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Increased precipitation in Fredericton may lead to increased homeowners’ rates: CBC report

January 6, 2010 by Canadian Underwriter

Homeowners in Fredericton, New Brunswick will likely see an increase in their insurances rates as a result of the increasing number of flood claims reported, according to the CBC. “Recently, most insurance companies have seen an increase in the kind

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Colorado State predicts above-average activity in 2010 hurricane season

January 6, 2010 by Canadian Underwriter

The 2010 Atlantic hurricane season will likely bring above average activity, predicts Colorado State University’s Department of Atmospheric Science.In their six- to 11-month, extended-range forecast, Philip J. Klotzbach and William M. Gray estimate a 64% chance of at least one

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SPECS Limited Opens New Branch Office in Regina, SK

January 6, 2010 by Canadian Underwriter

Edmonton, AB January 6, 2010 SPECS Limited, the countrys leading provider of independent property damage valuations and cost control services has opened a new office in Regina, SK. The strategic location and the placement of Marc Poissant, Office Manager, whose

News InsuranceLegalMergers and Aqcuisitions

New Brunswick mulls a ban on hand-held cell phones while driving

January 5, 2010 by Canadian Underwriter

New Brunswick, one of only two provinces (in addition to Alberta) to allow the use of handheld devices while driving, is considering a ban on such use, cbc.ca reports.New Brunswick Public Safety Minister John Foran told cbc.ca that while the

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (January 05, 2010)

January 5, 2010 by Canadian Underwriter

Trillium Management Services Inc. has completed the acquisition of Geneva Insurance Company Inc. Geneva is based in Indianapolis, and was formed in 1999 by its sole shareholder Ronald J. Glanzman. Geneva provides personal auto insurance with a concentration on non-standard

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Increased capital for insurers and reinsurers: Aon Benfield

January 5, 2010 by Canadian Underwriter

Insurer and reinsurer capital increased dramatically from the lows experienced in March 2009, according to Aon Benfield’s annual Reinsurance Market Outlook report. The Jan. 1, 2010 catastrophe reinsurance renewals were focused on rate decreases in the market’s peak zones of

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Ontario Teachers’ Pension Plan agrees to buy AIG’s Canadian mortgage insurance business

January 5, 2010 by Canadian Underwriter

Ontario Teachers’ Pension Plan is leading a private investor group that has agreed to acquire American International Group Inc. (AIG)’s Canadian mortgage insurance business, AIG United Guaranty Mortgage Insurance Company Canada. Terms of the transaction were not disclosed. The transaction

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Forensic Investigations Canada acquires Oliver, Yaskiw & Associates

January 4, 2010 by Canadian Underwriter

Forensic Investigations Canada (FIC), a division of SCM Insurance Services, has acquired the Winnipeg-based Oliver, Yaskiw & Associates Inc. (OYA).OYA specializes in investigation and security consulting and services in Manitoba, Saskatchewan and Northwest Ontario. It was also the first firm

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Primary insurers issued majority of cat bonds in ’09: BestWeek

January 4, 2010 by Canadian Underwriter

$3.4 billion of risk capital was issued through 18 cat bonds in 2009, marking a 25% increase in risk capital over 2008, and making 2009 the busiest year for new cat bonds since 2007.It also made 2009 the third-largest ever

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U.S. reinsurance rates decline at Jan. 1, 2010 renewal: Guy Carpenter

January 4, 2010 by Canadian Underwriter

Reinsurance rates across most lines of property catastrophe business declined at the Jan. 1, 2010 renewal, according to a briefing released by Guy Carpenter & Company LLC.“A combination of factors — including the rally in global financial markets, relatively low

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Top 5 Frauds for 2009: MPI

January 4, 2010 by Canadian Underwriter

Manitoba Public Insurance (MPI)’s special investigations unit (SIU) has recovered nearly $30 million over the last three years in undeserved benefits and denied fraudulent claims. Roughly 3,000 suspicious claims were reviewed in 2009. Five of those made MPI’s 2009 list

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Canadas Top Investigative Service Providers Team Up for Powerful Partnership: FIC Acquires Winnipeg Powerhouse Oliver, Yaskiw & Associates

January 4, 2010 SCM Insurance Services

Edmonton The nations leading investigative services provider, Forensic Investigations Canada (FIC), announced today its acquisition of Winnipeg investigation and security consulting experts, Oliver, Yaskiw & Associates Inc. (OYA). This strategic purchase provides clients with unprecedented depth, complete national coverage, and