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Gary McMillan to retire from Chartis (Canada)

January 19, 2012 by Canadian Underwriter

Gary McMillan is retiring from Chartis (Canada) in February 2012.McMillan has agreed to remain as a non-executive chairman of Chartis’s board of directors.His career with AIG began 36 years ago, in 1976, when the Commerce and Industry Insurance Company of…

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Traffic Injury Research Foundation to further study female drunk drivers

January 19, 2012 by Canadian Underwriter

The Traffic Injury Research Foundation (TIRF) will conduct a follow-up study to its recent report on female drunk drivers.TIRF released a report in December 2011 that found the number of women in the United States arrested for driving while intoxicated…

News InsuranceLegalMergers and Aqcuisitions

Law intended to help enforce graduated licencing programs falls flat: IIHS

January 19, 2012 by Canadian Underwriter

A New Jersey law intended to help police officers enforce graduated licence requirements has failed to lead to better compliance with the restrictions, an Insurance Institute for Highway Safety (IIHS) study has found. Since May 1, 2010, New Jersey has…

News AssociationsInsuranceLegalMergers and Aqcuisitions

Insurance companies turning down increasing number of requests for assessment and treatment of auto injuries: health care providers

January 19, 2012 by Canadian Underwriter

Insurance companies in Ontario are now turning down an increasing percentage of requests for the assessment and treatment of serious (non-minor) injuries sustained by motor vehicle accident victims, according to a survey of Ontario rehabilitation providers.The Alliance of Community Medical…

News InsuranceMergers and Aqcuisitions

Aviva Canada launches corporate social media strategy

January 19, 2012 by Canadian Underwriter

Aviva Canada is launching a corporate social media strategy that includes a presence on Facebook, Twitter, LinkedIn and a blog. The insurer’s Aviva Community Fund garnered 36,000 Facebook ‘likes’ and 3,600 Twitter followers since 2009, when the campaign was launched.…

News Insurance

CARSTAR Canada launches best practices program

January 19, 2012 by Canadian Underwriter

CARSTAR Automotive Canada Inc. is launching a best practices program for its franchisees. The aim of the program Innovation Through Cultivation is to “foster innovation from the ground up and build upon best practices that are currently in operation at…

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Ontario auto insurers receive approval for average rate increase of 1.84%

January 18, 2012 by Canadian Underwriter

Ontario auto insurers received approval for an average rate change of 1.84% in 2011 Q4 when weighted by the market share, reported the Financial Services Commission of Ontario (FSCO). Roughly 45% of the market had rate changes approved. Rate filings…

News InsuranceMergers and Aqcuisitions

MPI sees $52.5-million decrease in third quarter profits

January 18, 2012 by Canadian Underwriter

Manitoba Public Insurance (MPI) reported its net income (after surplus distribution) dropped by $52.5 million for the first three quarters of 2011.MPI reported a profit of $89.4 million during the first three quarters of 2010, which dropped to $36.9 million…

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Auto body mechanic with no written records of employment deemed to be “employed”: Ontario arbitrator

January 18, 2012 by Canadian Underwriter

An auto body mechanic who had a verbal agreement with his employer, no paycheque or any other written record of his employment – and who completed only two weeks of work before he was seriously injured in an auto accident…

News Earnings / RatingsInsurance

Insurers can still grow despite a tough economy: Deloitte LLP report

January 18, 2012 by Canadian Underwriter

Insurance companies need to break out of a classic, “chicken-and-egg” scenario to generate growth in a tough economy, a Deloitte LLP report says.The title of the report states its central thesis: 2012 Global Insurance Outlook: Generating growth in a challenging…

News InsuranceLegalMergers and Aqcuisitions

Majority of claims made against brokers relates to new business

January 17, 2012 by Canadian Underwriter

More than half of claims made against insurance brokers between 2007 and 2010 related to new business, prompting a warning shot across the bow to the industry to focus on the fundamentals even as pressure is high to write new…

News Insurance

Cruise ship disaster could lead to insured losses of more than EUR400 million

January 17, 2012 by Canadian Underwriter

The grounding of a luxury cruise liner off the coast of Italy could result in insured losses of up to EUR400 million (about Cdn$517 million), according to Guy Carpenter. The Costa Concordia ran aground off the coast of Isola del…