News

Crawford Adjusters Canada has shuffled their staff with three major appointment announcements.Debbie Laxton will assume the role of head office supervisor for the company’s accident benefits division, Lise Papillon will take the reins of Crawford’s Quebec operations, and Troy Quigley…

A.M. Best Co. has upgraded the financial strength rating of Arch Reinsurance Ltd. (Arch) (Bermuda) and its reinsured affiliates, including Arch Insurance Company (Canada), the only Canadian-licensed Arch entity, to A from A-.The outlook on the rating is stable.A.M. Best…

Changes to Nova Scotia’s graduated driver licensing (GDL) program that would include a strengthening of the blood alcohol content restriction on new drivers and an extension of the learner’s stage of the program has gained applause from the Insurance Bureau…

“Model steward” positions should be created within organizations to better align actuarial and IT departments, according to the Insurance and Actuarial Advisory Services (IAAS) practice of Ernst & Young LLP.Both actuarial and IT departments are critical in conducting companies’ risk…

This holiday season, more than 1,600 volunteers across New Brunswick participated in Operation Red Nose and ensured more than 1,900 revelers a safe ride home.“Operation Red Nose makes New Brunswick’s road safer during the holiday season,” said Don Forgeron, vice-president,…

The ACE Tempest Re Group has expanded into Canadian markets with the establishment of ACE Tempest Re Canada.The Montreal-based, wholly owned managing underwriter will write all lines of property and casualty reinsurance for the Canadian market.Constantin Petalas has been appointed…

Attendant care hourly rates in SABS are fixed by legislation and therefore cannot be changed by means of litigation, the Ontario Court of Appeal confirmed in a recent decision.Siding with the insurer in McEwen v. ING Halifax Insurance Company, the…

BCAA reported more than five-times the normal wind-related claim rate throughout November and December following the string of storms that pummelled the Pacific Northwest.During the two-month period the firm received nearly 600 claims of this nature with an average cost…

Canadian insurers are increasingly seeking the services of external or unaffiliated actuarial firms to provide actuarial options for annual statutory filings, says an A.M. Best Co. review.“This is perhaps the most striking change in the data gathered as part of…

The Financial Services Commission of Ontario (FSCO) has released updated filing guidelines for submitting changes to automobile insurance rates and risk classification systems.One change is that insurers will be required to use the major filing guidelines in situations in which…

As a response to misconceptions in the public domain about automobile insurance rates, the Insurance Bureau of Canada has launched a report aimed at increasing the general population’s understanding. The report reviews the costs of auto insurance from 2000 until…

BB&T Corporation has completed its acquisition of AFCO Credit Corporation, an insurance premium finance company, and its Canadian affiliate, CAFO Inc., from Mellon Financial Corporation.The move is expected to elevate BB&T from the ninth-largest provider of insurance premium financing in…