Topic
Insurance
Antarctic polluters liable for environmental damage
June 15, 2005 by Canadian UnderwriterAn international treaty has recently been developed to protect the Antarctic environment and under this pact, anyone who causes an environmental accident in the region will be held liable, according to the government of New Zealand the country chaired negotiations…
Tornadoes and tsunami’s threaten Canadian residents
June 15, 2005 by Canadian UnderwriterEnvironment Canada recently issued two tornado warnings for southwestern Ontario due to a report from a Ontario Provincial Police officer referencing a tornado touching down northeast of Fergus, Ontario and further reports that a tornado touched down in Elmvale.A funnel…
Auto insurers to pay $1 million for indirect auto claims
June 15, 2005 by Canadian UnderwriterTwo recent court rulings have ordered two insurance company’s Citadel General Assurance Co. and Lumbermens Mutual Casualty Co. to pay almost $1 million in damages for two unrelated lawsuits representing appeals for two incidents that both occurred in 1999. Citadel…
What’s New: In brief (June 15, 2005)
June 15, 2005 by Canadian UnderwriterFlood registration centers recently opened to assist Albertans who have been impacted by recent flooding. Claims can be made at any registration center call 1-888-671-1111 for more information on the claims process. The $55 million disaster recovery program covers damage…
Insurance coalition requests federal intervention
June 14, 2005 by Canadian UnderwriterA coalition of over 100 insurers, financial institutions, agent groups and trade associations have called on the Senate Banking Committee in support of an optional federal charter for insurers. The coalition recently requested a federal regulator oversee the industry because…
Insurance management learn good business strategy
June 14, 2005 by Canadian UnderwriterIncreasingly, the onus is on management level executives in the insurance industry to learn how to use groundbreaking insurance tools to maintain and control company risk and, according to consensus at Standard & Poor’s recent conference “Insurance 2005: Under the…
Shumka Craig & Moore grow in Ontario (June 14, 2005)
June 14, 2005 by Canadian UnderwriterShumka Craig & Moore Adjusters Canada Ltd. (“SCM”) has acquired Custard Insurance Adjusters Canada Inc. (“CIA”), providing the independent, Edmonton-based firm with over 60 branches nationwide. CIA adds 11 Ontario branches to SCM’s roster, helping to solidify its standing as…
Survey shows large agencies increasingly hiring risk managers
June 13, 2005 by Canadian UnderwriterAccording to a recent compensation and benefits survey, conducted by the Business management Group Inc. (BMG), larger insurance agencies are more likely than not to employ a director of risk management, a claim specialist and a loss control specialist. BMG’s…
Ontario legislation to fine ‘polluters’ for accidental spills
June 13, 2005 by Canadian UnderwriterThe Ontario government has passed a law mandating that companies found polluting the environment will be fined on the spot.Under Bill 133, government inspectors are now awarded the power to fine companies up to $100,000 a day and individual employees…
Marsh & McLennan to sustain insurance broker subsidiary
June 13, 2005 by Canadian UnderwriterAs a result of recent broker compensation investigations, Marsh & McLennan Cos. implemented a strategic review of its insurance broker subsidiary Putnam and Marsh Inc. Putnam, which was charged in the Spitzer trials with improper fund trading. Results from the…
What’s New: In brief (June 13, 2005)
June 13, 2005 by Canadian UnderwriterOneBeacon Insurance Group, a unit within the White Mountains Insurance Group Ltd., has been subpoenaed by Connecticut officials investigating the industry for collusion with insurance brokers. OneBeacon received a subpoena from Attorney General Richard Blumenthal seeking information on conduct with…
Alea subpoenaed regarding finite investigations
June 10, 2005 by Canadian UnderwriterAlea Group Holdings Ltd. recently received a subpoena from the U.S. Securities and Exchange Commission (SEC) requesting its insurance documents relating to certain non- traditional, or loss mitigation, insurance products, according to a news statement made by the Company. “Alea…