Topic
Insurance
Five years after SOX, business as usual for auditors
November 6, 2007 by Canadian UnderwriterFor the first time since the U.S. Sarbanes-Oxley Act [SOX] went into effect in 2002, a growing number of internal audit departments are returning to business as usual, according to a new survey by Protiviti Inc.Protiviti is a provider of…
U.S. insurance industry payroll increasing
November 5, 2007 by Canadian UnderwriterInsurance industry payrolls in the United States increased by 1,500 in the month of October, to a new high of 2.367 million, reports A.M. Best Company.Citing research from the U.S. Bureau of Labour Statistics, A.M. Best reported that average weekly…
What’s New: In Brief (November 05, 2007)
November 5, 2007 by Canadian UnderwriterEchelon General Insurance Company has renovated its place in cyberspace and launched a newly redesigned Web site.Key features of the new site include easy navigation tools, information about the companys latest personal lines offerings (for example, new product offerings in…
What’s New: In Brief (November 05, 2007)
November 5, 2007 by Canadian UnderwriterJust one month after the Ontario government introduced a tough new, anti-street-racing law, more than 1,000 motorists have been charged under the act, the Metro newspaper in Toronto has reported.The new law introduces harsh penalties such as license suspension or…
The Co-operators reports profits of $30.3 million for 2007 Q3
November 5, 2007 by Canadian UnderwriterThe Co-operators General Insurance Company reported profits of Cdn$30.3 million for 2007 Q3, compared to Cdn$18 million for 2006 Q3. The improvement was due to stronger underwriting performance, according to The Co-Operators. Gross written premium increased 4.1% to Cdn$571.9 million…
ESIS to provide dedicated Canadian workers compensation oversight
November 2, 2007 by Canadian UnderwriterESIS Inc., a risk management services company of ACE USA, announced it will provide dedicated Canadian workers compensation oversight to its clients through its affiliate, ESIS Canada Inc. ESIS Canada Inc. will offer reporting services for all new claims to…
What’s New: In Brief (November 02, 2007)
November 2, 2007 by Canadian UnderwriterAtlantic Canadians should brace themselves for Hurricane Noel, which is forecast to track across western Nova Scotia, cross the Gulf of St. Lawrence, and then move through Labrador, the Canadian Hurricane Centre warns. Hurricane Noel is on its way to…
Ontario Court upholds liability waiver based on “forseeable” risk
November 2, 2007 by Canadian UnderwriterThe legal test for negligence which would absolve an outdoor equipment provider of liability in a personal injury case is not perfection but rather to design a product so as to eliminate any unreasonable risk of foreseeable injury, the Ontario…
Fairfax reports Q3 profits of $253.2 million
November 2, 2007 by Canadian UnderwriterFairfax Financial Holdings Ltd. has reported profits of Cdn$253.2 million for 2007 Q3, a dramatic increase from 2006s Q3 loss of Cdn$359.2 million. In the first nine months of 2007, net earnings increased to Cdn$532.2 million, compared to a reported…
Johnson Inc. acquires Kingston-area insurance brokerage
November 1, 2007 by Canadian UnderwriterJohnson Inc. whose parent company, The Johnson Corporation, is an autonomous member of Royal & SunAlliance has acquired Kingston-based brokerage Thomson Jemmet Vogelzang (The Insurance Centre Inc.).Thomson Jemmet Vogelzang (The Insurance Centre Inc.) is the result of an amalgamation in…
B.C. driver training school surrenders license, faces RCMP investigation
November 1, 2007 by Canadian UnderwriterA British Columbia driver training school has surrendered its licence after an Insurance Corporation of British Columbia (ICBC) and RCMP investigation uncovered an alleged scheme of fabricated commercial driver experience letters.According to an ICBC press release, Southwest Driving Academy provided…
Markel International opens new offices in spite of challenging market conditions
November 1, 2007 by Canadian UnderwriterMarkel Corporation, parent company of MINT Canadian Specialty, has reported a drop of US$14 million in its gross written premiums for 2007 Q3 over the same period of 2006.The company reported its gross written premium was US$162 million in 2007…