Topic
Insurance
Apparent lack of concern over possibility of directors and officers being sued disconcerting: Chubb survey
June 18, 2012 by Canadian UnderwriterPast lawsuits and increased merger and acquisition (M&A) activity have done little to curb the apparent, “disconcerting” lack of concern among directors and officers about the possibility of being sued. Public company executives may be in for surprise lawsuits if…
IBAC announces Elite Force-Best Practices Producer Academy will be offered in September
June 18, 2012 by Canadian UnderwriterInsurance Brokers Association of Canada (IBAC) and its member associations have announced that the Elite Force-Best Practices Producer Academy will be offered in Toronto starting this September. Now in its fourth year, the sales training program for producers is an…
RiverStone reaches agreement to purchase outstanding shares of Brit Insurance
June 18, 2012 by Canadian UnderwriterRiverStone, a runoff subsidiary of Fairfax Financial Holdings Limited, has reached an agreement with Brit Group to purchase all outstanding shares of Brit Insurance Limited (BIL). RiverStone will purchase BIL at a discount to its book value — which was…
MPI holds the line on auto insurance rates
June 18, 2012 by Canadian UnderwriterManitoba Public Insurance (MPI) requested no overall insurance rate increase for 2013-14 in its general rate application filed with the Public Utilities Board (PUB) on June 14. “Today’s rate application confirms the strength of the public auto insurance system,” MPI…
Canadian Hurricane Centre improves forecasting of storm tracking, aims to increase accuracy of predicting storm intensity
June 18, 2012 by Canadian UnderwriterThe Canadian Hurricane Centre (CHC) has an improved handle on tracking hurricanes, and is now turning its eye towards decreasing errors in forecasting storm intensity, particularly for rapidly intensifying or weakening storms. Error rates for tracking rapidly developing storms (those…
Towers Watson study shows more evidence of commercial rate hardening
June 15, 2012 by Canadian UnderwriterCommercial insurance pricing in the United States increased by an average of 5% in 2012 Q1 over the same period last year, noted Tower Watson consulting. This represented the fifth consecutive quarter that prices rose for all standard commercial lines,…
Global brokerages benefit from favourable conditions: Moody’s
June 15, 2012 by Canadian UnderwriterRising insurance premiums and a focus on specialty risk advisory services will spur growth for the world’s largest insurance brokerages, according to a recent analysis by Moody’s Investors Services. The outlook for the global insurance brokerage sector “is stable, reflecting…
B.C. Labour Relations Board issues interim order allowing ICBC employees to take job action
June 15, 2012 by Canadian UnderwriterThe union representing Insurance Corporation of B.C. (ICBC) employees has welcomed a provincial order to restore, at least in part, its ability to take job action after the ICBC filed an essential services application on Apr. 19. The ability to…
Economical launches new brand name at AGM, re-iterates it does not prefer one form of demutualization over another
June 15, 2012 by Canadian UnderwriterEconomical Insurance launched a refreshed brand at its annual general meeting on June 15, featuring an uncomplicated, cleaner, three-dot logo and a new tagline — “good to know.” “We’re good to know for an individual, family or business seeking financial…
CARSTAR Collision and Glass Centres Achieve Their $2 Million Fundraising Milestone
June 15, 2012 CARSTAR Automotive CanadaCARSTAR’s Soaps It Up National Car Wash Fundraiser raised over $100,000 for Cystic Fibrosis Canada surpassing its goal of $2 million in funds donated. Hamilton, ON – June 15, 2012 – CARSTAR Collision & Glass Centres across North America participated…
Alister Campbell to become CEO of The Guarantee Company of North America in early September
June 15, 2012 by Canadian UnderwriterAlister Campbell has been appointed CEO of The Guarantee Company of North America, effective early September. Campbell made the news public on his LinkedIn page. Most recently, he was president and CEO of Zurich Insurance’s Canadian operations. “Happy to announce…
Insurers could feel significant impact from Ontario court’s new privacy tort: legal paper
June 14, 2012 by Canadian UnderwriterThe Ontario Court of Appeal’s January 2012 decision in Jones v. Tsige, which recognized the tort of “intrusion upon seclusion” as a cause of action in Ontario, may have significant implications for policyholders and insurers, a paper from Blaney McMurtry…