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ICBC to appeal Cdn$12.5-million jury award

October 30, 2009 by Canadian Underwriter

The Insurance Corporation of British Columbia (ICBC) is appealing a B.C. Supreme Court decision to award a woman Cdn$12.5 million in damages, an ICBC representative has told Canadian Underwriter.After a five-day trial, a jury awarded the insured Cdn$6.5 million in

News AssociationsClimate ChangeInsurance

IBC to pilot new tool to assess municipal climate change risks

October 30, 2009 by Canadian Underwriter

Insurance Bureau of Canada (IBC) has approved Cdn$1-million pilot project for a new municipal risk assessment tool that will help insurers assess climate change risks.The new tool is intended to collect key data that will help insurers better understand the

insPRESS Insurance

TIWA pleased to name the Insurance Institute of Canada as TIWA Patron of the Year for 2008.

October 30, 2009 Canadian Underwriter magazine

The Toronto Insurance Womens Association (TIWA) is pleased to name The Insurance Institute of Canada as TIWA Patron of the Year for 2008. With this award, TIWA expresses its gratitude for the valuable contribution made by the Institute to TIWAs

insPRESS Insurance

SPECS Limited Ottawa Branch Relocates to New Office Location

October 29, 2009 SPECS (Specialized Property Evaluation Control Services)

Edmonton, AB October 29, 2009 SPECS Limited, the countrys leading provider of independent property damage valuations and cost control services has relocated its Ottawa branch office. The move is in response to the strong client demand, an increasing project list,

News Insurance

Travel insurance is the best way to handle H1N1-related trip cancellations, airlines say

October 29, 2009 by Canadian Underwriter

The Public Health Agency of Canada has issued travel guidance asking Canadians sick with the H1N1 virus to postpone their travel plans — and has requested that airlines make it easier for travelers to re-book their flights.The airlines have responded

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

What’s New: In Brief (October 29, 2009)

October 29, 2009 by Canadian Underwriter

With the 2010 Olympic and Paralympic Winter Games fast approaching, Insurance Bureau of Canada (IBC) is reminding B.C. homeowners to make sure they are properly insured before renting out their property to visitors.Since last year, IBC has been encouraging B.C.

News AssociationsInsurance

What’s New: In Brief (October 29, 2009)

October 29, 2009 by Canadian Underwriter

Tess Romain has been appointed to Insurance Bureau of Canada (IBC)’s Ontario Division as manager of government relations, effective Nov. 2, 2009.Romain holds plenty of work experience with the Ontario government, specifically in the Minister’s offices of Public Infrastructure Renewal

News Insurance

S&P’s not overly optimistic about global multiline insurers’ ratings

October 29, 2009 by Canadian Underwriter

Despite signs of an economic recovery, including positive trends in the equity markets and lower credit spreads, Standard & Poor’s (S&P’s) Rating Services remains of the opinion that market conditions will continue to put pressure on its ratings of global

insPRESS Insurance

Mike Kelly Joins the STRONE Corporate Support Team

October 28, 2009 Strone Restoration Professionals

We are pleased to announce the addition of Mike Kelly to our company. Mike joins our corporate support team as Regional Branch Manager. Prior to joining STRONE, Mike held key management positions within a prominent insurance company. With over 20

News AssociationsInsurance

HST to cost insurers a one-time hit of Cdn$250 million: IBC president

October 28, 2009 by Canadian Underwriter

The implementation of the Harmonized Sales Tax (HST) will result in a one-time hit of $250 million for the insurance industry at the end of 2009, Don Forgeron, president and CEO of Insurance Bureau of Canada, told delegates of the

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

What’s New: In Brief (October 28, 2009)

October 28, 2009 by Canadian Underwriter

The New Brunswick Insurance Board held a public hearing on Oct. 27 to consider an auto insurance rate filing by IAO Actuarial Consulting Services Inc. (IAO), which recommends an average rate decrease of 6.02% for 2010.The outcome of the meeting

News Insurance

What’s New: In Brief (October 28, 2009)

October 28, 2009 by Canadian Underwriter

RenaissanceRe Holdings Ltd. reported a US$258.6-million profit in 2009 Q3, compared to a net loss of US$231 million in 2008 Q3.   But gross premiums written (GPW) declined by US$37.4 million, down to US$202.4 million, in 2009 Q3. The reinsurer said