News
The Co-Operators launches sustainability toolkit
November 11, 2011 by Canadian UnderwriterThe Co-operators has launched a toolkit offering guidance for leading more environmentally sustainable lives. Sustainability at Home: Decision making help for your everyday choices was released in partnership with The Natural Step Canada.The toolkit presents Canadians with practical tips and…
EGI Financial Holdings cites improvements in Ontario auto for better financial results in 2011 Q3
November 11, 2011 by Canadian UnderwriterEGI Financial Holdings Inc. reported a $2.3-million profit in 2011 Q3, up $2.3 million over 2010 Q3.For the first three quarters of 2011, EGI recorded a $10-million improvement in underwriting results over the same period in 2010.The company’s combined operating…
RSA Canada CEO Rowan Saunders appointed to RSA’s Global Group executive team
November 11, 2011 by Canadian UnderwriterRSA has announced changes to its operating structure that will see RSA Canada president and CEO Rowan Saunders appointed to its Global Group executive team.Effective Jan.1, 2012, RSA Group will be organized into four regions: UK & Western Europe, Scandinavia,…
U.S. securities regulator files record number of enforcement actions in 2011
November 11, 2011 by Canadian UnderwriterThe U.S. Securities and Exchange Commission (SEC) filed a record 735 enforcement actions in the fiscal year that ended Sept. 30, the agency reported in a release.The number includes many cases involving highly complex products, transactions and market practices, including…
Munich Re reports tumbling Q3 profits
November 10, 2011 by Canadian UnderwriterMunich Re posted a profit of roughly $110 million in the first nine months of 2011, compared to a profit of $2.7 billion during the same period of 2010. The group posted a profit of $401 million in 2011 Q3,…
DAS Canada offers free legal advice to small business owners in the Maritimes
November 10, 2011 by Canadian UnderwriterDAS Canada is offering small businesses in Atlantic Canada a week of free access to its legal service hotline and the opportunity to win a free year of legal insurance coverage.During the week of Nov. 14, small business owners in…
Driving without winter tires won’t void coverage, but may determine fault: ICBC
November 10, 2011 by Canadian UnderwriterDriving without winter tires will not void an insurance policy in the event of a claim, but in a scenario in which a driver has crashed and winter tires may have helped to avoid it, it may be a deciding…
IBAO launches mobile service for its members
November 10, 2011 by Canadian UnderwriterInsurance Brokers Association of Ontario (IBAO) launched a mobile service for its members to assist with productivity and keep brokers organized while on the go. The new service, called ‘hereiam,’ allows brokers to:•Listen and compose emails while driving. The hereiam…
Desjardins reports increased surplus earnings in 2011 Q3 despite higher loss ratio
November 10, 2011 by Canadian UnderwriterThe Desjardins Group’s property and casualty insurance segment reported its surplus earnings rose $17 million in 2011 Q3 despite a higher loss ratio in the third quarter of 2011 than during the same period in 2010.The segment’s total income in…
Ontarians fail to pay more than $350 million worth of fines related to invalid/false insurance cards
November 10, 2011 by Canadian UnderwriterOntarians have not paid more than $1 billion in Provincial Offences Act fines, and one-third of these fines relate to driving with invalid or false insurance cards, according to a white paper released on Nov. 9 by the Ontario Association…
Alberta government denies disaster recovery assistance to Cold Lake residents
November 10, 2011 by Canadian UnderwriterAlberta has denied disaster recovery assistance to Cold Lake, Alberta residents for flood damage sustained during a storm event in late June 2011, telling the Edmonton Journal that the storm did not qualify as a 1-in-25-year event.Instead, a hydrologist contracted…
IBC supportive, but concerned by Nova Scotia auto reform package
November 9, 2011 by Canadian UnderwriterInsurance Bureau of Canada (IBC) remains cautiously optimistic of Nova Scotia’s auto insurance reforms, expressing concern regarding the complexity of implementation issues associated with such comprehensive changes. “IBC applauds the Nova Scotia government for its direction with these reforms and…