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OARBIC releases new transactional insurance portal

May 2, 2006 by Canadian Underwriter

OARBIC, a specialized IT consulting firm for the property and casualty insurance industry, has just released a new transactional insurance portal called the OARBIC Software Enterprise Application (OSEA). OSEA provides a customizable ‘front end’ and dynamic link to one or

News Insurance

Loyalist reports decreasing revenues

May 1, 2006 by Canadian Underwriter

The Loyalist Insurance Group Limited (TSX Venture Exchange symbol: LOY), which operates in three Ontario locations as well as Charlotte, North Carolina, has reported decreasing revenues for the year ending 2005 from $2.43 million in 2004 to $2.011 million in

News Insurance

Family reception for late Arthur Despard moved to June 21

April 28, 2006 by Canadian Underwriter

The family of the late Arthur Despard has decided to postpone a previously-announced reception to celebrate his life. The family originally planned to hold a reception on Saturday, May 20 (what would have been Despard’s 73rd birthday). However, since this

News Insurance

Hub credits acquistions, Canadian dollar for revenue growth

April 28, 2006 by Canadian Underwriter

Hub International Limited (NYSE:HBG) (TSX:HBG) is crediting its acquisitions strategy in part for 2006 1Q revenue growth of 12% – from US$119.2 million to US$134.1 million.“We are off to a solid start in 2006, with measurable progress on all fronts,”

News InsuranceMergers and Aqcuisitions

Police arrest eight in auto insurance fraud investigation

April 27, 2006 by Canadian Underwriter

Eight Greater Toronto Area residents face 97 charges after the Toronto Police Fraud Squad, the Toronto Strategic Partnership, members of 33 Division and various insurance industry members concluded a four-and-a-half month investigation into the alleged production and sale of illegal

News InsuranceMergers and Aqcuisitions

Zycomp partners with Brovada to provide SEMCI solution

April 27, 2006 by Canadian Underwriter

Zycomp Systems Limited, a B.C.-based developer of computer management systems for Canadian insurance brokerages, has formed a partnership with Brovada Technologies Inc. to make Nexisys available to all Power Broker users. Zycomp’s Power Broker product is currently installed in 1,250

News Insurance

IBAO urges members to counteract credit unions’ lobby

April 25, 2006 by Canadian Underwriter

The Insurance Brokers Association of Ontario (IBAO) is calling on its membership to lobby against provincial legislative changes that would allow credit unions to retail insurance in their branch networks.“The livelihood of insurance brokers is being threatened by Ontario’s credit

News Insurance

Survey shows softening U.S. commercial market

April 21, 2006 by Canadian Underwriter

The United States seems to be experiencing the same signs of commercial market softening as is developing in Canada, according to a recent survey by the Washington, D.C.-based Council of Insurance Agents & Brokers (CIAB).“Commercial property/casualty rates were flat or

News Insurance

Banks take branch insurance sales to Supreme Court

April 18, 2006 by Canadian Underwriter

Canada’s largest banks have asked the Supreme Court of Canada to rule the Alberta Insurance Act be ruled “constitutionally inoperable or inapplicable to federally-regulated banks that promote the sale of insurance to their customers,” A.M. BestWire reports.At the Alberta Court

News Insurance

What’s New: In Brief (April 18, 2006)

April 18, 2006 by Canadian Underwriter

Martin Ouellet has been named regional sales manager for Canada at Applied Systems, Inc. Most recently, Ouellet was a senior sales consultant for Applied Systems Canada, devoting eight of his 12 years in technology sales and sales management to growing

News InsuranceMergers and Aqcuisitions

FSCO outlines priorities for 2006

April 12, 2006 by Canadian Underwriter

Developing principles concerning conflict of interest, developing a model for privilege and whistle-blowing protection and streamlining agent and broker licensing in Ontario are among the Financial Services Commission of Ontario (FSCO)’s priorities for 2006.Section 11 of the FSCO Act requires

News Insurance

Willis expands Toronto group

April 7, 2006 by Canadian Underwriter

Willis Group Holdings, Ltd. (NYSE: WSH) is strengthening its Canadian contingent with the appointment of five new insurance professionals to its Canadian operations. The new Toronto-based employees include Ayesha Navarro, Murray Kammer, Charles Fogden, Matthew Cook, and Douglas Bundock.Formerly senior