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Canadian Underwriter magazine launches new insurance careers website: i-hire.ca

July 6, 2005 by Canadian Underwriter

A new website slated to quickly and effectively pair up insurance industry job seekers and employers was recently released by Canadian Underwriter Magazine. i-hire.ca is, according to Canadian Underwriter’s senior publisher Steve Wilson, "Canada’s Insurance Career Destination," offering the insurance…

News Insurance

Elliott Special Risks partners with Newport Private Yield

July 5, 2005 by Canadian Underwriter

Elliott Special Risks recently entered into a partnership with Newport Private Yield LP.Through this partnership, Newport is acquiring an ownership interest in the company, however senior management will continue to own a significant interest and maintain operational control and responsibility…

News Climate ChangeInsurance

BC owners demand fair compensation following watery crash

July 5, 2005 by Canadian Underwriter

A mechanical fault in a 7,000-tonne BC-based ferry, recently caused the vessel to loose power and subsequently crush approximately 22 boats in the Horseshoe Bay ferry terminal in West Vancouver, according to Transportation Safety Board investigators. BC Ferries are now…

News Climate ChangeInsuranceMergers and Aqcuisitions

Tropical storm warnings mark hurricane season’s second month

July 5, 2005 by Canadian Underwriter

Tropical storm Cindy the third named storm of the Atlantic hurricane season recently formed and is set to hit the coast of Louisiana coast. The National Hurricane Center in Miami expects Cindy may strengthen before hitting Louisiana, well exceeding it’s…

News InsuranceMergers and Aqcuisitions

More Canadians are buying cars

July 5, 2005 by Canadian Underwriter

In June, Canadian sales of cars and light trucks jumped 7.3%.Sales advanced from the previous year’s figure of 150,432 to 161,413, according to DesRosiers Automotive Consultants Inc. Sales for the first and second quarter of 2005 combined, showed an increase…

News Insurance

Canadian Underwriter Web Poll: June results

July 5, 2005 by Canadian Underwriter

Approximately one third of members of the insurance industry expect that insurers will not be able to keep up their current monetary status thorough the underwriting discipline. The Canadian Underwriter Web Poll for June asked “Moving ahead throughout 2005, do…

News Insurance

Trucks damaging Saskatchewan highways pay more

July 5, 2005 by Canadian Underwriter

Vehicle registration for Saskatchewan farmers operating heavy trucks is set to increase by September 1, 2005. These government insurance fees are being re-balanced to address the damage heavy vehicles cause to highways and they will fluctuate to reflect the damage…

News Insurance

Swiss Re economists note profit potential of underwriting discipline

July 4, 2005 by Canadian Underwriter

The Federal Reserve will continue to raise interest rates, pushing the federal funds rate to 4.5% by the middle of 2006 in lieu of the anticipated modest rise in inflation and firm economic growth, according to Swiss Reinsurance’s chief economist…

News Insurance

Brokerage clients told to stave signing agreement

July 4, 2005 by Canadian Underwriter

Marsh & McLennan Cos. Inc. clients were recently advised by Massachusetts Attorney General Thomas F. Reilly to wait until they accept restitution from the Marsh & McLennan in accordance with its $850 million settlement with New York Attorney General Eliot…

News Insurance

PACICC members to receive total of $19.8 million in dividends

July 4, 2005 by Canadian Underwriter

The Property and Casualty Insurance Compensation Corporation (PACICC) recently implemented measured to begin refunding dividends totaling $19.8 million to its member companies. PACICC recovered these funds through insurance company liquidations. The dividends PACIC is refunding stem from six of the…

News Climate ChangeInsurance

Insurers may lose terrorist protection

June 30, 2005 by Canadian Underwriter

The U.S. Treasury Department recently released a report on the state of terrorism suggesting the Terrorism Risk Insurance Act (TRIA) should not be extended in its present form.Treasury secretary John Snow says, in a letter concurrent with the reports recent…

News Insurance

Sun Life’s financial strength and debt ratings affirmed by A.M. Best

June 30, 2005 by Canadian Underwriter

Sun Life Assurance Company of Canada and its primary subsidiaries Sun Life Assurance Company of Canada and Sun Life Insurance and New York-based Annuity Company recently received affirmation from A.M. Best regarding a financial strength rating of A++ (Superior). A.M.…