Canadian Underwriter


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Hub completes purchase of PLI

October 3, 2005 by Canadian Underwriter

Chicago-based Hub International Limited (NYSE/TSX:HBG) has completed its purchase of Personal Lines Insurance Brokerage Inc. (PLI) from The Chubb Corporation.The acquisition expands Hub’s position in personal insurance across most of the United States and grows personal lines to nearly 20%

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Peel Maryborough Mutual joins CSIO

September 30, 2005 by Canadian Underwriter

Peel Maryborough Mutual Insurance Company has become the 40th property and casualty insurance company to become a member of the Centre for Study of Insurance Operations (CSIO).CSIO is Canada’s national standards association of property and casualty insurance companies, broker management

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IBC seeks tougher penalties for auto theft

September 30, 2005 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) is hailing Canadian Attorney General Irwin Cotler for introducing new legislation to help curb organized auto theft, while at the same time calling on Canada’s department of justice to impose tougher penalties.“We are encouraged

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Marsh finds 70,000 policyholders eligible for compensation

September 28, 2005 by Canadian Underwriter

New York’s Marsh & McLennan Companies, Inc. (MMC) has received a response from 70,000 policyholders eligible to participate in the compensation fund MMC established as part of its settlement with the New York Attorney General and Superintendent of Insurance in

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Aon sells Swett & Crawford (September 23, 2005)

September 23, 2005 by Canadian Underwriter

Aon Corporation (NYSE: AOC) recently signed a definitive agreement to sell Swett & Crawford, its U.S.-based wholesale broking operation, to an investor group including Hicks, Muse, Tate & Furst Inc. (HMTF), Banc of America Capital Investors and Emerald Capital. A

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NAIC adopts Marsh settlement (September 22, 2005)

September 22, 2005 by Canadian Underwriter

Working collaboratively through the National Association of Insurance Commissioners (NAIC), over 30 state insurance regulators recently adopted a multi-state regulatory settlement with Marsh & McLennan Cos. Inc. The settlement agreement will ensure that Marsh implements the compensation and disclosure reforms

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IBAC to hold inaugural Best Practices Symposium

September 16, 2005 by Canadian Underwriter

The Insurance Brokers Association of Canada (IBAC) will be holding its first-ever National Best Practices Symposium on October 18-19, 2005, in conjunction with the IBAO Convention at the Royal York Hotel, Toronto.“The Best Practices Management Institute features sessions by knowledgeable

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SEC subpoenas documents from Fairfax

September 7, 2005 by Canadian Underwriter

Fairfax Financial Holdings Limited (TSX:FFH.SV)(NYSE:FFH) has received a subpoena from the U.S. Securities and Exchange Commission (SEC), requesting documents regarding nontraditional insurance/reinsurance transactions made or products offered by entities of the Fairfax group.Fairfax says it is cooperating with the SEC

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Hub Announces Fold-In Acquisition Of Innovators Insurance Agencies

September 1, 2005 by Canadian Underwriter

Hub International Limited (NYSE/TSX: HBG) today announced the fold-in acquisition of The Innovators Insurance Agencies Ltd. (Innovators) by its regional hub, Hub International Barton Limited (HUB Barton), which services British Columbia, Canada. Innovators operates primarily in the Kootenay Region of

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Canada focus of Willis strategy

August 30, 2005 by Canadian Underwriter

Global insurance broker Willis Group Holdings (NYSE: WSH) recently announced plans to deliver on its Client Advocate Model across Canada and thus increase market share and revenues in this region. In lieu of this plan Willis will relocate its regional

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Aon and Willis lead the broker comeback

August 18, 2005 by Canadian Underwriter

In the wake of recent investigations into contingency commissions and bid rigging initiated by New York Attorney General Eliot Spitzer, brokers Aon Corp. and Willis Group Holdings Ltd. have managed to successfully restructure their business practice and successfully pull themselves

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Marsh & McLenan Cos settles antitrust violation

August 16, 2005 by Canadian Underwriter

Marsh & McLennan Cos. Inc. (MMC) recently came to a settlement with the District of Columbia Attorney General Robert J. Spagnoletti regarding investigations into potential antitrust violation.These antitrust investigation, looked into whether Marsh had been part of the bid-rigging scandals.Under