Canadian Underwriter

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News Insurance

Sovereign General will defend against AMF allegations

January 18, 2006 by Canadian Underwriter

The Sovereign General Insurance Company says it was “stunned” by recent accusations made against the company by the Autorite des Marches Financiers (AMF), according to a Jan. 17 company press release.The Sovereign General release says the AMF posted notices of

News Insurance

In Memorium: Art Despard

January 13, 2006 by Canadian Underwriter

RIBO past president Art Despard has passed away at the age of 72. He served on RIBO Council from 1994 to 2000 and contributed thereafter as a chairperson of RIBO’s discipline committee. Despard had more than 50 years of insurance

News Insurance

IBAC supports Conservative platform

January 13, 2006 by Canadian Underwriter

The Insurance Brokers Association of Canada (IBAC) has voiced its support of the Conservative Party’s recent platform announcement, which outlined a decision to maintain current regulations regarding banks and insurance. IBAC says it is urging other party leaders to follow

News Insurance

New officers to lead RiskProNet

January 11, 2006 by Canadian Underwriter

RiskProNet International, a network of 29 leading independent insurance brokers throughout the United States and Canada, recently announced that the president for 2006 will be Scott Drew, vice president of Associated Financial Group in Minnetonka, Minn.Drew was previously vice president

News Insurance

Equisure reaches agreement with Quebec regulator

December 16, 2005 by Canadian Underwriter

Equisure Financial Network Inc. has announced an agreement with the Autorit des marchs financiers (AMF) that will conclude the Quebec regulatory agency’s examination into the business practices of the property and casualty insurance brokerages that Equisure represents in the province.Under

News InsuranceMergers and Aqcuisitions

IBAC regrets end of portal, stands behind CSIO

December 14, 2005 by Canadian Underwriter

The Insurance Brokers Association of Canada (IBAC) has expressed its disappointment with the recently announced demise of the CSIO Portal Project.“It is with great disappointment for IBAC that the portal project will not continue growing to better serve the needs

News Insurance

CSIO closes door on Portal Project (December 13, 2005)

December 13, 2005 by Canadian Underwriter

The CSIO Portal Project a technology project conceived six years ago to improve the efficiency of workflow between independent brokers and insurers will be “winding down” immediately, the Centre for the Study of Insurance Operations (CSIO) has announced in a

News InsuranceMergers and Aqcuisitions

PetCare and Lombard expand relationship (December 07, 2005)

December 7, 2005 by Canadian Underwriter

PetCare Insurance Brokers Ltd. has expanded its underwriting relationship with Lombard General Insurance Company of Canada so that, effective March 1, 2006, Lombard will increase its participation in the underwriting of Canadian PetCare pet insurance programs from 50% to 100%.Oakville,

News InsuranceMergers and Aqcuisitions

AXA Canada acquires The Citadel for $310 million

November 30, 2005 by Canadian Underwriter

Winterthur Group is selling Winterthur Canada Financial Corporation and its wholly owned subsidiary, The Citadel General Assurance Company, to AXA Canada Inc. a wholly-owned subsidiary of AXA S.A. – for approximately Cdn$310 million.The sale of its Toronto-based operations completes Winterthur’s

News InsuranceMergers and Aqcuisitions

IBABC calls for credit-scoring restrictions

November 29, 2005 by Canadian Underwriter

The Insurance Brokers Association of B.C. (IBABC) will urge the B.C. provincial government to include restrictions on credit scoring in the next Insurance Act, contrary to what Canadian Underwriter recently posted on its News Daily Web site, according to Chuck

News Insurance

Markel International opens Canadian branch in Toronto

November 28, 2005 by Canadian Underwriter

Markel International, the international property and casualty insurer, has announced the first official day of trading for its Canadian branch, MINT Canadian Specialty Underwriters (MCSU), located in Toronto.Markel Corporation markets and underwrites specialty insurance products and programs for a variety

News Climate ChangeInsuranceMergers and Aqcuisitions

Marsh report outlines post-Katrina world

November 25, 2005 by Canadian Underwriter

Hurricanes Katrina and Rita were “insurance-market-changing” events that many US insurers say will return property insurance rates to their 2003 levels, according to a white paper released by Marsh & McLennan Cos.“Catastrophe rate increases are ranging from 10% to more