Canadian Underwriter

Topic
Mergers and Aqcuisitions


News InsuranceMergers and Aqcuisitions

What’s New: In Brief (January 21, 2010)

January 21, 2010 by Canadian Underwriter

Catlin Canada now underwrites D&O liability and has appointed Christopher Mutcheson as product manager for the line of business.Mutcheson was most recently employed as the assistant vice president of financial lines for Executive and Risk Services. He has prior underwriting

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

FSCO approves average auto rate increase of 2.49% in 2009 Q4, based on entire market

January 19, 2010 by Canadian Underwriter

Ontario’s insurance regulator has approved a 2009 Q4 auto insurance rate increase of 2.49%, based on the entire market.In the fourth quarter of 2009, for the 55.48% of the province’s auto insurance market that had rate changes approved, the average

News InsuranceMergers and Aqcuisitions

Insurance contract to pay accident benefits not “a contract for peace of mind”: Ontario judge

January 19, 2010 by Canadian Underwriter

The daughter of a woman who was injured in an auto collision and subsequently denied accident benefits is not entitled to collect benefits under her mother’s policy based on the loss of her mother’s care and guidance, the Ontario Superior

News InsuranceMergers and Aqcuisitions

Nova Scotia presses ahead with its review of minor auto injury cap

January 18, 2010 by Canadian Underwriter

Nova Scotia’s government is moving ahead with its promised review of the province’s $2,500 minor auto injury cap.The government has issued a nine-page discussion paper on the cap, entitled Concerning the Cap on Pain and Suffering Awards for Minor Injuries,

News InsuranceMergers and Aqcuisitions

iv3 Solutions teams up with Altus Group to bring residential replacement cost solution to Canadian market

January 18, 2010 by Canadian Underwriter

iv3 Solutions has teamed up with Altus Group (TSX: AIF.UN) to bring a residential replacement cost toolset to the Canadian marketplace in early 2010.iv3 Solutions has also launched residential inspection management services and loss control solutions to the North American

News InsuranceLegalMergers and Aqcuisitions

Ontario auto reforms need to clarify an ‘incurred cost’: defence lawyer

January 15, 2010 by Canadian Underwriter

There is a need to provide a clear definition for the word “incurred” under Ontario’s Statutory Accident Benefits Scheme (SABS), said Philippa Samworth, a partner at Dutton Brock LLP.Typically, “incurred” is interpreted to mean that a person has paid for

News InsuranceLegalMergers and Aqcuisitions

Proposed changes to Ontario medical and rehab benefits potentially “problematic” for brokers

January 15, 2010 by Canadian Underwriter

The proposal to decrease Ontario’s medical and rehab benefit from $100,000 to $50,000, including an option to purchase higher limits, will place a huge onus on brokers and expose them to an increased risk of litigation, said Philippa Samworth, a

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (January 14, 2010)

January 14, 2010 by Canadian Underwriter

Kenneth V. Lavigne has been appointed senior vice president and manager of FM Global’s Canada division.Lavigne replaces Perry Brazeau, who retired at the end of 2009 after 33 years with the company. Lavigne joined FM Global in 1980 as a

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Ontario auto insurance rates increased in 2009 Q4: Kanetix

January 13, 2010 by Canadian Underwriter

The lowest auto insurance rates quoted by Kanetix in Q4 2009 increased on average 5.3% when compared to the same period of 2008.The increase, consistent with rate changes previously approved and announced by Ontario’s auto insurance regulator, means drivers should

News AssociationsInsuranceMergers and Aqcuisitions

Insurance industry counsels Alberta not to prohibit exclusion of claims for fire following terrorist events

January 12, 2010 by Canadian Underwriter

Canada’s property and casualty insurance industry is “strongly cautioning” the Alberta government to scrap a proposal that would prohibit insurers from excluding claims for fire damage following terrorist or earthquake events.Primary insurers would run a higher risk of insolvency if

News InsuranceMergers and Aqcuisitions

MPI profits increase in 2009, based on rebound in investment markets

January 12, 2010 by Canadian Underwriter

Manitoba Public Insurance (MPI) has a reported net income of $32.1 million for the nine months ended Nov. 30, 2009, compared to a net income of $1.8 million for the same period of 2008. The improvement was achieved in part

News InsuranceMergers and Aqcuisitions

Painful symptoms alone not sufficient to claim non-earner benefits: Ontario court

January 11, 2010 by Canadian Underwriter

Painful symptoms that interfere with a person’s post-accident activities are not sufficient to entitle claimants to non-earner benefits — particularly in circumstances when there is a pre-existing medical condition, Ontario’s arbitrator has ruled.   In Jasmin Mangallon and TTC Insurance Company