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Insurer must pay special award for failing to consider the “totality” of medical evidence: FSCO arbitrator

November 14, 2011 by Canadian Underwriter

An Ontario arbitrator has upheld a special award against an insurer in a case involving termination of Income Replacement Benefits (IRB) on the basis of conflicting medical information.The Economical Mutual Insurance Company appealed an arbitrator’s finding of a special award…

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York Fire re-brands itself as Unica Insurance Incorporated

November 14, 2011 by Canadian Underwriter

York Fire & Casualty Insurance Company has become Unica Insurance Incorporated and will operate under the Unica brand name, the company announced on Nov. 14.The re-branding of York represents a milestone in the reinvention of the company since its acquisition…

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IBAO announces 2011 Awards of Excellence

November 14, 2011 by Canadian Underwriter

The Insurance Brokers Association of Ontario (IBAO) has presented its 2011 Awards of Excellence recognizing prominent insurance brokers and brokerages throughout Ontario. The awards were presented at the IBAO’s 91st Annual Convention in Toronto.The winners of the 2011 IBAO Awards…

News Climate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Earthquakes have shaken up New Zealand’s insurance market: A.M. Best

November 14, 2011 by Canadian Underwriter

New Zealand’s property and casualty insurance market is in a state of transformation as it grapples with prolonged earthquake activity and associated regulatory developments, a new special report from A.M. Best finds.The report, New Zealand’s Insurance Market on Cusp of…

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FSCO to issue new guidelines intended to protect insurers from getting “papered” by health care treatment plans

November 11, 2011 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) is releasing new guidelines on Dec. 1, 2011 for Health Claims for Auto Insurance (HCAI) intended to prevent insurers from getting inundated by documentation from health care providers. The revised guidelines are intended…

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“Misnamed” defendant on product liability action can be corrected after limitations period expires: Ontario Court

November 11, 2011 by Canadian Underwriter

The Ontario Superior Court of Justice has allowed a plaintiff to add a defendant to a product liability action despite the expiry of a two-year limitation period, because doing so met the test that allows “the correction of a misnaming…

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The Co-Operators launches sustainability toolkit

November 11, 2011 by Canadian Underwriter

The Co-operators has launched a toolkit offering guidance for leading more environmentally sustainable lives. Sustainability at Home: Decision making help for your everyday choices was released in partnership with The Natural Step Canada.The toolkit presents Canadians with practical tips and…

News InsuranceMergers and Aqcuisitions

EGI Financial Holdings cites improvements in Ontario auto for better financial results in 2011 Q3

November 11, 2011 by Canadian Underwriter

EGI Financial Holdings Inc. reported a $2.3-million profit in 2011 Q3, up $2.3 million over 2010 Q3.For the first three quarters of 2011, EGI recorded a $10-million improvement in underwriting results over the same period in 2010.The company’s combined operating…

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RSA Canada CEO Rowan Saunders appointed to RSA’s Global Group executive team

November 11, 2011 by Canadian Underwriter

RSA has announced changes to its operating structure that will see RSA Canada president and CEO Rowan Saunders appointed to its Global Group executive team.Effective Jan.1, 2012, RSA Group will be organized into four regions: UK & Western Europe, Scandinavia,…

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U.S. securities regulator files record number of enforcement actions in 2011

November 11, 2011 by Canadian Underwriter

The U.S. Securities and Exchange Commission (SEC) filed a record 735 enforcement actions in the fiscal year that ended Sept. 30, the agency reported in a release.The number includes many cases involving highly complex products, transactions and market practices, including…

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Munich Re reports tumbling Q3 profits

November 10, 2011 by Canadian Underwriter

Munich Re posted a profit of roughly $110 million in the first nine months of 2011, compared to a profit of $2.7 billion during the same period of 2010. The group posted a profit of $401 million in 2011 Q3,…

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DAS Canada offers free legal advice to small business owners in the Maritimes

November 10, 2011 by Canadian Underwriter

DAS Canada is offering small businesses in Atlantic Canada a week of free access to its legal service hotline and the opportunity to win a free year of legal insurance coverage.During the week of Nov. 14, small business owners in…