News
U.S. industry’s combined ratio likely to surpass 106% in 2011: Conning
October 13, 2011 by Canadian UnderwriterThe U.S. property and casualty’s combined ratio will likely creep higher than 106% in 2011, Conning Research & Consulting suggested.Conning’s ‘Property-Casualty Forecast & Analysis’ forecasts line of business and industry growth and performance for 2011-2013. It is based on Conning’s…
Insurers to start paying distribution tax on income from publicly traded income trusts
October 12, 2011 by Canadian UnderwriterInsurers will have to pay a distribution tax on income from publicly traded income trusts and partnerships for the 2011 taxation year, a report from PricewaterhouseCoopers (PwC) says.In its report, Insurance Industry: Key Tax Rates and Updates (2011-2012), PwC highlighted…
A.M. Best upgrades The Hartford Steam Boiler Group and its members
October 12, 2011 by Canadian UnderwriterA.M. Best Co. has upgraded The Hartford Steam Boiler (HSB) Group and its members’ financial strength rating to A++ (Superior) from A+ (Superior).HSB and its members’ issuer credit ratings were also upgraded to ‘aa+’ from ‘aa-‘.The outlook for all ratings…
Nova Scotia approaching a record for fewest highway deaths in a year
October 12, 2011 by Canadian UnderwriterNova Scotia is tracking toward the fewest highway deaths the province has had since record-keeping started in 1948, according to thechronicleherald.caAs of the end of September 2011, 51 people had died on Nova Scotia’s roads, four fewer than during the…
PPG Canada appoints new regional sales manager for Ontario
October 12, 2011 by Canadian UnderwriterPPG Canada Inc., Automotive Refinish has appointed Thane Higgs to the position of Ontario regional sales manager.Higgs recently held the position of director, sales and marketing in Canada with ITW Welding North America. Prior to that, he spent 12 years…
MPI sees 2011 H1 income halved
October 12, 2011 by Canadian UnderwriterManitoba Public Insurance (MPI) has reported a net income of $34.2 million for the six months ended Aug. 31, 2011, a decrease from the $69.3 million it earned during the same period in 2010.“Compared to last year, bodily injury claims…
It’s official: Banks now banned from promoting non-authorized insurance on their Web sites
October 12, 2011 by Canadian UnderwriterCanada’s new regulations prohibiting banks from promoting unauthorized insurance products and services on their Web sites are now official.The regulations came into force with very few amendments to the pre-published draft of regulations posted for public comment on Feb. 12,…
B.C. Appeal Court upholds order against insurer to defend District of Saanich in personal injury claim related to an errant lacrosse ball
October 11, 2011 by Canadian UnderwriterB.C.’s Court of Appeal has upheld a lower court order that requires Aviva Insurance Company of Canada to defend the Corporation of the District of Saanich in a personal injury liability case involving two named insured lacrosse associations.A man identified…
Appraisal Institute of Canada appoints Keith Lancastle as CEO
October 11, 2011 by Canadian UnderwriterThe Appraisal Institute of Canada (AIC) has appointed Keith Lancastle as its CEO, effective Sept. 19, 2011. Lancastle has more than 25 years of experience in the not-for-profit sector. Most recently, he led the Forest Products Sector Council (FPSC) as…
Gore Mutual donates $5,000 to Goderich Disaster Relief Fund
October 11, 2011 by Canadian UnderwriterThe Gore Mutual Insurance Company Foundation announced a $5,000 donation to the Goderich Disaster Relief Fund on Oct. 10. Funds will support community relief efforts following the tornado that devastated Goderich, Ontario on Aug. 21, 2011. The tornado caused $75…
Totten Insurance Group welcomes John Rhuland to its Atlantic region team
October 11, 2011 by Canadian UnderwriterTotten Insurance Group has welcomed John Rhuland, who will be opening a new Halifax/Dartmouth service office as part of its Atlantic region team.As manager of the new Halifax office, Rhuland will be doing commercial business for Totten Group in both…
Manitoba drivers no longer obligated to report minor fender-benders to police
October 11, 2011 by Canadian UnderwriterManitoba motorists are no longer required to report collisions involving property damage to police, except under certain circumstances including serious injury or death.Manitoba Attorney General Andrew Swan, minister responsible for Manitoba Public Insurance (MPI), said the changes to the province’s…