News
Hurricane Katia won’t hit Canadian land, but will affect marine territory along Nova Scotia and Newfoundland coastlines
September 8, 2011 by Canadian UnderwriterHurricane Katia is tracking to bypass Canadian land, but it is expected to kick up waves of up to 15 feet high along the south-facing coastlines of Nova Scotia and Newfoundland, the Canadian Hurricane Centre reports.“Most computer models are indicating…
Alberta police Long Weekend crackdown results in 3,743 charges, including hundreds of violations for driving without insurance
September 7, 2011 by Canadian UnderwriterAlberta sheriffs and RCMP laid 3,743 charges across the province during the September long weekend, with the second-most frequent violation being driving without insurance or while suspended.Police laid 2,834 speeding violations, as well as 55 hazardous driving violations such as…
First General Services Canada takes over North American First General Service Network
September 7, 2011 by Canadian UnderwriterFirst General Enterprises (Ontario) Ltd., which operates as First General Services Canada, has taken over the management of the entire North American First General Services network, effective immediately.“This acquisition creates a truly unique North American network of restoration contractors,” says…
Death and funeral benefit ranks the most popular optional benefit purchased by Ontario policyholders
September 7, 2011 by Canadian UnderwriterOntario auto insurance policyholders were about four times more likely to purchase the increased death and funeral benefit than any of the other optional benefits offered under the province’s reformed auto insurance scheme.Ontario’s insurance regulator, the Financial Services Commission of…
Insured losses from Texas wildfires to top $100 million
September 7, 2011 by Canadian UnderwriterInsured losses from Labour Day wildfires burning in Texas will surely top $100 million, according to the Insurance Council of Texas. Over the Labour Day weekend, roughly 85 new fires were sparked in the state. Officials had hoped Tropical Storm…
A.M. Best assigns rating to Grain Insurance and Guarantee Company
September 7, 2011 by Canadian UnderwriterA.M. Best Co. has assigned a financial strength rating (FSR) of A (Excellent) to Manitoba-based Grain Insurance and Guarantee Company. Grain Insurance and Guarantee also received an issuer credit rating of “a” from the rating agency. The outlook for both…
ICLR launches mobile Web site
September 7, 2011 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) has launched a new mobile Web site. The site is a “stripped down, simplified and easy to navigate version of the Institute’s main site,” an ICLR release says. The user simply plugs in…
A.M. Best assigns ‘stable’ outlook to Canadian P&C industry
September 6, 2011 by Canadian UnderwriterA.M. Best is maintaining a stable outlook for the Canadian property and casualty industry based the industry’s strong risk-adjusted capitalization in 2010, stable investment income and the doubling of its comprehensive income between 2009 and 2010.But significant challenges for the…
Hurricane Katia’s northeastern track curves away from U.S./Canada
September 6, 2011 by Canadian UnderwriterHurricane Katia is tracking to curve substantially to the northeast, missing North America’s Atlantic Seabord almost altogether.The U.S. National Hurricane Center says Katia, now 590 km south-southwest of Bermuda, has recently weakened to a Category 3 hurricane with maximum sustained…
Aran subsidiary, MiniCo, to offer specialty insurance programs in Canada
September 6, 2011 by Canadian UnderwriterAran Insurance Services Group has announced that its property and casualty subsidiary, MiniCo Insurance Agency LLC, will offer specialty insurance programs in Canada through its new affiliate, MiniCo Insurance Agency of Canada Incorporated. MiniCo’s self-storage product line will be available…
F-0 tornado tears through Quebec community
September 6, 2011 by Canadian UnderwriterAn F-0 tornado touched down in Trois-Rivières, Quebec on Sept 4, damaging more than 70 homes, cbcnews.ca reported. The twister uprooted trees, shattered car windows and damaged roofs when it ripped through the Saint-Therese neighbourhood in the city just after…
Forest fire forces evacuation of Okanagan Valley town
September 6, 2011 by Canadian UnderwriterA forest fire that broke out on Sept. 5 has forced the evacuation of 550 people near Kelowna, B.C., the Globe and Mail reports. The 20-hectare blaze started on the west side of Okanagan Lake and has forced the evacuation…