News

Shawn DeSantis, executive vice president of RSA Insurance, has announced that he will take on the position of president and chief executive officer of a Toronto-based independent brokerage. After nearly a decade with RSA Canada, DeSantis will be moving to…

The Supreme Court of Canada Thursday stopped a Canadian tissue paper maker from pursuing a subrogated claim against the manager of a Vancouver-area warehouse that was destroyed by fire, along with more than $16 million of the manufacturer’s inventory, in…

The Canadian economy is expected to grow by just 1.8% this year, but that growth could speed up in 2014 as the situation strengthens south of the border, according to a recent outlook report. In its spring 2013 outlook report,…

Allianz Group has released a preliminary estimate of the impact that severe flooding in central Europe will have on the company, while one analyst firm expects reinsurers to take a bigger share of losses from the events. Allianz has said…

The Federal Insurance Office in the United States has released its first annual report on the insurance industry in the country, noting that persistent low interest rates are continuing to present a challenge. The office, within the U.S. Treasury department,…

Canada has become an increasingly attractive spot for cyber criminals, likely because of our good reputation, according to a new “report card” from IT security firm Websense. Since last year, there has been a 25% increase in Canadian sites hosting…

Aon Benfield released Thursday a study of financial reserves in the U.S. property and casualty industry and found the “overall industry redundancy” position dropped US$2.5 billion, from $11.7 billion at the end of 2011 to $9.2 billion at the end…

Independent agents and brokers are “generally pessimistic” about the impact usage-based auto insurance programs will have on their businesses, suggests a new report from Strategy Meets Action. About half of agents included in a survey by SMA said they believe…

The Manitoba government has released a draft regulation that, if implemented, would allow some types of businesses, such as banks, auto and equipment dealerships, to hold restricted insurance agent licences in the province. Those restricted agents, or incidental sellers, would…

Impact Forecasting, the catastrophe model development centre arm of Aon Benfield, has launched a scenario model of the recent severe floods in Germany. The model uses event footprints that show the extent of the flood, to allow insurers to gain…

The Financial Services Commission of Ontario (FSCO) is warning consumers that CC&B Group Inc. and Serafattin Solak are not licensed to do insurance business in the province and are connected to a fake auto insurance scam. Solak (also goes by the name “George”)…

The AAA Foundation For Traffic Safety announced Wednesday the publication a study on what it calls “cognitive sources of distraction” during driving. The study, sponsored by the foundation, suggests that text-to-speech e-mail can impair driving even though the drivers don’t…