News

The Insurance Brokers Association of Ontario (IBAO) has announced that Debbie Thompson has been elected as the association’s 70th president.  Thompson was officially inducted at the recent IBAO Convention held in Toronto, and will formally assume her role as president…

The Hartford has announced its initial loss estimate for “superstorm” Sandy, with gross losses and loss adjustment expenses estimated at $370 million before tax. Losses and loss adjustment expenses net of reinsurance are estimated at $350 million, before tax, the company said Wednesday.…

Automaker Honda has issued a recall for more than 52,000 minivans and SUVs in Canada and hundreds of thousands more worldwide for a roll-away risk. The company has issued the recall for its 2003-04 Odyssey and Pilot models. The recall…

The Chubb Corp. has estimated its losses from “superstorm” Sandy to be about $570 million after tax, the company said Tuesday. That amount, which equates to $880 million before tax, includes estimated losses and loss expenses net of reinsurance recoverable…

The Institute for Catastrophic Loss Reduction (ICLR) has announced the launch of Wind Wizard: Alan G. Davenport and the Art of Wind Engineering, a book commissioned by the Institute in honour of Dr. Alan Davenport, pioneering wind engineering professor at…

Munich Re announced Wednesday it is providing reinsurance for some product warranties of Chinese solar module manufacturer Yingli Green Energy Holding Company Ltd. “In the event of an unexpectedly large performance loss below guaranteed performance specification, Munich Re indemnifies Yingli…

Swiss Re released Wednesday a report that predicts higher growth in Canada in direct premiums written in the non-life insurance market. The report, dubbed Global insurance review 2012 and outlook 2013/14, includes a table depicting real growth of direct premiums…

The Insurance Bureau of Canada is estimating insured damage caused by severe weather across Canada to be over $1 billion this year. Total insured damage in Canada during 2012 is approximately $1.19 billion, down from last year’s $1.7 billion, according…

The Manitoba government has pledged $100,000 of provincial support  to the Manitoba Council for International Cooperation (MCIC) in response to  flooding in the southern Philippines caused by typhoon Bopha. The natural disaster is reported to have killed more than 600…

Claims adjusting and management firm Cunningham Lindsey Group has announced the closing of its previously announced recapitalization by investor group CVC Capital Partners. Terms of the transaction, which was previously announced on Oct.1, 2012, were not disclosed. Read more: Investor group…

The Co-operators Group Ltd. of Guelph, Ont. is stepping up its efforts to encourage the installation of sprinklers in private homes, with a discount program offering up to 30% savings on premiums, a research project with a major Toronto hospital…

An advocacy organization representing auto accident victims is taking issue with some of the recommendations of the recently released report from the auto fraud task force in Ontario.  Although it describes the report as “largely a thoughtful and targeted approach…