News
Aviva appoints new head for Quebec and Atlantic Canada
October 16, 2012 by Canadian UnderwriterAviva Canada has appointed Martin-Eric Tremblay as senior vice president for Quebec and Atlantic Canada as of Nov. 1. Tremblay has worked in the insurance industry for 30 years and has management and executive experience in marketing, underwriting, operations and…
Most British Columbia residents unprepared for earthquake: Survey
October 15, 2012 by Canadian UnderwriterMore than two-thirds of British Columbia respondents to a survey reported they do not have an emergency plan, while the Insurance Bureau of Canada is the presenting sponsor of an earthquake drill, dubbed ShakeOutBC, scheduled Thursday in the province. In…
Economical Insurance continues demutualization preparation with Mattei sale
October 15, 2012 by Canadian UnderwriterEconomical Insurance of Waterloo, Ont. announced Monday the sale of the principal operating assets of Seattle-based Mattei Insurance Services Inc. The sale, to Alteris Insurance Services Inc., is aligned with Economical’s “ongoing preparations for demutualization,” chief financial officer Philip Mather…
Insurance on Demand web service now available on Economical Insurance site
October 15, 2012 by Canadian UnderwriterEconomical Insurance of Waterloo, Ont. has added the Insurance on Demand web service to its corporate website but the Insurance Brokers Association of Ontario (IBAO) says it is opposed to company portals and company mobile apps. IOD was originally announced…
CARSTAR renews first franchise owners for another 20 years
October 15, 2012 by Canadian UnderwriterAuto repair company CARSTAR has renewed its first ever franchise relationships for another 20 years, the Hamilton, Ont.-based company announced Oct. 12. During the 1980s, both Domenic Lucarelli and Sam Saputo were employees of CARSTAR president and CEO Sam Mercanti,…
Policy Works’ iPad app now available through App Store
October 15, 2012 by Canadian UnderwriterSoftware vendor Policy Works Inc.’s iPad application, Policy Works Producer, is now available for download from Apple’s App Store. The app, released selectively in March, is designed for “commercial lines insurance producers working in the field,” according to the company,…
PartnerRe expects $63 million net charge in third quarter from U.S. drought losses
October 12, 2012 by Canadian UnderwriterGlobal reinsurer PartnerRe Ltd. is expecting a net charge of about $63 million related to losses within its North American agriculture business in the third quarter of this year, mainly due to severe drought in the United States. The net…
Fairfax subsidiary RiverStone completes acquisition of Brit Insurance
October 12, 2012 by Canadian UnderwriterFairfax Financial Holdings Ltd. of Toronto announced Friday its RiverStone runoff subsidiary has completed the acquisition of London-based Brit Insurance Ltd. Last June, Manchester, N.H.-based RiverStone reached an agreement to purchase all outstanding shares of Brit from Brit Group. At…
Crawford & Company Canada partners with U.K. group for contractor repair network
October 12, 2012 by Canadian UnderwriterCrawford and Company Canada has launched its Contractor Connection repair network service for its United Kingdom-based R J Kiln and Co. Ltd. business, effective Nov. 1. Contractor Connection is a managed repair vendor network available to insurers for residential and…
Insurance buyers will see a “mixed market” in 2013, Willis predicts
October 12, 2012 by Canadian UnderwriterInsurance buyers will face a “complex marketplace” in 2013, with property and casualty rates mainly flat or decreasing with a few exceptions, predicts a new report from global insurance broker Willis Group Holdings. This year has been one of recovery…
Global insurance rates rise during third quarter: Marsh
October 12, 2012 by Canadian UnderwriterGlobal casualty insurance rates and property insurance rates for American firms rose during the third quarter of this year while competition for natural catastrophe insurance is intense for mid-sized energy projects, according to a recent report published by Marsh Inc.…
Nova Scotia offers homeowners, businesses financial assistance for uninsurable damage
October 12, 2012 by Canadian UnderwriterBasic recovery assistance will be available to homeowners, business owners and not-for-profit organizations in central Nova Scotia affected by flooding in the wake of heavy rains on Sept. 9 to 11 that accompanied Tropical Storm Leslie. Leslie made landfall in…