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News

ING Canada’s Insurance Arm Becomes Intact Insurance

February 23, 2009

Under Dutch ownership, it carried the name of its financial giant parent. As a wholly-owned Canadian company, the former ING Insurance Company of Canada will be known as Intact Insurance, the new company announced this afternoon. The new name—its logo…

News

Equity markets pummel insurers’ earnings

February 17, 2009

The rapid sell-off on equity markets in Q3 and Q4 of 2008 took a heavy toll on Canada’s top insurance carriers, but Sun Life, Manulife and Great-West Lifeco still managed to eke out full-year profits, though substantially reduced. Sun Life…

News

Recession Fails to Dampen Canadian Buyouts

February 17, 2009

The economic doom and gloom that dominated the latter half of 2008 did not decimate Canada’s buyout industry, according to a report. Deal activity in Canada’s buyout market demonstrated continuing resilience in 2008 with a level of investment activity comparable…

News

Engaging DC Plan Members

February 17, 2009

Plan sponsors frequently struggle with their members’ involvement and the choices they make. In times of economic downturn, engagement becomes even more important. But what can you do to ensure that members understand and value their plans and help them…

News

Briefly…Munich Re Maps Natural Hazards

February 17, 2009

Munich Re has added to the industry’s risk research toolbox—creating a virtual map of the world’s natural hazard zones. The company launched this year’s Globe of Natural Hazards as a multi-media DVD that lets users find out the degree of…

News

Briefly…EFI Global, Cunningham Lindsey, Join Forces

February 17, 2009

Forensic engineering firm EFI Global has joined forces with adjusting specialist Cunningham Lindsey, the two companies announced last week. The merger combines the resources of both companies to “help clients assess risk, determine liability, minimize losses and manage environmental challenges,”…

News

Will Customer Satisfaction Drive Rebound for Insurers?

February 17, 2009

If shoppers will help spur an economic rebound, then property casualty insurers are well positioned to recover before other industries, according to a recent study of customer satisfaction. Consumers are much more satisfied with the service and products they get…

News

Briefly…New CEO for Swiss Re

February 16, 2009

Swiss Re has tapped its deputy chief to lead the company through the current economic climate. Stefan Lippe will take the reins at the reinsurer February 18. Outgoing CEO Jacques Aigrain resigned last week, noting that “the interests of Swiss…

News

Court Upholds Injury Cap in Nova Scotia

February 13, 2009

A Nova Scotia Supreme Court judge has upheld the province’s cap on auto accident minor injuries, keeping it at $2,500. Industry members welcomed the long-awaited decision, counting it as one victory in an ongoing defense–the Nova Scotia case, Hartling v.…

News

Credit Scores “Unacceptable” Risk Tool: FSCO

February 12, 2009

Ontario’s financial services commission has weighed in on credit scores, warning auto insurers that using them as a risk tool conflicts with the Insurance Act. Lifestyle factors—including credit history and credit rating—aren’t acceptable as underwriting or risk classification criteria for…

News

Briefly…RRJ/KRG Continues to Grow

January 29, 2009

The newly-formed partnership between RRJ Insurance Group and KRG Insurance Brokers has already expanded to include a new broker member. Late last week, the partners announced the addition of Oshawa-based Schofield-Aker Ltd. to their team. The brokerage will develop business…

News

Briefly…Partnership Creates Transportation Insurance Powerhouse

January 29, 2009

Two Western brokerages have forged a partnership to form the largest transport insurance shop in Alberta. Calgary-based Rogers Insurance Ltd. and Montana-based Stieg & Associates Insurance (Canada) Ltd. will become joint equity partners, creating Rogers Stieg Transportation Insurance (Canada) Ltd.,…