Cruise line operator Carnival Corporation posted $851 million in insurance recoverables in a filing for first-quarter 2012 results with the U.S. Securities and Exchange Commission (SEC). Carnival, which reported a loss of $139 million in the quarter, said “substantially all”…
The use of credit scoring for personal property insurance continues to result in consumer misunderstanding and unfairness in the marketplace, Ontario’s broker association said at an Apr. 4 press conference in Toronto. In a poll commissioned by the Insurance Brokers…
Insurance companies are prepared to pay $4 billion (NZ$5 billion) in 2012 for last year’s Canterbury earthquakes and another $12.2 billion in 2013, according to the Insurance Council of New Zealand. The council said the bulk of the liabilities for…
The Financial Services Commission of Ontario (FSCO) is warning consumers that “Royal Insurance” is not licensed to do insurance business in Ontario. The company is not affiliated or associated with Royal & Sun Alliance Insurance Company of Canada, an insurance…
A Medicine Hat, Alberta insurance agent has reached a settlement agreement with the Alberta Securities Commission, in which he agreed to pay $70,000 for his role in a 2009 insider trading scheme. According to the settlement agreement and undertaking, James…
A severe weather storm spawned about 10 to 16 tornadoes in the Dallas-Fort Worth, Texas area on Apr. 3. Preliminary estimates by catastrophe modeler AIR Worldwide, citing Red Cross figures, suggest 650 homes were destroyed in the area. The National…
Marsh has unveiled a new flood risk reinsurance pool in the United Kingdom designed to ensure that home insurance in flood-prone areas is widely available and fairly priced. Dubbed “Project Noah,” the plan involves insurers pooling their residential flood exposure…
Global aviation had one of its safest years ever, with the lowest number of claims, fatalities and incidents recorded since at least 1995, according to a recent report from Aon. Final losses for 2011, excluding minor claims, was $522 million,…
Less than a week after the federal government signed into law regulations in Canada’s Bank Act that prohibit banks from selling insurance on their websites, the Canadian Bankers Association (CBA) is asking federal regulators to “hit the pause button” and…
Frank Cowan Company has launched a new risk management website called the Risk Management Centre of Excellence. The centre is intended to be a resource helping municipalities prevent incidents before they occur. By identifying risks early, municipalities are able to…
The Economical Insurance Group has teamed up with an identity management firm to help small and medium-sized businesses recover after a privacy breach. With data risk management services provider IDT911, Economical is offering a solution that includes insurance coverage, breach…
CARSTAR announced on Apr. 3 that it is opening CARSTAR Kitchener Shirley Drive, CARSTAR Woodbridge Highway 7 and CARSTAR Kitchener King Street (Kieswetter) in Ontario. In addition, it is re-opening CARSTAR St. Albert in Alberta. CARSTAR Kitchener Shirley Drive, located…