Topic
Insurance
2011 the costliest natural catastrophe year on record: Munich Re
January 4, 2012 by Canadian UnderwriterA large number of weather-related events and earthquakes made 2011 the costliest ever year in terms of natural catastrophe losses, reported Munich Re.Global economic losses tallied up to US $380 billion, nearly two-thirds higher than in 2005, the previous record…
Clumsy arsonist and standard transmission novice make MPI’s list of Top 5 frauds in 2011
January 4, 2012 by Canadian UnderwriterA clumsy arsonist and a stick-shift-challenged auto thief appeared at the top of Manitoba Public Insurance (MPI)’s list of Top 5 frauds in 2011.In MPI’s Number 1 fraud, a Winnipeg man agreed to set fire to a vehicle owned by…
Intact completes sale of AXA Life Insurance to SSQ Life Insurance
January 4, 2012 by Canadian UnderwriterIntact Financial Corporation (TSX: IFC) has officially completed the $300 million sale of AXA Life Insurance Inc. to SSQ, Life Insurance Company Inc. AXA Life Insurance Inc. was acquired in September 2011 by IFC as part of the $2.6-billion acquisition…
B.C. man fined for faking theft of vehicle
January 4, 2012 by Canadian UnderwriterA British Columbia man was fined $2,750 after he admitted lying to the police about his truck being stolen, ICBC reported.Kyle Anderson told police in April 2009 that his Toyota Tacoma truck had been stolen while he and a friend…
Winmar announces appointments and new location
January 4, 2012 by Canadian UnderwriterWinmar Franchise Corp. has announced an executive appointment on the West Coast and the opening of a new location on the East Coast.Sean M. Douglas will serve as Winmar’s new regional vice president of British Columbia. Based in Chilliwack, he…
Theft of heating oil from churches in eastern Canada on the rise
January 4, 2012 by Canadian UnderwriterTheft of heating oil from churches is on the increase in eastern Canada, according to Ecclesiastical Insurance’s Halifax office.Most recently, thieves stole heating oil from a church in Atholville, New Brunswick. They damaged the oil tank and siphoned off some…
Winmar Franchise Corp Announces the Appointment of Sean M. Douglas as Regional Vice President (British Columbia)
January 4, 2012 Canadian Underwriter magazineSean brings a diverse range of experience and passion to his new role with Winmar Franchise Corp. Sean’s management, administration, adjuster and broker experience over the past 23 years with National Insurers, Independent Adjusting firms and a National brokerage firm…
Winmar Announces New Opening in Amherst, Nova Scotia
January 4, 2012 Canadian Underwriter magazineLONDON, ON – January 2012 – Winmar Franchise Corp. in London ON is pleased to announce the opening of its newest location Winmar Amherst Nova Scotia. Winmar Amherst is located at 26 Industrial Park Drive, Telephone 902-667-8998. Jonathan MacDonald will…
STRONE Appoints Dave Leith as Vice President of Operations and Jack Doyle as Director of Commercial Losses
January 4, 2012 Strone Restoration ProfessionalsSTRONE is please to announce the appointment of Dave Leith to the role of Vice President of Operations and Jack Doyle to the role of Director of Commercial Drying. Dave’s extensive experience within the business industry as well as his…
IBAC Data Exchange Project moves closer to round-trip data transactions between brokers and insurers
January 3, 2012 by Canadian UnderwriterThe Insurance Brokers Association of Canada (IBAC) is moving onto the third phase of its Data Exchange Project.The intention of IBAC’s Data Exchange Project is to develop concurrent communication between broker and insurer systems within guidelines articulated by IBAC. These…
Economic turmoil more likely than natural catastrophes to spur market hardening: Willis Re
January 3, 2012 by Canadian UnderwriterA sustained market hardening in the global reinsurance market is more likely to be caused by economic turmoil than catastrophe losses, according to Willis Re’s ‘1st View’ report.Last year was the second-worst year for catastrophe losses (insured losses in excess…
Psychological and physical impairments can be combined to determine catastrophic impairment: Ontario Appeal Court
January 3, 2012 by Canadian UnderwriterPsychological impairments can be combined with physical impairments for the purpose of determining whether an injured person meets the 55% threshold for a catastrophic impairment of the whole person, the Ontario Court of Appeal has ruled in Kusnierz v. Economical…