Canadian Underwriter

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Brokers


News InsuranceMergers and Aqcuisitions

New coverage enhances coverage to standard property policies

August 20, 2010 by Canadian Underwriter

Chesterfield Canada Inc., a specialist independent wholesale broker, has launched home appliance and systems warranty covers. The new products serve as endorsements to standard buildings and contents policies. It’s designed to ease the worries surrounding moving into a newly purchased

News InsuranceMergers and Aqcuisitions

Canadian P&C brokerages increased average operating profitability, despite recession

August 19, 2010 by Canadian Underwriter

Canadian property and casualty insurance brokerages increased operating profitability by roughly 5% between 2007 and 2009, reports Berris Mangan Consulting Inc.In its study, Property & Casualty Insurance Brokerage Industry Report, Berris Mangan Consulting surveyed 285 Canadian P&C brokerages. In 2009,

News Insurance

Peterborough brokers association to celebrate its 100th-year anniversary in September

August 18, 2010 by Canadian Underwriter

September 2010 marks the 100-year anniversary of the Peterborough Insurance Brokers Association.The original agreement for the association was signed into effect on Sept. 15, 1910, by T. E. Bradburn, John Crane, W. H. Thompson, W. H. Hill, Thomas Mark, W.

News Insurance

Ironshore creates professional indemnity product for oil and gas sector

August 12, 2010 by Canadian Underwriter

Pembrooke Syndicate 4000, a subsidiary of Ironshore Inc., has introduced a professional indemnity product intended to provide comprehensive coverage for the oil and gas industry. The coverage will be offered worldwide. It will be underwritten through Ironshore’s International platform for

News InsuranceMergers and Aqcuisitions

Insurance Council of B.C. fines agency, marketing manager for improper access to ICBC rate information

August 10, 2010 by Canadian Underwriter

The Insurance Council of B.C. has published its intention to fine Family Insurance Solutions Inc. $20,000 and its marketing manager, Graham Nelson Doerr, $10,000 for improperly obtaining vehicle rating information from the province’s public insurer, the Insurance Corporation of B.C.

News Insurance

RIBO does not recognize licensed brokerage employees as “independent contractors”

August 10, 2010 by Canadian Underwriter

A licensed individual at a brokerage cannot be an “independent contractor,” Ontario’s broker regulator, Registered Insurance Brokers of Ontario (RIBO), said in its Summer 2010 bulletin.“On occasion, RIBO staff has been advised that a licensed individual within a brokerage is

News InsuranceMergers and AqcuisitionsTechnology

Repairs for hybrid vehicles cost more than repairs for non-hybrids

August 9, 2010 by Canadian Underwriter

Claims costs are higher for hybrid cars and SUVs than for non-hybrids, according to Mitchell International. In its Quarterly Feature of the Mitchell Industry Trends Report, Mitchell International says hybrids have higher collision claims frequencies and severity than non-hybrids.Overall, hybrids

News Climate ChangeInsuranceMergers and Aqcuisitions

RSA creates new product for sellers of renewable energy

August 9, 2010 by Canadian Underwriter

RSA has launched a new product designed to protect homeowners and small businesses that sell renewable energy to the Ontario government in the event of lost income. The product covers the actual equipment against all risks of direct physical damage

News InsuranceLegal

AMF investigates ex-insurance broker’s role in $1.4-million Ponzi scheme

August 6, 2010 by Canadian Underwriter

Quebec’s securities regulator, the Autorité des marchés financiers (AMF), has blocked the accounts and companies of a former insurance broker as part of its investigation into an alleged $1.4-million Ponzi scheme.Acting on the authority of an administrative tribunal, the Bureau

News Earnings / RatingsInsurance

Western Financial Group doubles ownership interest in Falkins Insurance Group

August 4, 2010 by Canadian Underwriter

Western Financial Group has increased its ownership of Falkins Insurance Group Limited from 20% to 40%. In addition, all parties have agreed upon a pathway to provide Western with the ability to acquire full ownership of Falkins by Jan. 1,

News Insurance

Marsh announces five Canadian appointments to managing director status

August 3, 2010 by Canadian Underwriter

Marsh announced the appointment of 59 new managing directors in North America, five of which are Canadian.The 2010 ‘Class of Managing Directors’ work within a number of different risk practice and industry groups within Marsh and are located across both

News Insurance

Willis sees gain in 2010 Q2 net income

July 29, 2010 by Canadian Underwriter

Willis Group Holdings plc (NYSE: WSH) reported a net income of $89 million in 2010 Q2, a slight increase from the net income of $87 million in 2009 Q2.Organic growth in commissions and fees grew 4% from 2009 Q2. Net