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iv3 Solutions teams up with Altus Group to bring residential replacement cost solution to Canadian market

January 18, 2010 by Canadian Underwriter

iv3 Solutions has teamed up with Altus Group (TSX: AIF.UN) to bring a residential replacement cost toolset to the Canadian marketplace in early 2010.iv3 Solutions has also launched residential inspection management services and loss control solutions to the North American

News Insurance

Feds plan to address insurance promotion on bank Web sites “in the near future”: Flaherty

January 18, 2010 by Canadian Underwriter

Bankers and insurance brokers alike can expect to see a formal government proposal “in the near future that addresses insurance promotion on bank Web sites, according to Finance Minister Jim Flaherty.Flaherty raised the issue briefly in a Jan. 15 speech

News Insurance

What’s New: In Brief (January 18, 2010)

January 18, 2010 by Canadian Underwriter

Tickets for the 14th annual Women in Insurance Cancer Crusade (WICC) Gala Dinner are now on sale. The event is on Apr. 14, 2010 and will be held at The Westin Harbour Castle Conference Centre – Metropolitan Grand Ballroom in

News Insurance

Canadian P&C insurers, claims companies donate money to Red Cross for relief efforts in Haiti

January 15, 2010 by Canadian Underwriter

The Co-operators, Intact Financial Corporation, AXA and Granite Global Solutions have each made individual pledges and/or donations totaling up to $240,000 to the Canadian Red Cross in support of relief efforts in Haiti. The Co-operators has pledged to provide up

News InsuranceLegalMergers and Aqcuisitions

Ontario auto reforms need to clarify an ‘incurred cost’: defence lawyer

January 15, 2010 by Canadian Underwriter

There is a need to provide a clear definition for the word “incurred” under Ontario’s Statutory Accident Benefits Scheme (SABS), said Philippa Samworth, a partner at Dutton Brock LLP.Typically, “incurred” is interpreted to mean that a person has paid for

insPRESS Insurance

Granite Global Solutions Steps up with Donation for Haiti

January 15, 2010 Canadian Underwriter magazine

Toronto, January 15, 2010: A donation of $20,000 was made to the Red Cross today by Granite Global Solutions for the victims of the Haiti earthquake. The partner companies McLarens Canada, Sibley & Associates, Rochon Engineering, King-Reed Investigation Services and

News InsuranceLegalMergers and Aqcuisitions

Proposed changes to Ontario medical and rehab benefits potentially “problematic” for brokers

January 15, 2010 by Canadian Underwriter

The proposal to decrease Ontario’s medical and rehab benefit from $100,000 to $50,000, including an option to purchase higher limits, will place a huge onus on brokers and expose them to an increased risk of litigation, said Philippa Samworth, a

News Climate ChangeInsurance

Environment Canada’s Top 10 weather stories in 2009 include storms causing $637 million in insured damages

January 15, 2010 by Canadian Underwriter

Three weather storms that caused insurers a total of $637 million cracked Environment Canada’s list of Top Ten Weather Stories for 2009.Tornadoes in Ontario placed third on Environment Canada’s list, which was based on an assessment of the severity of

News Insurance

More companies are employing mature ERM practices: Aon

January 14, 2010 by Canadian Underwriter

More companies are employing mature enterprise risk management practices to enhance organizational value and resiliency, according to the findings of Aon’s 2010 Global Enterprise Risk Management Survey. “Organizations in the more mature stages of ERM report they are able to

News Earnings / RatingsInsurance

What’s New: In Brief (January 14, 2010)

January 14, 2010 by Canadian Underwriter

As of the end of October 2009, Facility Association (FA) has paid and incurred more than $11.5 million in statutory accident benefit claims connected to insolvent insurer Markham General Insurance Company.Markham General was ordered wound-up under the provisions of the

News Insurance

Global IT spending on the rise: Celent

January 14, 2010 by Canadian Underwriter

Financial service institutions’ spending on global information technology is expected to reach US$357.4 billion in 2010, according to a new Celent report.This is an increase of 2.9% over 2009, and substantially higher than the 2.5% decline in growth experienced last

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (January 14, 2010)

January 14, 2010 by Canadian Underwriter

Kenneth V. Lavigne has been appointed senior vice president and manager of FM Global’s Canada division.Lavigne replaces Perry Brazeau, who retired at the end of 2009 after 33 years with the company. Lavigne joined FM Global in 1980 as a