News

Lloyd’s of London, a specialist insurance market, has reported a pre-tax profit of $942 million in the first half of 2010, down from a first-half profit of roughly $2 billion in 2009. Lloyd’s combined ratio (COR) in the first half…

Aggressive U.S. plaintiff firms are slowly creeping their way into Canadian securities class action suits, warned Jay A.R. Cassidy, a senior vice president at Marsh in Toronto.Cassidy addressed delegates at the 2010 RIMS Canada conference in Edmonton on Sept. 28…

Axa has launched an application, Axa Mobile, designed for use on the iPhone.In the event of an auto accident, the application lets Axa insureds report their claims immediately, record spoken comments and document the event by providing details and photographs,…

Desjardins General Insurance launched a contest in which it will award a grand prize of $10,000 and donate $10,000 to a charity selected by the grand prize-winner.To enter the ‘Win for You-Win for your Cause’ contest, individuals must request an…

European regulators are engaged in a “failure of common sense,” by crafting regulations to prevent a re-run of the financial crisis instead of focusing on strategies to promote the economic growth of the financial sector, Lloyd’s of London chairman Lord…

The Queen’s Bench for Saskatchewan has upheld an insurer’s policy that excludes coverage for vandalism on a “vacant” property, despite the policyholders’ claim the policy remained in force because he had told the insurer about the vacancy within the 30-day…

Plaintiff counsel in security class action suits are increasingly using the defendant’s level of D&O insurance as a settlement negotiation point before obtaining leave by court, said Jay A.R. Cassidy, a senior vice president at Marsh in Toronto. Cassidy was…

New Brunswick’s new provincial government is expected to move quickly on its mandate to review the province’s $2,500 cap on minor auto injuries.In a landslide majority, the Progressive Conservative Party of New Brunswick, led by David Alward, won the provincial…

Compu-Quote has issued a second release of iClarify validation services for Ontario brokers, which includes an enhancement of risk address selection and searching that has improved the service for rural brokers.“During the past 90 days or so we have studied…

Jardine Lloyd Thompson Canada, an insurance and risk management service provider, has entered into an agreement with Manic Marketing Inc. (MMI) to provide DisasterPhone to the Canadian public entity market. DisasterPhone is a customized, private labeled version of CatastroPhone, a…

On Side Restoration Services Ltd. of Vancouver, B.C. has acquired Stay Kleen Services and Contracting Ltd. of Markham, Ontario. The acquisition represents On Side’s first entry into the Ontario restoration market. The company will operate as Stay Kleen, a division…

Municipal and provincial governments are increasingly using public-private partnerships (P3s) as risk transfer mechanisms to build infrastructure, delegates of the RIMS Canada Conference in Edmonton heard.Chris Baisley of Deloitte Touche in Calgary, Alberta explained that P3 projects are much more…