Segment
Risk Management
B.C. risk manager Glen Frederick receives the 2011 Donald M. Stuart Memorial Award
September 19, 2011 by Canadian UnderwriterGlen Frederick, director of client services for the Government of British Columbia, received the Donald M. Stuart Memorial Award during the 2011 Risk and Insurance Management Society (RIMS) Canada Annual Conference in Ottawa on Sept. 19. The Donald M. Stuart…
Ontario courts expand interpretation of “ordinary drivers”: RIMS panelist
September 19, 2011 by Canadian UnderwriterThe interpretation of ‘ordinary driver’ in Ontario’s courts has expanded to include those drivers who “sometimes make mistakes,” and has thus increased municipalities’ exposure to liability for not keeping safe roads.Steven Stieber, a managing partner at Stieber Burlach LLP, spoke…
U.S. commercial lines see price increases across the board for the first time in eight years
September 16, 2011 by Canadian UnderwriterU.S. commercial insurance prices increased in aggregate by nearly 1.5% during 2011 Q2, the first time in eight years (since 2003 Q4) that all standard commercial lines showed an uptick in pricing, according to a study by Towers Watson.Towers Watson…
AIR Worldwide lowers Hurricane Irene loss estimate for Bahamas
September 16, 2011 by Canadian UnderwriterAIR Worldwide has revised its industry insured loss estimates for Hurricane Irene’s impact in the Bahamas to between US $200 million and $400 million (previously $300 million to $700 million). The revision for the Bahamas is based on a refinement…
Chesterfield Canada renews sponsorship of junior hockey player
September 16, 2011 by Canadian UnderwriterChesterfield Canada Inc. has renewed its sponsorship of Dalton Smith, a hockey player with the Ottawa 67’s. Smith will continue into the 2011-12 season, following his signing by the Columbus Blue Jackets. The 19-year-old has signed a three-year entry-level contract.…
Oil Insurance Limited (OIL) increases non-windstorm, per occurrence limit to $300 million
September 16, 2011 by Canadian UnderwriterOil Insurance Limited (OIL) is increasing its non- windstorm, per-occurrence limit from $250 million to $300 million in 2012.OIL held a special general meeting on Sept. 13, at which time shareholders approved various changes to the basic property, well control…
The Co-operators partners with David Suzuki Foundation to create youth internships
September 15, 2011 by Canadian UnderwriterThe Co-operators has inked a four-year partnership with David Suzuki Foundation to engage post-secondary students in environmental issues.The agreement is an expansion of The Co-operators’ IMPACT! Youth Program for Sustainability Leadership. Twelve internship positions with the communications team at the…
Rochon Engineering co-CEOs renew long-term contract with Granite Global Solutions
September 15, 2011 by Canadian UnderwriterGranite Global Solutions and Rochon Engineering announced the renewal of a long-term contract with Mike Rochon and Vince Rochon, founders and co-CEOs of Rochon, to continue to lead the division.Rochon Engineering announced on Sept. 13 that Mike and Vince Rochon…
Fitness club not automatically liable for injury sustained in a rush for dumbbells
September 15, 2011 by Canadian UnderwriterA fitness club with limited dumbbells for exercising was not responsible for a patron fracturing her wrist while participating in a “frenzy” to grab the available weights, the Ontario Superior Court ruled in an April 2011 Occupiers’ Liability Act case.Dutton…
Ontario bears brunt of severe weather in August
September 14, 2011 by Canadian UnderwriterOntario bore the brunt of severe weather in August, with a tornado tally of 13 – more than the average for the whole of tornado season, according to Environment Canada’s Ontario Weather Review.Ontario normally averages 12 tornadoes during a season…
KPMG acquires Berris Mangan
September 14, 2011 by Canadian UnderwriterKPMG has acquired Vancouver-based accounting firm Berris Mangan. Berris Mangan is a full-service accounting firm that specializes in serving the insurance industry, as well as the service, wholesale and manufacturing industries. “As part of our national strategy to grow through…
U.S. private equity firm buys up Kanetix Ltd.
September 14, 2011 by Canadian UnderwriterKanetix Ltd., a Canadian online insurance marketplace, has been acquired by Monitor Clipper Partners (MCP), a Cambridge, Massachusetts-based private equity firm. Kanetix has also named Yousry Bissada as president and CEO, effective immediately. Its co-founders, George Small and Gregory Ellis,…