News
SCM Adjusters Canada Ltd. acquires Leonard French & Co.
January 25, 2007 by Canadian UnderwriterSCM Adjusters Canada Ltd. has announced the successful completion of an acquisition agreement resulting in Leonard French & Co. Ltd. joining the SCM team. Leonard French & Co was founded in 1977 by Leonard French and more recently, under the…
PartnerRe sees continuing signs of higher retentions
January 25, 2007 by Canadian UnderwriterPartnerRe Ltd. (NYSE: PRE) is reporting a slight decline of premium as of the Jan. 1, 2007 renewal season because insurers are continuing a trend of retaining more risk.PartnerRe has indicated on its Web site that during the Jan.1, 2007…
What’s New: In Brief (January 25, 2007)
January 25, 2007 by Canadian UnderwriterThe Canadian government has picked a substantial amount of the costs associated with insuring the country’s nuclear facilities against terrorist attack, according to the Halifax newspaper, The ChronicleHerald.“The Nuclear Liability Act, passed in 1976, limits liability for damages caused by…
Kernaghan doubles Vancouver Island staff to cope with storms
January 25, 2007 by Canadian UnderwriterKernaghan Adjusters has been forced to double its staff on Vancouver Island in order to keep pace with the claims generated by the recent string of storms that battered the region.Since the first of November, Kernaghan has doubled its staff…
A.M. Best comments on Kingsway’s plan to buy Mendota
January 24, 2007 by Canadian UnderwriterA.M. Best Co.’s issuer credit rating (ICR) of “bbb-” for Kingsway Financial Services Inc. (Kingsway) (Mississauga, Ontario) [TSX/NYSE: KFS] remains unchanged following Kingsway’s announcement that it intends to acquire the Mendota Insurance Company (Mendota), a wholly owned subsidiary of The…
What’s new: In brief (January 24, 2007)
January 24, 2007 by Canadian UnderwriterThe owners of 47,000 vehicles insured through the Aviva Canada group in Nova Scotia will start paying lower automobile insurance rates starting February 1, 2007 according to a press release.Approval has been received by the Nova Scotia Insurance Review Board…
State Farm to resolve Katrina claims
January 24, 2007 by Canadian UnderwriterState Farm will participate in a court supervised resolution process to reconsider and fully resolve claims from Hurricane Katrina in three Mississippi coastal counties, according to a press release.The process is part of an agreement reached through the settlement of…
Kingsway Financial Services to acquire Mendota Insurance Company
January 24, 2007 by Canadian UnderwriterKingsway Financial Services Inc. announced it has reached an agreement to acquire Mendota Insurance Company, a wholly owned subsidiary of the St. Paul Travelers Companies Inc.The transaction includes Mendota’s wholly owned subsidiaries, Mendakota Insurance Company and Mendota Insurance Agency Inc.…
Lloyd’s emphasizes unpredictability of political risk
January 23, 2007 by Canadian UnderwriterDespite the insurance industry’s efforts to predict potential risks with a view to preparing for the worst, political risks remain a highly unpredictable area according to a recent posting on Lloyd’s Web site.Lloyd’s online article, “Preparing for Political Risk,” is…
Toronto police chief committed to ending highway deaths
January 23, 2007 by Canadian UnderwriterMore Canadians will die in car accidents than by any other criminal offence, Bill Blair, Toronto’s chief of police told the Insurance Brokers of Toronto and Region (IBTR). He put the onus on the drivers to take care behind the…
Aon creates Aon Global
January 23, 2007 by Canadian UnderwriterAon has announced the creation of a new business unit to be called Aon Global. Aon Global will consist of the company’s former Global Large Corporate business unit, Captives Services Group, International Risk Management Group (IRMG), Risk Consulting and Risk…
BC announces change to graduated licensing program
January 23, 2007 by Canadian UnderwriterBritish Columbia has announced a change to its graduated licensing program (GLP) that would eliminate the three-month time reduction in the learner stage currently afforded to those who complete an approved course through a designated driver training school.After March 31,…