Topic
Insurance
New Brunswick mulls a ban on hand-held cell phones while driving
January 5, 2010 by Canadian UnderwriterNew 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…
What’s New: In Brief (January 05, 2010)
January 5, 2010 by Canadian UnderwriterTrillium 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…
Increased capital for insurers and reinsurers: Aon Benfield
January 5, 2010 by Canadian UnderwriterInsurer 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…
Ontario Teachers’ Pension Plan agrees to buy AIG’s Canadian mortgage insurance business
January 5, 2010 by Canadian UnderwriterOntario 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…
Forensic Investigations Canada acquires Oliver, Yaskiw & Associates
January 4, 2010 by Canadian UnderwriterForensic 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…
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…
U.S. reinsurance rates decline at Jan. 1, 2010 renewal: Guy Carpenter
January 4, 2010 by Canadian UnderwriterReinsurance 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…
Top 5 Frauds for 2009: MPI
January 4, 2010 by Canadian UnderwriterManitoba 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…
Canadas Top Investigative Service Providers Team Up for Powerful Partnership: FIC Acquires Winnipeg Powerhouse Oliver, Yaskiw & Associates
January 4, 2010 SCM Insurance ServicesEdmonton 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…
Happy Holidays from the staff of Canadian Underwriter! (December 24, 2009)
December 24, 2009 by Canadian UnderwriterThe staff of Canadian Underwriter would like to wish everyone a happy, healthy and safe holiday season. Best wishes in the New Year! This is the last installment of Canadian Underwriter‘s Daily News for 2009. We will resume with our…
Supreme Court creates new defence for defamation: will it change a company’s exposure to reputational risk?
December 23, 2009 by Canadian UnderwriterCorporate risk managers may wish to review their reputational risk in light of a new defence that protects publishers from defamation so long as their communications are found to be responsible and relate to matters of public interest.“Freewheeling debate on…
IIHS rates children’s booster seats, 11 fail to pass muster
December 23, 2009 by Canadian UnderwriterOf the 60 booster seat models rated by the Insurance Institute for Highway Safety (IIHS), 11 failed to gain a recommendation.Booster seats are for children who have outgrown a child car seat but are too small for a regular seat…