Willis Group Holdings has announced that it has adjourned an Extraordinary General Meeting (EGM) on a proposed merger with Towers Watson that was scheduled for Wednesday until Friday at 9:30 a.m. EST. The decision was made as a result of…
An Alberta law that allows for driving prohibitions of uninsured motorists who fail to repay the Motor Vehicle Accident Claims Program – and are discharged from bankruptcy – is unconstitutional, the Supreme Court of Canada has ruled. Section 102 of…
Waterloo, Ont.-based Economical Insurance announced on Friday that the first special meeting of eligible mutual policyholders will be held on Dec. 14. The meeting will be held in the Bingemans Ballroom, at 425 Bingemans Centre Drive in Kitchener, Ont., Economical…
U.K.-based Cooper Gay Swett & Crawford (CGSC) announced Friday that the global wholesale, underwriting management and reinsurance broking group will pursue a sale of its North American business unit. “We believe this transaction will best serve the long-term interest of…
DETROIT – A federal bankruptcy judge has ruled that people suing General Motors over faulty ignition switches can seek punitive damages that could cost the company millions of dollars or more. When General Motors emerged from a 2009 bankruptcy, it…
Co-operators General Insurance Company announced on Thursday today that its wholly-owned subsidiary has purchased Bando & Brown General Insurance in London, Ont., whose portfolio includes personal and commercial insurance policies. Current clients of the Bando & Brown brokerage will be…
ACE Limited shareholders have voted at a special meeting to approve all proposals related to the company’s previously announced agreement to acquire The Chubb Corporation, ACE announced on Thursday. ACE reported that votes in favour of each agenda item exceeded…
Some interesting manoeuvers can be expected as reinsurers seek to hold or grow their share of signings in the forthcoming renewals, Nick Frankland, CEO of Europe, Middle East and Africa (EMEA) operations for Guy Carpenter & Company, LLC, suggested Sunday during…
PORTLAND, Maine – A U.S. bankruptcy judge has approved a $446-million Cdn settlement fund for victims of the fiery Lac-Megantic oil-train derailment in Quebec, clearing the way for payments to victims by year’s end. Judge Peter Cary in Portland, Maine,…
Pollution problems resulting from the 2013 fatal railway derailment in Lac-Mégantic, Quebec will persist for years, while officials with the railway company involved were “not exactly leaders” in safety management, a Transportation Safety Board of Canada official suggested to insurance…
MONTREAL – Canadian Pacific Railway is willing to drop its appeal of the $450-million settlement fund for victims of the Lac-Megantic tragedy if it is granted certain legal protections, lawyers said Tuesday. Lawyers for Montreal Maine and Atlantic Railway Ltd.…
The current tax policy governing intergenerational business transfer is a clear disadvantage for brokerage firms. Quebec’s broker channel maintains, however, that draft federal legislation offers the promise of levelling the playing field for brokerages across the country.