News
Happy Holidays from the staff of Canadian Underwriter
December 21, 2007 by Canadian UnderwriterThe staff of Canadian Underwriter would like to wish everyone a happy, healthy and safe holiday season, and best wishes in the New Year! This is the last installment of Canadian Underwriter’s Daily News for 2007. We will resume with…
Marsh & McLennan looks for new CEO, as Cherkasky steps down
December 21, 2007 by Canadian UnderwriterThe board of directors at Marsh & McLennan Companies Inc. is on the hunt for a CEO to replace Michael G. Cherkasky. Cherkasky has served as president and CEO of the company since 2004 and will continue to serve as…
What’s New: In Brief (December 21, 2007)
December 21, 2007 by Canadian UnderwriterWhat’s New: In Brief York Fire and Casualty Insurance Company has launched a manufacturer connection product aimed at the U.S. market, the latest in a collection of commercial product offerings. “The Manufacturing Connection product is designed to cover a wide…
What’s New: In Brief (December 21, 2007)
December 21, 2007 by Canadian UnderwriterPilot Insurance Company has signed on to a Cdn$120,000, three-year financial commitment to OSAID (Ontario Students Against Impaired Driving), an association organized and run by high school students to increase awareness about the perils of impaired driving.As well, Pilot will…
S&P’s affirms A+ rating for Aviva Canada subsidiaries
December 21, 2007 by Canadian UnderwriterStandard & Poor’s Ratings Services has assigned an ‘A+’ financial strength rating to S&Y Insurance Co., and affirmed its A+ financial strength rating for other Aviva Canada subsidiaries.The rated subsidiaries include Aviva Insurance Co. of Canada, Elite Insurance Co., Pilot…
B.C. court says ICBC fails onus to prove fraud allegations
December 20, 2007 by Canadian UnderwriterThe Insurance Corporation of British Columbia (ICBC) failed to prove an insured tried to defraud the corporation by faking the theft of his minivan, and B.C.’s provincial court ordered the public insurer to allow the claim. In Brummitt vs. ICBC,…
What’s New: In Brief (December 20, 2007)
December 20, 2007 by Canadian UnderwriterPPG Canada Inc. and the CertifiedFirst Network have announced a platinum level sponsorship renewal of WICC (Women in Insurance Cancer Crusade). In the first three years of sponsorship of WICC, PPG worked closely with WICC and attended several key events…
Wendy Baker resigns as president of Lloyd’s America Inc.
December 20, 2007 by Canadian UnderwriterWinifred “Wendy” Baker, who in 1990 became the first woman to lead a reinsurance company, will step down after nine years as president of Lloyd’s America Inc. at the end of December 2007, A.M. Best has reported.Baker managed Lloyd’s offices…
What’s New: In Brief (December 20, 2007)
December 20, 2007 by Canadian UnderwriterGiffin Koerth has added two new engineers to the roster James Wheeler and Val Chlistovsky. “Both gentlemen bring our property division strong expertise and continue to fulfill Giffin Koerth’s desire to always improve our level of service to the insurance,…
Kingsway reports reserve increase at Lincoln General subsidiary
December 19, 2007 by Canadian UnderwriterKingsway Financial Services Inc. [KFSI] has reported a reserve increase at its Lincoln General subsidiary in 2007 Q4.“Following further review of trends in claims development at its Lincoln subsidiary, including the updated indications provided by the company’s external appointed actuary,…
What’s New: In Brief (December 19, 2007)
December 19, 2007 by Canadian UnderwriterThe 2008 edition of the Ontario General Insurance Hockey Tournament will run Apr. 18-20, 2008 in Fort Erie/Welland, with proceeds going towards Big Brothers and Big Sisters.Big Brothers and Big Sisters [B.B.B.S] operate Camp McGovern, a camp established in 1971…
Theft rings increasingly targeting luxury vehicles
December 19, 2007 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) says its investigations over the past few years illustrate an alarming trend in Canada of organized auto theft rings targeting high-end or desirable vehicles with the intention of exporting them overseas or chopping them…