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Northbridge
Firming market ‘might have legs,’ Fairfax executive predicts
November 4, 2019 by Greg MeckbachInsurance premiums are up nearly 14% for carriers owned by Fairfax Financial, and much of that is due to price increases, the holdings company’s president suggests. “In my career here – 16 years – I haven’t seen anything quite like…
When keeping customer’s car keys is not “custody” of a car
October 21, 2018 by Greg MeckbachNorthbridge has to pay out on a hotel’s liability insurance policy resulting from theft of a guest’s car, the Supreme Court of Canada ruled in a decision released Friday. Lombard, now known as Northbridge, provided both property and liability insurance…
2018 Outlook: Silvy Wright, President, CEO Northbridge Financial Corporation
January 3, 2018 Silvy WrightWith digital innovation, customers are extracting more value from their insurance partners — and this will only continue to ramp up in 2018. Insurtech startups raised $985 million in 2017 Q2 alone; investments in startups have increased by 36% over…
Northbridge offers lead generation to broker members of Canadian Federation of Independent Business
November 10, 2017 by Canadian UnderwriterBrokers who are members of the Canadian Federation of Independent Business can be matched with small businesses requesting quotes for property and liability coverage, Northbridge Insurance suggested Friday. A recently-announced partnership between Northbridge and CFIB “connects participating brokers with prospective…
Gross written premiums up 9.7% for Northbridge
August 8, 2017 by Canadian UnderwriterNorthbridge Insurance had a 0.3-point in its second-quarter combined ratio, from 100% last year to 99.7% this year, while OdysseyRe’s combined ratio improved 3.9 points, the insurers’ parent firm, Fairfax Financial Holdings Ltd., reported recently. Toronto-based Northbridge Insurance had an…
Fairfax-Allied merger offer expires Friday night
June 28, 2017 by Canadian UnderwriterShareholders of commercial insurer and reinsurer Allied World Assurance Company Holdings AG are being urged to accept the offer from Toronto-based Fairfax Financial Holdings Limited to buy Allied World shares because the merger agreement initially announced a week before Christmas…
Fairfax agrees to reduce holdings in insurance joint venture with ICICI Bank
June 1, 2017 by Canadian UnderwriterFairfax Financial Holdings Ltd. has agreed to reduce its holdings in Mumbai, India-based insurer ICICI Lombard General Insurance Company Ltd., a joint venture between ICICI Bank and Toronto-based Fairfax. In its annual report for 2016, released in April, Fairfax reported…
Allied World acquisition would allow ‘further diversification’ of Fairfax’s insurance business: A.M. Best
December 21, 2016 by Canadian UnderwriterThe corporate parent of Toronto-based Northbridge Insurance “should benefit from further diversification of its business” if it acquires commercial insurer and reinsurer Allied World Assurance Company Holdings AG, A.M. Best Company Inc. has suggested. Fairfax Financial Holdings Ltd. – which…
Disputed course of construction claim involving LEG exclusion remanded back to B.C. appeal court
October 25, 2016 by Canadian UnderwriterA disputed $14.5-million claim on a course of construction policy, arising from an incident when concrete slabs over-deflected during the building of a hospital addition, was recently remanded by the Supreme Court of Canada to the British Columbia Court of…
Builder’s Risk
October 1, 2016 Timothy McGurrin, Partner, Miller ThomsonIn light of a recent Supreme Court of Canada ruling on a builder’s risk policy, insurers can anticipate that court decisions involving disputes over standard form insurance contracts are more likely to be appealed.
Pokémon Go risks include distracted driving, exposure of confidential data: Northbridge
August 24, 2016 by Canadian UnderwriterNorthbridge Insurance recently warned of several risks arising from the Pokémon Go computer game, including exposure of confidential information, liability exposure and distracted driving. “Augmented reality games usually require your GPS location and a data connection (either WiFi or cellular…