Manitoba-based brokerages Horizon Insurance and Ryan Gateway Insurance Brokers have announced a merger of operations.A release describes the merger as “the coming together of the oldest and the largest local insurance brokers in Manitoba.” Ryan Gateway Insurance Brokers has provided…
Western Financial Group has agreed to acquire all issued and outstanding shares of Winnipeg-based Hayhurst Elias Dudek (HED) Inc. and its subsidiaries, including Securican General Insurance Company.The transaction has been approved by all applicable regulatory bodies and is scheduled to…
Friends and colleagues of the late Ciaran Shannon will hold a tribute evening on Oct. 23, 2009 to raise funds for the education of his children.Shannon came to Canada in 2001 and joined Marsh Canada as a general insurance broker.…
The Insurance Brokers Association of Ontario and SCM Risk Management Services have partnered to develop and introduce an insurance-to-value (ITV) software solution for Ontario insurance brokers and their clients.Independent Brokers Resources Inc. (IBRI), a wholly-owned subsidiary of IBAO has committed…
Transparency around the use of credit scoring has placed the role of the broker front and centre in the insurance transaction between insurers and policyholders, the self-regulating body of Ontario’s brokers observes in a quarterly newsletter.“It is often brokers that…
The Risk and Insurance Management Society (RIMS) has formed a committee to increase its profile in the standards and practices arena and make it the primary resource in shaping and developing risk management standards.Carol A. Fox, past chair of RIMS…
The Economical Insurance Group, and Pembridge Insurance Company have committed to maintaining their investment as full partners of the Insurance Brokers Association of Canada (IBAC)’s Broker Identity Program. Gore Mutual has invested as a full partner, as well. The cornerstone…
Saskatchewan’s Financial Services Commission is seeking comment on its proposal to enact a restricted licensing system for the purpose of regulating the selling of incidental insurance products.Saskatchewan’s insurance regulator is proposing to allow the General and Life Insurance Councils of…
Marsh & McLennan Companies Inc. (MMC) reported a net loss in 2009 Q2 of US$193 million, compared to a profit of US$65 million in 2008 Q2.Marsh’s quarterly result includes a US$315-million writedown related to Kroll Government Services, a U.S. government…
Travelers Guarantee Company of Canada is providing broader coverage for directors and officers of Canadian publicly traded companies in one endorsement.Travelers Executive Choice CanadianEdge is for Canadian public companies with a market capitalization of Cdn$1 billion or less.In addition to…
Damage insurance companies in Quebec reported net earnings of Cdn$2.5 billion in 2008, a 51.3% drop compared to 2007, according to the 2008 report on insurance released by the Autorité des marchés financiers (AMF). Minister of Finance Raymond Bachand tabled…
The July 1, 2009 reinsurance renewals saw sufficient capacity in all areas, according to several broker overviews. This was despite predictions of dramatic rate increases to offset reinsurer losses over the preceding 12 months, according to Willis Re. Consistent with…