A $1.9-million surety bond claim has resulted in a landmark court decision in favour of The Guarantee Company of North America. A-1 Asphalt Maintenance Ltd. went bankrupt in 2014. At that time it was a contractor on four road-paving projects in…
A dispute involving The Guarantee Company of North America arising from unpaid construction bills could reach the Supreme Court of Canada. The highest court announced Friday The Guarantee is applying for leave to appeal Guarantee Company of North America v…
An argument from a group of insurers and brokers – that construction contractors should not have a duty to inform subcontractors of the existence of a surety bond – has been rejected by the Supreme Court of Canada. In Valard…
The management teams of both Trisura and RSA Canada continue to work closely together to ensure a smooth transition of RSA’s contract and commercial surety business in Canada to Trisura Guarantee Insurance Company. “Our primary objective is to ensure minimal…
Chicago, Ill.-based Hub International Limited announced on Monday that Hub Quebec has purchased “certain assets” from Patrice Varin, through a corporation held by him. Terms of the acquisition were not disclosed. Varin will join Hub Quebec, bringing with him a…
Willis Towers Watson plc reported Thursday its commissions and fees from corporate risk and broking were $624 million during the three months ending June 30, a slight drop from $627 million during the same period in 2016. “North America organic…
Intact Financial Corp. reported Tuesday its underwriting income was $103 million during the three months ending June 30, up $87 million from $16 million during the same period in 2016. Toronto-based Intact said direct premiums written rose 2%, from $2.458…
Chubb’s newly launched multi-line industry practice will focus on providing insurance products, service and risk management solutions for best-in-class large risk transportation clients in both the United States and Canada. The formalization of the practice, within the insurer’s Major Accounts…
Trisura Group Ltd., a surety and commercial specialty insurer that was spun off this year from Toronto-based Brookfield Asset Management Inc., plans to begin writing insurance in the United States. In a July 12 press release, Trisura said it “has…
Commercial insurance prices in the United States were nearly flat during the first quarter of 2017, according to the last Commercial Lines Insurance Pricing Survey (CLIPS) from Willis Towers Watson (WTW). The survey, released on Monday, compared prices charged on…
Warranties that new homes in Ontario are free from defects should be available from multiple providers and treated as insurance products, former judge J. Douglas Cunningham recommended in a recent report. Warranty coverage currently available from Tarion Warranty Corp. “should…
Having as much solid information as possible – as early as possible – can help open up the marketplace when it comes to available coverages for construction projects, Peter Campbell, Halifax branch manager for Jardine Lloyd Thompson Canada, suggested during…