Segment
P&C Companies
Willis targets small global companies
April 3, 2007 by Canadian UnderwriterWillis Group Holdings Limited (NYSE: WSH) announced that it is increasing its effort to grow its business among small companies around the world. As a component of Shaping Our Future, a series of strategic initiatives, Willis is targeting this segment…
Bank Act review officially over, IBAC thanks Parliament (April 02, 2007)
April 2, 2007 by Canadian UnderwriterIts official: The 2005-07 Bank Act review has finally been laid to rest.The Insurance Brokers Association of Canada (IBAC) on Apr. 2 applauded the Parliament of Canada for passing bill C-37 in late March.As passed, the bill does not give…
IBC urges Ontario insurers to prepare for HCAI
April 2, 2007 by Canadian UnderwriterInsurers should count on an average of roughly eight weeks lead time to prepare for enrolment in Ontarios new Health Claims for Auto Insurance [HCAI] system, an electronic method for collecting and transmitting auto insurance health claims data. All 180…
Canadian cities to face more heat waves, report finds
April 2, 2007 by Canadian UnderwriterThe Intergovernmental Panel on Climate Change (IPCC) is preparing to launch its second report this year, which found that Canada can expect to see major issues around heat waves and water shortages, reports the Toronto Star. The Star obtained a…
What’s New: In Brief (April 02, 2007)
April 2, 2007 by Canadian UnderwriterKingsway Financial Services Inc. (TSX:KFS, NYSE: KFS) announced the completion of the acquisition of Mendota Insurance Company, a wholly owned subsidiary of The Travelers Company, Inc.. The transaction includes Mendotas wholly owned subsidiaries, Mendakota Insurance Company and Mendota Insurance Agency,…
IBC applauds changes to Nova Scotia’s graduated licensing program
March 30, 2007 by Canadian UnderwriterInsurance Bureau of Canada is applauding the Nova Scotia government for making important changes to the province’s graduated driver licensing (GDL) program.“These changes will significantly make Nova Scotia’s roads safer,” said Don Forgeron, vice-president, Atlantic, Insurance Bureau of Canada. “They…
What’s New: In Brief (March 30, 2007)
March 30, 2007 by Canadian UnderwriterIn response to growing concerns about the threat of identity theft, The Co-operators announced it has extended identity theft coverage to clients with home or farm insurance. The new coverage reimburses clients for up to Cdn$10,000 of costs associated with…
Aon predicts flat reinsurance rates or 10% decreases in Canada
March 30, 2007 by Canadian UnderwriterReinsurance rates on line for personal lines, standard commercial lines and complex commercial lines in Canada are likely to be flat or up to 10% lower during mid-year renewals of property catastrophe reinsurance programs, Aon Re Global predicts.Additionally, Aon Re…
Fairfax to acquire additional Cunningham Lindsey shares
March 30, 2007 by Canadian UnderwriterFairfax Financial Holdings Limited (TSX and NYSE: FFH) announced that it has entered into an agreement to purchase 1,031,090 subordinate voting shares of Cunningham Lindsey Group Inc. from a group of third party investors.The Cunningham Lindsey shares will be acquired…
New Bermuda market, industry reputation and reserves key issues in 2007
March 29, 2007 by Canadian UnderwriterA new Bermuda market, reputation challenges to the industry and reserve deficiencies are among 10 major changes that Mike Wills, president of Catlins Canadian operations, said hes witnessed in the insurance industry.Wills was speaking at the Ontario Risk and Insurance…
Plaintiff lawyers pushing the damages envelope: ORIMS seminar
March 29, 2007 by Canadian UnderwriterPlaintiff lawyers are increasingly trying to convince the courts of specific damages, which used to be part of general damages, in a bid to get damage amounts above and beyond the cap on non-pecuniary damages, people attending the Ontario Risk…
ACE Canada appoints Terri Mitchell as vice president, COO
March 29, 2007 by Canadian UnderwriterACE Canada, the Canadian based operating division of the ACE Group of Companies, has appointed Terri Mitchell as executive vice president and chief operations officer of ACE Canada’s Life, Accident and Health Group.Mitchell joined ACE Canada in 2004 as vice…