Topic
Insurance
Potential pitfalls when insureds appoint, pay for Marine Warranty Surveyors: legal analysis
August 8, 2012 by Canadian UnderwriterThere are some pitfalls to be avoided in drafting marine warranty survey clauses and matters can be complicated by the fact that the marine warranty surveyor (MWS), despite being a requirement of the marine insurance underwriter, is often chosen, employed…
Alberta police issue more than 5,000 tickets over August long weekend
August 8, 2012 by Canadian UnderwriterAlberta law enforcement officers were out in full force over the August long weekend, issuing a total of 5,140 tickets between Aug. 3 and Aug 6. RCMP officers, provincial traffic sheriffs, conservation officers, fish and wildlife officers and commercial vehicle…
Marsh sees revenues increase in 2012 Q2
August 8, 2012 by Canadian UnderwriterMarsh & McLennan Companies, Inc. (NYSE: MMC) saw revenue increase in 2012 Q2 and in the first half of 2012. Consolidated revenue for the quarter ended June 30 was approximately $3 billion, up 3% from $2.9 billion in 2011 Q2,…
Western Financial and Falkins Insurance Group begin co-branding arrangement
August 8, 2012 by Canadian UnderwriterWestern Financial Group and Falkins Insurance Group are taking on a more visible partnership presence in the Kootenay Region of British Columbia. To support the growing presence of the Western brand in the region, Falkins, a 115-year-old insurance brokerage based…
Hamilton to identify “hot spots” for overland flooding
August 7, 2012 by Canadian UnderwriterEfforts are under way to assign coordinates for about 900 overland flooding “hot spots” in Hamilton, Ontario where water traditionally backs up or overflows after big storms. Digitally mapping the hot spots – mostly storm water inlets and outlets that…
Totten Group announces changes to its executive leadership
August 7, 2012 by Canadian UnderwriterHub International has announced that H. Ross Totten, who has served as president and CEO of Totten Insurance Group Inc., will assume the role of chairman and chief sales officer of the Totten Group, effective Sept. 1, 2012. Heather Masterson…
York police warn about home improvement scams
August 7, 2012 by Canadian UnderwriterPolice in Ontario’s York Region are warning about home improvement scams, cautioning residents of the area to determine in advance of a project if their contractors are licensed, properly insured and meet their specific needs. The York Regional Police (YRP)…
OSFI updates Corporate Governance Guidelines with proposals around risk management
August 7, 2012 by Canadian UnderwriterCanada’s solvency regulator, the Office of the Superintendent of Financial Institutions (OSFI), is seeking comment on its Draft Revisions to the Corporate Governance Guideline, which, among other things, emphasizes the commitment of the organization to risk management principles. The draft…
More than 600 claims received related to Manitoba storm
August 3, 2012 by Canadian UnderwriterHigh winds and heavy rain on July 29 have prompted more than 600 claims to be filed with Manitoba Public Insurance (MPI) to date. Figures from MPI show that it had received 615 related claims as of August 3. Of…
AIG reports net income of $2.3 billion in 2012 Q2
August 3, 2012 by Canadian UnderwriterAmerican International Group, Inc. (NYSE: AIG) reports net income of $2.3 billion attributable to AIG and after-tax operating income of $1.9 billion in 2012 Q2. Compare that to $1.8 billion and $1.2 billion, respectively, for the second quarter of 2011,…
Preparation, patience and care to help keep roads safe on the long weekend
August 3, 2012 by Canadian UnderwriterLong weekends can exact a heavy toll on roadways, necessitating the need for people to plan ahead and drive safely, cautions the Insurance Corporation of British Columbia. An average of five people are killed and 533 injured in 1,935 crashes…
Allianz’s second quarter net income grows more than 20%
August 3, 2012 by Canadian UnderwriterAllianz recorded net income of 1.3 billion euros in 2012 Q2, representing a 23.2% increase over the same quarter in 2011, which had been affected by write-downs of Greek sovereign debt. The conglomerate followed up its strong start into 2012…