News
Slave Lake losses partially offset Intact’s strong first-half performance in 2011
August 4, 2011 by Canadian UnderwriterIntact Financial Corporation (TSX: IFC) has reported a net operating income for 2011 Q2 of $95 million, down $24 million from the same quarter of last year. The decrease reflects after-tax losses of $92 million due to the Slave Lake…
RSA Canada reports 20% increase in premiums, underwriting profit in 2011 first-half
August 4, 2011 by Canadian UnderwriterRSA Canada has reported a 20% increase in its net written premiums and underwriting profit in the first half of 2011, compared to its half-year results last year.The company’s combined operating ratio (COR) was 92.1% in the first half of…
Aviva Canada results buoyed by growth in auto premiums and property lines price increases
August 4, 2011 by Canadian UnderwriterAviva plc reported a total operating profit of £1.3 billion (approximately Cdn$2.1 billion), up 5% from last year’s six-month operating profit of £1.2 billion (Cdn$1.9 billion). The total is up 13% excluding impact of an £84-million special distribution benefit in…
Michael Baxter appointed vice president of property at Canadian branch of XL Insurance
August 4, 2011 by Canadian UnderwriterMichael Baxter has been appointed vice president of property of the Canadian branch of XL Insurance Company Limited, part of the insurance underwriting operations of XL Group plc (NYSE: XL).Reporting to Joseph Tocco, head of XL Insurance’s North America property…
Colorado State researchers maintain forecast for active Caribbean/Atlantic hurricane season
August 3, 2011 by Canadian UnderwriterResearchers at Colorado State University’s meteorology project are calling for a “very active” hurricane season in the Caribbean in 2011. Scientists refer to the ‘accumulated cyclone energy’ (ACE) of the region. The ACE is a measure of a named storm’s…
The Co-operators provides funding for emerging co-operatives
August 3, 2011 by Canadian UnderwriterThe Co-operators announced $115,800 in grants to 11 emerging Canadian co-operatives. The funding is provided through The Co-operators Foundation Co-operative Development Program.The following organizations received funding:•Dominion Newspaper Co-operative, $9,000; •Cooperative de travail du College des Hauts Sommets, $15,000;•Ensemble.coop, $10,000;•Funeral Co-operative…
New Brunswick considers rolling its Consumer Advocate for Insurance into a broader utilities regulatory framework
August 3, 2011 by Canadian UnderwriterNew Brunswick is considering the possibility of rolling its Consumer Advocate for Insurance into a broader utilities regulatory framework.A brief discussion of the possibility is included in a July 7, 2011 ‘Status Report’ on the province’s current review of New…
FSCO revises arbitration forms to require email addresses, issues new rules for use of electronic calendar system
August 3, 2011 by Canadian UnderwriterThe Dispute Resolution Services (DRS) section of the Financial Services Commission of Ontario (FSCO) has issued a new bulletin amending arbitration forms and outlining new rules for the use of an electronic calendar system for use in arbitrations.The DRS eCalendar…
Ontario establishes Auto Insurance Anti-Fraud Task Force
August 2, 2011 by Canadian UnderwriterOntario’s newly created Auto Insurance Anti-Fraud Task Force will be examining the scope of auto insurance fraud in Ontario and is expected to make final recommendations to the government in Fall 2012.The recommendations will address prevention, detection, investigation, enforcement and…
John O’Donnell named president and CEO of Allstate Canada
August 2, 2011 by Canadian UnderwriterJohn O’Donnell has been appointed president and CEO of Allstate Canada Group of Companies and its affiliates.O’Donnell succeeds Chris Kiah, who has returned to parent company Allstate Corporation in Northbrook, Illinois, to work on a variety of projects supporting Allstate…
ClaimsPro completes acquisition of Brouwer Claims Canada
August 2, 2011 by Canadian UnderwriterClaimsPro Inc., a Canadian independent adjusting company, has completed the acquisition of Brouwer Claims Canada & Co. Ltd., a Vancouver-based independent adjusting firm that has been servicing Canadian clients for more than 25 years. The transaction aligns with ClaimsPro’s strategy…
FirstOnSite appoints new directors to its Western team
August 2, 2011 by Canadian UnderwriterFirstOnSite Restoration has beefed up its Western leadership team with the appointment of two new directors. Scott McFie is now director of commercial business development in Western Canada. McFie recently served as senior vice president of international business development and…