News

Insurance premiums for directors and officers are on the rise as annual D&O insurance premiums for the Canadian Spencer Stuart Board Index (CSSBI) leading 100 Canadian companies has increased by 26% over last year, reaching an average of $1,613,361 a…

Pricing of property and marine lines experienced major changes as a result of the record storm activity of 2005 however, casualty and accident and health lines were predominantly spared, according to Guy Carpenter & Company’s report titled “U.S. Reinsurance Renewals…

Montpelier Re Holdings Ltd. (NYSE: MRH) recently raised $100 million through a private sale of trust preferred securities. The trust preferred securities were issued by Montpelier Capital Trust III a newly formed statutory trust that is wholly-owned by the Company.…

The U.S. P&C industry experienced an underwriting loss of US$2.8 billion through September 2005, down from the US$13.3 billion profit resulting from the first six-months of 2005 , according to a recent study by A.M. Best Co. Although the insurance…

Echelon General Insurance Company, a wholly-owned subsidiary of EGI Financial Holdings Inc. (TSX: EFH), has entered the Ontario motorcycle insurance market with a $5 million brokerage agreement with Riders Plus Insurance.Riders Plus, the Ontario-based motorcycle insurance brokerage, will place $5…

The majority of sports utility vehicles and pickup trucks do not provide adequate protection for passengers in the instance of rear-end collisions, according to a crash test conducted by the Insurance Institute for Highway Safety.The new crash test results, which…

This holiday season, more than 6,500 Ontarians were driven home by Operation Red Nose – a volunteer designated-driver service for holiday partiers.“That’s 6,500 occasions where someone was at risk of drinking and driving but made the smart choice instead,” Mark…

Anthony Clark International Insurance Brokers Ltd. (TSE: ACL) recently negotiated a settlement to all of the outstanding legal actions with DKWS Enterprises Inc., John Kabaker and the Kabaker Family Trust of July 2, 1998.The negotiated settlement includes a dismissal of…

Willis Group Holdings (NYSE:WSH) recently released its reinsurance review of the marketplace for the January 1, 2006 renewals, which indicates key findings including rate movements and territory and class line commentary.The report, published by Willis Re, indicates that specialty lines…

The Canadian Council of Insurance Regulators (CCIR) is circulating a consultation paper that discusses giving insurers privilege over self-assessment documents and providing protection for whistle-blowers.The document discusses the value of moving towards risk-based regulation, in which “more supervisory attention” is…

Insurance Systems Inc. (ISI), a provider of web-based solutions to the global property and casualty insurance industry, today announced the sale of WebWriter Inspection to The Wawanesa Mutual Insurance Company headquartered in Winnipeg, Manitoba.“Wawanesa is one of Canada’s leading insurers,”…

Hub International Limited (NYSE/TSE: HBG) recently sold its Talbot Financial hub in an undisclosed transaction to a buyout group, which includes four members of management. San Francisco-based Talbot Financial, one of four hubs created after the acquisition of Talbot from…