News
H1N1 may spark demand for travel cancellation insurance
May 14, 2009 by Canadian UnderwriterThe demand for trip cancellation coverage seems likely to increase as the threat of H1N1 flu continues to plague travellers. The Travel Health Insurance Association (THIA) is urging Canadians who are planning international trips to protect their health and travel…
Ephemeral nature of electronic media can both expand, reduce exposure to liability
May 13, 2009 by Canadian UnderwriterThe ephemeral nature of electronic media is a double-edged sword, in that it can both expand and limit exposure to media liability, a prominent media lawyer told a PLUS Canadian Chapter educational seminar in Toronto.In terms of expanding liability exposure,…
M&A activity likely, but only for smaller brokerages
May 13, 2009 by Canadian UnderwriterMerger and acquisition activity appears likely to heat up within Canada’s insurance brokerage marketplace, but it’s unlikely the activity will involve larger brokerages, Eric Andersen, CEO of Aon US Retail, said in an Advisen Webinar on May 13.In an earlier…
What’s New: In Brief (May 13, 2009)
May 13, 2009 by Canadian UnderwriterParis Re Holdings Limited has reported an IFRS net income of US$118.6 million for 2009 Q1, compared to an IFRS loss of US$129.5 million in 2008 Q1. The combined ratio for the quarter was 92.2%, compared to 93.3% for 2008…
ING Canada reports Cdn$36.3-million loss in 2009 Q1
May 13, 2009 by Canadian UnderwriterING Canada Inc reported a net loss of Cdn$36.3 million in 2009 Q1, compared to a net gain of Cdn$23 million in 2008 Q1.The company cited home insurance results as a major contributor to the loss.“Our operating performance continued to…
Insurer’s duty to defend is broader than duty to indemnify: Ontario court
May 12, 2009 by Canadian UnderwriterThe Ontario Superior Court has ruled that an insurer has a duty to defend an insured even when the conduct of the claimant — specifically, whether that conduct was illegal — is at the heart of the issue of whether…
Catastrophe severity will affect pace of hardening market in 2009: Advisen
May 12, 2009 by Canadian UnderwriterThe severity of the 2009 catastrophe season is a wild card in determining the speed at which the commercial insurance market will harden this year, says a recent briefing by Advisen, ‘The Insurance Market in 2009: A Market Poised for…
What’s New: In Brief (May 12, 2009)
May 12, 2009 by Canadian UnderwriterThe Saskatchewan Mutual Insurance Company (SMI) is continuing its investment as a full partner of the Insurance Brokers Association of Canada (IBAC)’s Broker Identity Program.“SMI is pleased to continue its support of the Broker Identity Program,” Laura Wiebe, president and…
What’s New: In Brief (May 12, 2009)
May 12, 2009 by Canadian UnderwriterWinmar Franchise Corp. has opened a new franchise in Medicine Hat, Alberta located at 1275 Brier Park Way NW.Brian and Sharon Schwieger have owned and operated Desert Restoraton Services since 2007, servicing Medicine Hat, Brooks and all surrounding areas. Brian…
Nova Scotia NDP would scrap auto injury cap; replace with a deductible
May 11, 2009 by Canadian UnderwriterThe NDP in Nova Scotia has dragged auto insurance into the province’s current political campaign, promising to scrap the existing Cdn$2,500 cap on insurance payments for minor auto injuries and replacing it with some form of deduction instead.Nova Scotia NDP…
Standard business interruption coverage not well-equipped to handle H1N1: Marsh
May 11, 2009 by Canadian UnderwriterInfluenza A (H1N1) could result in significant disruptions to the operation of a business, but there are few instances in which a standard business interruption policy will provide coverage, according to a recent Marsh report, Influenza A (H1N1) — Business…
What’s New: In Brief (May 11, 2009)
May 11, 2009 by Canadian UnderwriterRichard Hoskins has been appointed executive vice president and CFO of the North American region or Aviva North America effective May 11. Aviva’s North America region includes its U.S. life and annuity business and Canadian property and casualty company.Hoskins previously…