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Police charge Toronto man in connection with insurance fraud scheme

November 25, 2010 by Canadian Underwriter

A Toronto man has been charged in connection with an insurance fraud investigation. According to Toronto police, the fraud scheme involved a paralegal who said he was operating under Royal Sun and Alliance Company, using ‘Executive Brokers’ as the name

News Insurance

Banks take long-term view on lobbying to sell, market insurance

November 25, 2010 by Canadian Underwriter

Banks are predictably lobbying the federal government during the 2012 Bank Act review to lift restrictions preventing them from marketing and selling insurance products in their branches, but a recent Canadian Bankers Association (CBA) submission suggests banks see this more

News InsuranceMergers and Aqcuisitions

RSA Canada invests in Real-Time Inquiry

November 25, 2010 by Canadian Underwriter

RSA Canada has invested in Real-Time Inquiry, which allows brokers to access client information. Applied Systems TAM brokers will be able to access their client’s billing, claims and policy information quickly and easily, without ever leaving their broker management system.Brokers

News Insurance

Vic Krauze appointed chairman and CEO of Willis North America

November 23, 2010 by Canadian Underwriter

Global insurance broker Willis Group Holdings (NYSE: WSH) has appointed Vic Krauze as chairman and CEO of Willis North America. Krauze will report to Joe Plumeri, chairman and CEO of Willis Group, and will serve as a member of Willis’

News InsuranceLegal

B.C. Insurance Council places restrictions on SSEI Insurance Agency, suspends license of its sole officer and director

November 22, 2010 by Canadian Underwriter

The Insurance Council of British Columbia has placed conditions on the license of SSEI Insurance Agency and suspended the license of its sole officer and director, Nicholas Di Perno, pending an investigation of misconduct allegedly occurring at the sports and

News Insurance

Munters MCS rebrands itself as Polygon

November 19, 2010 by Canadian Underwriter

Munters’ Moisture Control Services (MCS) will now be known as Polygon. The MCS division separated from Munsters Group at the beginning of October, establishing itself as an independent company. The company had been operating under different brands across the world.

News Insurance

Marsh predicts ongoing soft U.S. commercial lines through 2010 Q4

November 18, 2010 by Canadian Underwriter

Soft U.S. commercial insurance market conditions are expected to persist through 2010 Q4, Marsh reported.So far in 2010 Q4, Marsh clients renewing their programs have experienced average rate reductions across all major lines of business compared to 2009 Q4. Marsh’s

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

MPI, brokers offer provincial snowmobilers new Snopass payment options

November 17, 2010 by Canadian Underwriter

Manitoba Public Insurance (MPI), in partnership with Snoman Inc. and the Insurance Brokers Association of Manitoba (IBAM), has given the province’s snowmobilers more payment options to purchase their Snopasses. Snowmobilers require a valid Snopass to travel legally on Snoman’s groomed

News Insurance

R&Q Risk Services launches Canadian managing general agent unit

November 15, 2010 by Canadian Underwriter

R&Q Risk Services Canada Limited is the newest managing general agent to enter the Canadian marketplace.R&Q Risk Services is owned by Randall & Quilter Investment Holdings Plc, a publicly listed non-life insurance investor, service provider and underwriting manager.Lloyd’s Syndicates will

News Insurance

Swiss Re offers brokers E&O deductible reduction policy enhancement

November 15, 2010 by Canadian Underwriter

Swiss Re has launched a new deductible reduction policy enhancement for its broker association errors and omissions (E&O) policyholders. Through the enhancement, Swiss Re will reduce the E&O policy deductible by 50% – up to a maximum of $12,500 per

News Insurance

MGA market maturing, but profitability expectations shrinking: Guy Carpenter

November 15, 2010 by Canadian Underwriter

The program administrator and managing general agent (MGA/PA) market is maturing, but profitability expectations within the sector are shrinking, reported Guy Carpenter.In its annual survey of the MGA/PA market, Guy Carpenter noted the number of carriers entering the space has

News Insurance

RCCAQ appoints new executive director

November 12, 2010 by Canadian Underwriter

Isabelle Perreault has been appointed executive director of the Regroupement des cabinets de courtage d’assurance du Québec (RCCAQ). She was previously the director of communications and public affairs with the Chambre de l’assurance de dommages (ChAD) and the Coalition pour