inspected the Residence Domain Boise and made these recommendations:
Although the fire alarm system is tested annually, as the present time, documented fire drills are not held. For improved risk management it is recommended that documented fire drills be held on a minimum of an annual basis with records of these drills maintained.
At the time of this visit, there were no smoke detectors provided in unit #247 A&B. Smoke detectors should be provided in each unit, at each floor level. Once installed the detectors should be tested on a minimum of an annual basis.
Continue reading Loss control saves lives.
Some times, you may want to see any insurance position available in the market.
InsuranceWorks is a good choice:
-Rated in the top 500,000 of all websites by Alexa.com. -Over 400,00 page views and 65,000 unique visits. -Over 650 Insurance Employers Registered across Canada.
Continue reading Insurance job sites.
