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Desjardins changes names of services distribution networks

December 6, 2006 by Canadian Underwriter

Desjardins Financial Security is changing the name of the entities of its financial products and services distribution networks in Canada. The 20 LFS Laurentian Financial Services centres that distribute insurance and savings products through nearly 450 representatives will be doing

News Insurance

HKMB to acquire Morris & Mackenzie’s Toronto/Vancouver offices

December 6, 2006 by Canadian Underwriter

HKMB International Insurance Brokers, a privately held commercial insurance broker, has entered into an agreement to acquire the Toronto and Vancouver operations of Morris & Mackenzie Inc.HKMB hopes to integrate both offices into its own during 2007 Q1.“The acquisition of

News Insurance

Binks Insurance Brokers of Ottawa spins off tech division

December 5, 2006 by Canadian Underwriter

[EDITOR’S NOTE: Please note that the following news brief about Binks Insurance Brokers of Ottawa contains information that has been clarified after a previous posting. The editor regrets any confusion the initial posting may have caused.] Binks Insurance Brokers of

News InsuranceMergers and Aqcuisitions

New Brunswick, insurers agree on 13.5% rate decrease

December 4, 2006 by Canadian Underwriter

The government of New Brunswick has come to an agreement with the province’s insurance industry that will see premiums drop an average of 13.5% by Mar. 1, 2007.As promised in Premier Shawn Graham’s Charter for Change, the plan involves eliminating

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (December 01, 2006)

December 1, 2006 by Canadian Underwriter

Kingsway Financial Services has selected the Progress EasyAsk natural language query and reporting technology for use within its portal application.Using a customizable “dashboard interface populated with embedded queries, business users at Kingsway can instantly access up-to-date information and answers to

News Insurance

Western Financial Group plans to buy B.C. insurance agencies

December 1, 2006 by Canadian Underwriter

Western Financial Group has announced it intends to acquire Geer Spice Insurance Agencies Ltd., Northland Insurance Services Ltd., J.W. Baker Insurance Agencies Inc. and Pomeroy Insurance Services Ltd.The transactions are expected to close in January 2007. All of the planned

News Insurance

Cease and desist order issued against Quebec-based company

November 30, 2006 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) has issued a cease and desist order against a Quebec-based business operating in Ontario.A FSCO investigation found that Socit de Cautionnement Inc. (otherwise known as Canadian Bonding Corporation), Gestion Lamca Inc. (otherwise known

News Insurance

More ships doesn’t translate into P&I premium decrease

November 29, 2006 by Canadian Underwriter

Ship owners accustomed to double-digit increases in their protection and indemnity premiums over the past five years may be disappointed if they are expecting an improvement in their 2007 renewal terms, a Lloyd’s broker says.HSBC Insurance Brokers, a P&I specialist,

News Insurance

Bank Act review proposals now before Parliament

November 29, 2006 by Canadian Underwriter

The Bank Act review continues to go the brokers’ way.Finance Minister Jim Flaherty recently introduced legislative proposals to Parliament that appear to close the issue of banks retailing insurance for yet another five years.IBAC praised the government for not giving

News InsuranceMergers and Aqcuisitions

What’s New: In brief (November 28, 2006)

November 28, 2006 by Canadian Underwriter

Integro (Canada) Ltd. has appointed Brian Cameron as principal and executive broker for the Toronto office. Cameron joins Integro from Marsh Canada, where he served as a senior vice president. He has 35 years of experience as a property and

News Insurance

What’s New: In brief (November 23, 2006)

November 23, 2006 by Canadian Underwriter

Independent insurance brokers representing The Dominion of Canada General Insurance Company will have the opportunity to meet the flammable-liquid-detecting dog they sponsor through Ottawa Fire Services. The Dominion signed an agreement earlier this year to sponsor the pooch in an

News Insurance

Loyalist Insurance Group reports 2006 Q3 revenues dip

November 23, 2006 by Canadian Underwriter

The Loyalist Insurance Group Limited has announced its 2006 Q3 revenues decreased to Cdn$449,380 from Cdn$488,331 for 2005 Q3.“The decrease, in part, was due to the sale of a small portion of the customer list to a former employee,” the