News
AIA to assume responsibility for I-CAR training in Canada as of May 2010
January 25, 2010 by Canadian UnderwriterThe Automotive Industries Associations (AIA) will officially assume responsibility for I-CAR training in Canada as of May 1, 2010, AIA president Marc Brazeau told delegates at the Canadian Collision Industry Forum (CCIF) on Jan. 23 in Toronto.The Inter-Industry Conference on…
Risk management community loses legislative pioneer
January 25, 2010 by Canadian UnderwriterLloyd Albert Hackett, a prominent member of Canada’s risk management community, passed away on Jan. 20 at the age of 80.Hackett was appointed as the Risk and Insurance Management Society (RIMS)’s first Canadian director of legislative, risk management and public…
Kingsway sells Jevco to Westaim for approximately $263 million
January 25, 2010 by Canadian UnderwriterKingsway Financial Services Inc. (NYSE, TSX: KFS) has agreed to sell all of its outstanding shares of Jevco Insurance Company to The Westaim Corporation (TSX:WED), an investment manager, for approximately $263 million.The acquisition is subject to the receipt of all…
A.M. Best upgrades RSA Group of Canada to ‘A’
January 25, 2010 by Canadian UnderwriterA.M. Best Co. has upgraded the financial strength ratings to ‘A’ (excellent) from ‘A-’ (excellent) of RSA Canada, Quebec Assurance Company and Western Assurance Company. Together, these companies form RSA Group of Canada. The outlook for the ratings is stable.“The…
Ontario court considers whether a judge or jury should hear cases involving multi-accident scenarios
January 22, 2010 by Canadian UnderwriterIs a jury capable of assessing damages in cases involving multi-accident scenarios, overlapping injuries and complicated medical evidence? The Ontario Superior Court was asked to consider the question in Hossny v. Belair Insurance, a complicated case in which an insured…
Janice Tomlinson receives inaugural WICC Lifetime Achievement Award
January 22, 2010 by Canadian UnderwriterJanice M. Tomlinson has received the inaugural Women In Insurance Cancer Crusade (WICC) Lifetime Achievement Award. The former president of Chubb Insurance Company of Canada and co-chair of WICC was presented the award at a retirement event in her honour…
What’s New: In Brief (January 22, 2010)
January 22, 2010 by Canadian UnderwriterThe insurance industry’s resilience during the economic crisis needs to be emphasized in recruitment strategies, BestWeek reported.In an interview with BestWeek, LoriAnn Lowery-Biggers, the president of field operations for Navigators Marine Company Inc., stressed the importance of the industry’s stability…
Economic turmoil drives up securities lawsuit filings by 13%: Advisen
January 22, 2010 by Canadian UnderwriterEconomic turmoil drove a surge in securities lawsuit filings in 2009, according to a new report from Advisen Ltd. “The year saw securities lawsuit filings grow at a robust 13% rate, to 910 suits, eclipsing an already-elevated 2008 at 804…
Extended warranty is not “insurance:” Alberta court
January 21, 2010 by Canadian UnderwriterAn extended warranty is not an insurance contract, the Court of Queen’s Bench of Alberta has decided.“In my view, the distinction between a warranty and insurance is that a warranty covers the risk that the covered product will fail due…
Manitoba Insurance Council re-examining supervision of Level 1 and Auto-only insurance agents
January 21, 2010 by Canadian UnderwriterThe General Insurance Council of Manitoba is currently examining its policy requiring on-site supervision of ‘Level 1’ and ‘Auto Only’ general insurance agents. “Council acknowledges that in today’s technologically advanced environment, it is possible that ‘supervision,’ as required in accordance…
What’s New: In Brief (January 21, 2010)
January 21, 2010 by Canadian UnderwriterHer Majesty Queen Elizabeth II appointed Gregory Belton, chairman of HKMB Hub International, commander of the Royal Victorian Order (CVO). Established in 1896, the Royal Victorian Order is a dynastic order of knighthood and a house of chivalry that recognizes…
What’s New: In Brief (January 21, 2010)
January 21, 2010 by Canadian UnderwriterCatlin Canada now underwrites D&O liability and has appointed Christopher Mutcheson as product manager for the line of business.Mutcheson was most recently employed as the assistant vice president of financial lines for Executive and Risk Services. He has prior underwriting…