News

CARSTAR Automotive Canada recently sponsored the solar-powered car dubbed Soleon engineered by students at the University of Calgary which will competed in the North American Solar Challenge race starting in Austin, Texas on July 17 and ending in Calgary on…

A recent online survey of 1,000 drivers finds the majority of drivers believe common car insurance myths to be true, according to U.S.-based insurer Drive Insurance from Progressive. The survey found myths drivers believe include: * 25% drivers believe insurers…

Everest Re Group, Ltd. (NYSE: RE) recently reported second quarter 2005 after-tax operating income, which excludes realized capital gains and losses, of $173.3 million, or $3.03 per diluted share, a nominal decrease compared to $174.4 million, or $3.07 per diluted…

Investigators from Alberta are probing allegations that a Whitehorse insurance broker stole clients’ money, leaving approximately 30 Yukon Territories Insurance Solutions policyholders dealing without the insurance coverage they paid for, according to Yukon government officials.The Yukon government’s supervisor of insurance…

The Securities and Exchange Commission recently served RenaissanceRe Holdings Ltd. chairman and chief executive James N. Stanard a “Wells” notice, initiating a civil enforcement action against Stanard for allegedly violating U.S. securities laws.The Bermuda-based reinsurer’s accounting and use of finite…

Manitoba Public Insurance recently initiated an incentive program, promoting the Immobilizer a small computer connecting a car’s ignition system and acting as a safeguard against theft by preventing the engine from starting unless a code or key is used. The…

The 9th U.S. Circuit Court of Appeals in San Francisco recently ruled that an employer who refused to refer to a staff member by his actual Arabic name is liable for employment discrimination. The three-judge panel unanimously affirmed a district…

Royal Bank of Canada Insurance Company Ltd.’s financial strength rating of A (Excellent) and its issuer credit rating of “a+” has recently been affirmed by A.M. Best. Both ratings have a stable outlook. According to A.M. Best, these ratings reflect…

In nine days, changes to the Consumer Protection Act will introduce some extremely tough and comprehensive changes to Ontario consumer protection laws, according to Government Services Minister Gerry Phillips.The Act effective July 30 is replacing the original laws passed in…

The second quarter of 2005 continues to see a softening of the commercial p&c industry, according to the Commercial Property/Casualty Market Index sponsored by the Council of Insurance Agents and Brokers this is evidenced by an increase in competition for…

A recent court ruling by the California Supreme Court indicates that a supervisor can be sued for sexual harassment if they show favoritism toward employees whom they have a sexual relationship with. In Edna Miller vs. Department of Corrections, the…

In lieu of its recent push to convince the federal government to pass a reform allowing banks increased rights to sell insurance directly through branches, the Royal Bank of Canada recently used its 11-page submission to reiterate what it sees…