Topic
Insurance
IMAX decision in Ontario lowers threshold for proceeding with a civil action for secondary market liability
December 21, 2009 by Canadian UnderwriterOntario’s Superior Court in IMAX has established a “relatively low” threshold to be met by plaintiffs seeking leave to proceed with a civil action for secondary market liability, according to Ogilvy Renault.The decision provides the first judicial interpretation of leave…
McLarens Canada announces executive appointments
December 18, 2009 by Canadian UnderwriterMcLarens Canada has announced two executive level appointments. Dennis N. Schembri has been promoted to executive vice president, Eastern Canada of McLarens Canada and Donald N. Hull has been promoted to vice president, Ontario Region of McLarens Canada.Holding 26 years…
McLarens Canada Appoints Dennis N. Schembri CIP, CFEI to Executive Vice President, Eastern Canada
December 18, 2009 McLarens CanadaMichael Holden, President and CEO, McLarens Canada, is pleased to announce that Dennis N. Schembri CIP, CFEI has been promoted to Executive Vice President, Eastern Canada. In his 29-year career, Mr. Schembri worked as a branch manager with a major…
McLarens Canada Appoints Donald N. Hull to Vice President, Ontario Region
December 18, 2009 McLarens CanadaMichael Holden, President and CEO, Mclarens Canada, is pleased to announce that Donald N. Hull has been promoted to Vice President, Ontario Region. In a 36-year career, Mr. Hull has been a Director and the Senior Executive for an international…
Aon report shows 2.7% decrease in D&O liability pricing in 2009 Q3
December 18, 2009 by Canadian UnderwriterPricing for directors’ and officers’ liability insurance decreased 2.7% in 2009 Q3 compared to the rates seen in the same quarter of 2008, according to Aon’s Q3 Quarterly D&O Pricing Index. In Standard & Poor’s financial institutions (FI) sector, D&O…
Marsh to acquire HSBC Insurance Brokers Ltd.
December 18, 2009 by Canadian UnderwriterMarsh has reached an agreement to acquire HSBC Insurance Brokers Ltd (HIBL), a wholly owned subsidiary of HSBC Bank. Under the terms of the agreement, Marsh will acquire HIBL in consideration of £135 million, comprising a mixture of Marsh &…
Proposed U.S. bipartisan bill would prohibit banks from engaging in insurance activities
December 18, 2009 by Canadian UnderwriterU.S. Senators Maria Cantwell (D-WA) and John McCain (R-AZ) have introduced a bipartisan bill that would prohibit U.S. commercial banks from engaging in all insurance activities, as well as prevent them from affiliating with investment banks. Essentially, the proposed bill…
IBC to work with Alberta on improving auto product, now that minor injury cap is upheld
December 17, 2009 by Canadian UnderwriterThe Insurance Bureau of Canada says the Supreme Court of Canada’s refusal to hear an appeal against the province’s Cdn$4,000 minor auto injury cap is “good news for Alberta motorists,” and will open the door for a future review of…
Supreme Court’s refusal to hear appeal efectively upholds Alberta’s Cdn$4,000 cap on minor auto injuries
December 17, 2009 by Canadian UnderwriterThe Supreme Court of Canada has upheld Alberta’s Cdn$4,000 cap on minor auto injuries.By refusing to hear any further appeal of the Alberta Court of Appeal’s decision, which found the province’s cap on minor auto injuries was constitutional, Canada’s top…
Adequate pricing essential in liability insurance: Swiss Re
December 17, 2009 by Canadian UnderwriterThe best products and best underwriting methodology for liability risk are no substitutes for adequate pricing, according to a Swiss Re sigma study. Prices should reflect escalating claims trends and the uncertainties of a rapidly changing technological and legal environment,…
What’s New: In Brief (December 17, 2009)
December 17, 2009 by Canadian UnderwriterAll passenger vehicles registered in Quebec, including taxis and rentals, must be equipped with winter tires between Dec. 15 to Mar. 15, said the Société de l’assurance automobile. Drivers can obtain a winter tire exemption certificate that will allow them…
The CIP Society Ontario Council Announces the 2009 Fellow of Distinction Award Recipient for the GTA
December 17, 2009 The CIP SocietyThe CIP Society Ontario Council, a division of the Insurance Institute of Ontario, announced today that Carla Blackmore, FCIP, CRM, retired director, commercial programs with Zurich Canada, has been selected by the nomination review committee as the 2009 recipient of…