News

In response to growing concerns about the threat of identity theft, The Co-operators announced it has extended identity theft coverage to clients with home or farm insurance. The new coverage reimburses clients for up to Cdn$10,000 of costs associated with…

Reinsurance rates on line for personal lines, standard commercial lines and complex commercial lines in Canada are likely to be flat or up to 10% lower during mid-year renewals of property catastrophe reinsurance programs, Aon Re Global predicts.Additionally, Aon Re…

Fairfax Financial Holdings Limited (TSX and NYSE: FFH) announced that it has entered into an agreement to purchase 1,031,090 subordinate voting shares of Cunningham Lindsey Group Inc. from a group of third party investors.The Cunningham Lindsey shares will be acquired…

A new Bermuda market, reputation challenges to the industry and reserve deficiencies are among 10 major changes that Mike Wills, president of Catlins Canadian operations, said hes witnessed in the insurance industry.Wills was speaking at the Ontario Risk and Insurance…

Plaintiff lawyers are increasingly trying to convince the courts of specific damages, which used to be part of general damages, in a bid to get damage amounts above and beyond the cap on non-pecuniary damages, people attending the Ontario Risk…

ACE Canada, the Canadian based operating division of the ACE Group of Companies, has appointed Terri Mitchell as executive vice president and chief operations officer of ACE Canada’s Life, Accident and Health Group.Mitchell joined ACE Canada in 2004 as vice…

AXIS Capital (NYSE: AXS), a global specialty commercial property and casualty insurer and reinsurer, has agreed to acquire from AON Underwriting Managers the assets and operations of Media/Professional Insurance (Media/Pro), a managing general underwriter specializing in professional liability lines of…

Fitch Ratings has upgraded Lloyd’s of London’s (“Lloyd’s”) Insurer Financial Strength (“IFS”) rating by one notch to ‘A+’.At the same time, the agency has upgraded the Society of Lloyd’s Issuer Default rating (“IDR”) by one notch to ‘A’. Both ratings…

A growing lack of critical talent in Torontos financial services sector looms, according to a year-long study of the industry by the Toronto Financial Services Alliance (TFSA).Talent Matters A Study of the Toronto Financial Service Industry Talent Market found that…

ING Canada (TSX:IIC) has just purchased for cancellation just over Cdn$500 million of its common shares.More than C$500 million worth of ING Canadas common shares were tendered to a bid. Since the auction process was oversubscribed, ING announced in a…

The Dominion of Canada General Insurance Company has teamed up with Guidewire Software to modernize and replace The Dominions existing legacy claims system in order to better serve the needs of its policyholders and its network of independent brokers. The…

Reporting an event or “circumstance that might lead to a professional liability insurance claim is not, in the absence of a claim, enough to trigger an insurer’s obligation to defend, the B.C. Appeal Court has ruled.In MWH International, Inc. v.…