The Insurance Brokers Association of Ontario (IBAO) has awarded Peter Blodgett of Darling Insurance and Realty Ltd. its Broker of the Year Award, along with distributing several other awards during its annual convention. Its annual Awards of Excellence gala, held…
Economical Insurance, which recently announced it is cutting 145 positions, said Oct. 23 that its vice president for the Ontario region, Walter Leszkowicz, has left to “pursue other endeavours” while several other executives are taking on additional responsibility. In a…
North America is most affected by weather-related catastrophes, and the potential for even more disasters is increasing because of climate change, suggests a report from German reinsurer Munich Re. Worldwide, the number of catastrophes has been on the rise since…
About 600,000 British Columbia residents spent some time under desks, dropping, covering and holding on during earthquake preparedness drill ShakeOut B.C. on Oct. 18. Provincial justice minister and attorney general Shirley Bond and education minister Don McRae were among those…
Globalization, increasingly complex supply chains and the rise of social media on the Internet are among the risks identified in a survey of European business managers in a recent report by Commercial Risk Europe magazine of London. The Risk…
Four of the 19 insurance companies named in a class action lawsuit launched by consumer association Option consommateurs following the 1998 ice storm in Ontario and Quebec have agreed to pay $12.5 million, without admitting liability. The tentative agreement was…
Economical Insurance has cut 145 positions across 14 of its Canadian offices, the company announced Oct. 22. “Constant evaluation and adjustment is necessary for the long-term health of any business. In the increasingly competitive Canadian property and casualty insurance industry,…
The financial performance of the United States property and casualty insurance market improved year-over-year during the first six months of 2012, as net reported catastrophe losses dropped, according to A.M. Best Company Inc. In its six-month financial review announced Monday,…
Detroit area insurance firm Burns & Wilcox, which has expanded into Canada with the acquisition of Chesterfield, is planning to open a Calgary office within six months. “Oil and energy is something we are very interested in pursuing, to the…
Specialty legal expense insurer DAS Canada has launched a new product to help protect small businesses from major legal costs associated with their commercial vehicles. DAStransport is meant to “fill the gaps in traditional commercial vehicle insurance coverage,” the company…
Southern New Brunswick was hit by heavy rainfall on Oct. 20, with Environment Canada estimating that precipitation in some regions could exceed 70 mm. “These conditions could lead to localized flooding, particularly where normal drainage systems are overwhelmed,” noted a…
Insurance brokers need to make more use of predictive analytics computer software to offer better rates to lower-risk customers but the industry hasn’t done a good job of explaining the benefits to customers and policymakers, according to the heads of…