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What’s New: In brief (June 06, 2005)


June 6, 2005   by Canadian Underwriter


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Insurers of recently Ridley Inc. a North American commercial animal nutrition company have recently been of law suits seeking recovery of damages for losses Canadian cattle farmers incurred from the international bans on the export of Canadian beef and cattle as a result of the discovery of a BSE infected cow in Alberta. Due to the nature of the claims, Ridley is not in a position to confirm the existence or extent of insurance coverage that may be available. Discussions with the relevant insurers are ongoing. The allegations of each of plaintiff, representing law suits filed in Ontario, Quebec, Alberta and Saskatchewan, are similar and therefore only one law suit may be instigated with the remaining three deciding action pending income of the initial suit.

Benfield has appointed Noreen Metcalfe to vice president, US property facultative solutions based in the new Chicago office. Metcalfe offers a BA in Political Science from Northwestern University as well as property facultative expertise which she attained in part from her previous position as vice president with Willis Re. Metcalfe managed Willis Re’s property facultative operations for the Midwest Region. She began her insurance industry career at General Re as a production underwriter, team leader, second vice president and senior underwriter.

Environment Canada will celebrate as Severe Summer Weather Awareness Week, June 6-10th, in the Atlantic provinces. The initiative is meant to remind individuals about the potential dangers associated with severe summer storms and other extreme summer factors. This year’s theme is “Know what to do before, during and after a storm. “It’s important to know what actions to take before, during and after a storm event,” Bill Appleby, Atlantic Regional Director of the Meteorological Service of Canada, says, “as what you do can help to save lives and protect personal property.” Each year personal property is damaged or destroyed because people are ill prepared to deal with severe summer conditions. The awareness week will teach Canadians how to take simple steps to help protect themselves and their property against damage.

Insurance Corporation of British Columbia (ICBC) recently renewed its contract with eAutoclaims for providing managed repair services through the Guaranteed Repair Network to their consumers traveling in the United States. ICBC will continue to use the eAutoclaims Appraisal Assignment Network of managed independent appraisers to supplement the shop network.

The Insurance Institute for Highway Safety recently released a report indicating marginal ratings in crash tests for the Nissan Maxima and Suzuki. The Chevrolet Malibu and Audi A-4 received a top score, good, in side impact tests of five 2005 model midsize sedans. The Volvo S60 rated the second-highest score of acceptable. Researchers controlling the tests questioned how well the vehicles would protect occupants in side-impact collisions and the tests reflect what happens when vehicles are hit in the side by a pickup or sport utility vehicle.


The 17th annual “Profit 100” ranking recently named Pethealth, Inc. (TSX VENTURE:PTZ) as one of Canada’s fastest-growing companies. Pethealth, a Canadian provider of accident and illness insurance for dogs and cats, has been ranked number two in the ranking. The rank placement is based on five-year revenue growth. “It is our vision to become North America’s leading provider of pet insurance and integrated health-related information services to the companion animal market,” Mark Warren, Pethealth’s president and CEO, says. “We continue to work toward our vision of bringing unique products and services to veterinarians, shelters and pet owners.” Pethealth is looking to new initiatives to help transform the company into a multi-layered revenue business. This transformation began with the creation of “24PetWatch,” a microchip and pet registry/recovery program. Revenue from the sale of microchip technology increased by 257% in 2004. To see the full ranking visit www.PROFITguide.com.


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