Canadian Underwriter

News


News Insurance

What’s New: In Brief (December 22, 2009)

December 22, 2009 by Canadian Underwriter

Aviva Canada Inc. has posted on YouTube its Top 25 finalists for the first-ever Aviva Community Fund online contest.Aviva is putting up Cdn$500,000 to help fund ideas that seek to lead, empower and support positive change in Canadian communities.  After…

News Insurance

Reinsurers’ underwriting results in first half of 2009 were better than expected: Aon Benfield

December 22, 2009 by Canadian Underwriter

Reinsurer underwriting results were better than expected due to the unusually low level of natural catastrophes in the third quarter, according to the Aon Benfield Aggregate (ABA) quarterly report. Net income for the 23 global reinsurers analyzed in the report…

News Insurance

Focusing on HR aspect of M&A could improve deal’s outcome: Towers Perrin

December 21, 2009 by Canadian Underwriter

Those companies that place an emphasis on the ‘people’ aspect of a merger and acquisition are more likely to have a successful deal, research from risk management firm Towers Perrin suggests. Towers Perrin surveyed more than 400 senior HR and…

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (December 21, 2009)

December 21, 2009 by Canadian Underwriter

Cunningham Lindsey has launched Cunningham Lindsey Research Services (CLRS).CLRS provides intelligence gathering, special investigations and surveillance services to assist in the adjudication of insurance claims.“From researching background information and verifying details, to gathering video surveillance and conducting interviews, the services…

News InsuranceMergers and Aqcuisitions

Fraudulent pink insurance slip supplied by fraudster not enough to establish accident benefits: FSCO

December 21, 2009 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has identified at least one instance in which a fraudulent pink insurance slip does not represent enough of a “nexus” between an insured and an insurance company to trigger an accident benefits payout.…

News InsuranceLegal

IMAX decision in Ontario lowers threshold for proceeding with a civil action for secondary market liability

December 21, 2009 by Canadian Underwriter

Ontario’s Superior Court in IMAX has established a “relatively low” threshold to be met by plaintiffs seeking leave to proceed with a civil action for secondary market liability, according to Ogilvy Renault.The decision provides the first judicial interpretation of leave…

News Insurance

McLarens Canada announces executive appointments

December 18, 2009 by Canadian Underwriter

McLarens Canada has announced two executive level appointments. Dennis N. Schembri has been promoted to executive vice president, Eastern Canada of McLarens Canada and Donald N. Hull has been promoted to vice president, Ontario Region of McLarens Canada.Holding 26 years…

News InsuranceMarkets / Coverages

Aon report shows 2.7% decrease in D&O liability pricing in 2009 Q3

December 18, 2009 by Canadian Underwriter

Pricing for directors’ and officers’ liability insurance decreased 2.7% in 2009 Q3 compared to the rates seen in the same quarter of 2008, according to Aon’s Q3 Quarterly D&O Pricing Index. In Standard & Poor’s financial institutions (FI) sector, D&O…

News Insurance

Marsh to acquire HSBC Insurance Brokers Ltd.

December 18, 2009 by Canadian Underwriter

Marsh has reached an agreement to acquire HSBC Insurance Brokers Ltd (HIBL), a wholly owned subsidiary of HSBC Bank. Under the terms of the agreement, Marsh will acquire HIBL in consideration of £135 million, comprising a mixture of Marsh &…

News InsuranceLegal

Proposed U.S. bipartisan bill would prohibit banks from engaging in insurance activities

December 18, 2009 by Canadian Underwriter

U.S. Senators Maria Cantwell (D-WA) and John McCain (R-AZ) have introduced a bipartisan bill that would prohibit U.S. commercial banks from engaging in all insurance activities, as well as prevent them from affiliating with investment banks. Essentially, the proposed bill…

News InsuranceLegalMergers and Aqcuisitions

IBC to work with Alberta on improving auto product, now that minor injury cap is upheld

December 17, 2009 by Canadian Underwriter

The Insurance Bureau of Canada says the Supreme Court of Canada’s refusal to hear an appeal against the province’s Cdn$4,000 minor auto injury cap is “good news for Alberta motorists,” and will open the door for a future review of…

News InsuranceLegalMergers and Aqcuisitions

Supreme Court’s refusal to hear appeal efectively upholds Alberta’s Cdn$4,000 cap on minor auto injuries

December 17, 2009 by Canadian Underwriter

The Supreme Court of Canada has upheld Alberta’s Cdn$4,000 cap on minor auto injuries.By refusing to hear any further appeal of the Alberta Court of Appeal’s decision, which  found the province’s cap on minor auto injuries was constitutional, Canada’s top…