Topic
Insurance
Canadian securities regulators look for improved disclosure of executive compensation
November 22, 2010 by Canadian UnderwriterCanadian securities regulators are seeking public comment on proposed rule changes that would enhance the quality of disclosure of executive compensation.“The proposals clarify existing requirements and introduce new substantive requirements to enhance the quality of information disclosed by public companies…
Swiss Re appoints new CFO to Canadian operations
November 22, 2010 by Canadian UnderwriterSwiss Re has appointed Jonathan Turner as chief financial officer of its Canadian operations, effective Nov. 22, 2010. Turner joins Swiss Re from Ernst & Young, where he specialized in both the property and casualty and life and health insurance…
CAA Insurance to offer accident forgiveness endorsement in Nova Scotia
November 22, 2010 by Canadian UnderwriterCAA Insurance has received approval to offer an accident forgiveness endorsement in Nova Scotia.The ‘Forgive and Forget’ endorsement will provide clients with forgiveness for the first at-fault accident, meaning the incident will not affect the driver’s rating. To be eligible,…
B.C. Insurance Council places restrictions on SSEI Insurance Agency, suspends license of its sole officer and director
November 22, 2010 by Canadian UnderwriterThe Insurance Council of British Columbia has placed conditions on the license of SSEI Insurance Agency and suspended the license of its sole officer and director, Nicholas Di Perno, pending an investigation of misconduct allegedly occurring at the sports and…
Policy Works Inc. and LUnion Canadienne to Exchange Commercial Lines Data Electronically with Straight-Through Processing
November 22, 2010 Canadian Underwriter magazinePolicy Works is pleased to announce it has entered into an agreement with L’Union Canadienne to deliver a commercial lines data exchange solution integrating Policy Works’ Commercial Management System (CMS) and L’Union Canadienne’s underwriting system. This solution offers pure no-touch…
Alberta insurers report improvement in Q3 results
November 19, 2010 by Canadian UnderwriterAlberta-incorporated property and casualty insurers continued to see improved results during the first three quarters of 2010, with consolidated net income increasing $10.25 million to $42.9 million over the same period of 2009.The figures reflect results reported by: Alberta Motor…
Immobilizer installation grace period reduced in Winnipeg
November 19, 2010 by Canadian UnderwriterThe grace period to install an immobilizer on vehicles considered to be most-at-risk of theft in Winnipeg has been reduced to 60 days from 90 days as of Dec. 1. The period will be shortened a further 30 days on…
Saskatchewan implements one-part licence
November 19, 2010 by Canadian UnderwriterSaskatchewan drivers will soon be receiving a new one-part licence with enhanced security elements. Drivers currently hold a two-part licence – a photo ID card and a paper certificate -which must be renewed annually. The new licence includes images and…
Munters MCS rebrands itself as Polygon
November 19, 2010 by Canadian UnderwriterMunters’ Moisture Control Services (MCS) will now be known as Polygon. The MCS division separated from Munsters Group at the beginning of October, establishing itself as an independent company. The company had been operating under different brands across the world.…
QBE to purchase Renaissance Re’s US insurance operations
November 19, 2010 by Canadian UnderwriterQBE Insurance Group has acquired the US insurance operations of Renaissance Re for $275 million.This includes a US crop and small specialist program insurance business. The acquisition – subject to regulatory approvals – is expected to be completed in March…
A.M. Best Upgrades Zurich Insurance Company Ltd.
November 19, 2010 by Canadian UnderwriterA.M. Best has upgraded Zurich Insurance Company Limited’s financial strength rating (FSR) to ‘A+’ (superior) from ‘A’ (excellent). The insurers’ issuer credit rating was upgraded from “aa-” to “a+.”The rating upgrade applies to the insurer’s Canadian branch, A.M. Best confirmed.…
Ontario arbitrator orders claimant to produce insurer with two years’ worth of medical, prescription records in non-earner benefits case
November 18, 2010 by Canadian UnderwriterAn Ontario arbitrator has ordered a claimant to provide his insurer, Aviva Canada, with two years’ worth of medical and prescription records in a non-earner benefits case.This is one year beyond the standard practice of requiring production of only one…