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Mergers and Aqcuisitions


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Ontario auto cost insurers $900 million in 2009: IBC

March 30, 2010 by Canadian Underwriter

Canadian property and casualty insurers writing Ontario auto lost an astounding $907 million in 2009, said Barbara Sulzenko-Laurie, vice president of policy at the Insurance Bureau of Canada (IBC).Sulzenko-Laurie presented a ‘State of the Industry’ speech at the Swiss Re–IBC

News InsuranceMergers and Aqcuisitions

Insurance Brokers Association of Nova Scotia says province’s auto injury cap is “warranted,” but needs to be indexed

March 29, 2010 by Canadian Underwriter

The Insurance Brokers Association of Nova Scotia (IBANS) says limitations placed on pain and suffering awards in the province have “resulted in a satisfied consumer, a competitive marketplace and rate stability that has been continuous since 2003.”The association thus responded

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Wildfire risk under-priced in Canadian market: ICLR

March 26, 2010 by Canadian Underwriter

The insurance industry “dodged a bullet” in 2009 with wildfire losses, but it currently has its “head in the sand” when it comes to pricing this risk, said Glenn McGillivray, managing director of the Institute for Catastrophic Loss Reduction (ICLR).McGillivray

News InsuranceMergers and Aqcuisitions

Insurance industry ranked “below average” for e-customer service

March 26, 2010 by Canadian Underwriter

The insurance industry performed well in phone customer service, but was ranked as below average when it came to customer service through email or the Web, an eGain survey found.eGain Communications Corporation, a customer service software provider, evaluated multiple aspects

News InsuranceLegalMergers and Aqcuisitions

Onus is not on an insurer to prove the lack of a settlement agreement: FSCO

March 25, 2010 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has reversed an arbitration decision that placed the onus on an insurer to prove that a disputed settlement offer of $17,000 had not been agreed upon.In Allstate Insurance Company of Canada and Edna

News InsuranceMergers and Aqcuisitions

Marsh Canada appointed advisor for energy retrofit company Greenscape

March 25, 2010 by Canadian Underwriter

Greenscape Capital Group Inc. has appointed Marsh Canada Limited as an advisor to the company, as Greenscape embarks on an aggressive growth phase of its energy retrofit business.Marsh’s Vancouver construction and design practice will provide insurance product placement, insurance and

News InsuranceLegalMergers and Aqcuisitions

Quebec regulator cancels registration of two firms; fines two more

March 24, 2010 by Canadian Underwriter

The Autorité des marches financiers (AMF) has cancelled the registration of two insurance firms and fined two others.The Quebec regulator cancelled Hampstead Cameron inc., a damage insurance firm’s registration, when Pierre Fecteau, the firm’s responsible officer, allegedly “made misrepresentations or

News InsuranceLegalMergers and Aqcuisitions

B.C. Appeal Court orders ICBC to pay damages for injury sustained when vehicle is used to commit a crime

March 24, 2010 by Canadian Underwriter

B.C.’s Appeal Court has ordered the province’s public insurer to pay damages to a claimant who was injured by a van used to snatch her purse.Shirley Jane Hannah made a claim against the Insurance Corporation of British Columbia (ICBC) for

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FSCO itemizes research priorities related to auto insurance reforms

March 22, 2010 by Canadian Underwriter

The future priorities of Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), include undertaking several studies intended to support the province’s forthcoming auto insurance reforms. In its draft June 2010 Statement of Priorities, FSCO itemizes several upcoming research

News AssociationsClimate ChangeInsuranceMergers and Aqcuisitions

IBC encourages flood mitigation techniques in Manitoba

March 22, 2010 by Canadian Underwriter

Canada’s home, business and auto insurers are doing public education in Manitoba, noting The Red River is expected to peak in Winnipeg in early April, two weeks earlier than usual. “While it is predicted that recent warm, dry weather and

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Carstar adds three more locations to its network

March 22, 2010 by Canadian Underwriter

Carstar Automotive Canada Inc. has added three new locations to its network: Coquitlam, B.C., Scarborough North East, Ontario, and Welland, Ontario.Darko Zukina is the owner and operator of Carstar Coquitlam. Zukina has been in the collision repair industry for nearly

News InsuranceMergers and Aqcuisitions

Federal opposition calling for amendments to Motor Vehicle Safety Act

March 19, 2010 by Canadian Underwriter

Following hearings into the Toyota recall, the New Democrat Party is calling for the government to reform the Motor Vehicle Safety Act that would empower Transport Canada. NDP MP Brian Masse is calling for Transport Canada to have the power