Segment
Brokers
KRG Insurance Brokers Inc. merges with Roger R. James Insurance Brokers Ltd. (January 26, 2009)
January 26, 2009 by Canadian UnderwriterRoger R. James Insurance Brokers Ltd. and KRG Insurance Brokers Inc. have merged to become one of Canada’s largest independent brokers.The financial terms of the merger were not disclosed. Established in 1976, RRJ Insurance Group is a multi-line office with…
What’s New: In Brief (January 22, 2009)
January 22, 2009 by Canadian UnderwriterThe KRG Children’s Charitable Foundation donated Cdn$2 million to Canadian charities in 2008.The donation includes a Cdn$1.3-million contribution to the Hospital for Sick Children.“KRG is in the insurance business and The Hospital for Sick Children represents a giant insurance policy…
Aviva Canada terminates partnership with PC Financial
January 22, 2009 by Canadian Underwriter**CORRECTION** The following item is an amended version of a prevous item in which Sally Turney was incorrectly quoted as saying the partnership no longer met the companies’ financial needs. In fact, the partnership no longer meets the companies’ strategic…
North American broker profitability in 2009 expected to be flat or modestly lower
January 20, 2009 by Canadian UnderwriterLooking ahead into 2009, the profitability of the North American insurance broker industry is expected to be flat or modestly lower, Fitch Ratings says in a recent report, Review and Outlook 2008-2009.In making its assessment, Fitch noted the “economic recession…
What’s New: In Brief (January 19, 2009)
January 19, 2009 by Canadian UnderwriterJean Chretien, former Prime Minister of Canada, will be the keynote luncheon speaker at the 2009 National Insurance Conference of Canada (NICC).The conference will be held from Wednesday, Sept. 30 until Friday, Oct. 2 at the Ottawa Westin. Registration for…
Gore Mutual receives top marks from Ontario brokers
January 13, 2009 by Canadian UnderwriterGore Mutual was the only insurer in the standard market to consistently be ranked above average in an annual survey initiated by the Insurance Brokers Association of Ontario (IBAO).The 2008 Rate Your Company Survey included 1,150 responses from brokerages, 48%…
What’s New: In Brief (December 18, 2008)
December 18, 2008 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) is reminding consumers that if thieves break into a vehicle and steal some of its contents, two insurance claims will need to be filed.The auto policy covers damage to the vehicle, while the…
Willis survey suggsts financial lines insurance will become a hot commodity
December 18, 2008 by Canadian UnderwriterA recent Willis Group Holdings survey suggests liability insurance for financial loss will be a hot commodity in the near future.Willis’ Financial and Executive Risks (FINEX) division surveyed 40 delegates attending Willis’ quarterly Financial Institutions seminar. Sixty-six per cent of…
Independent brokers provide socio-economic support to communities, study finds
December 12, 2008 by Canadian UnderwriterIndependent research released by the Insurance Brokers Association of Ontario (IBAO) shows that independent brokers continue to have strong socio-economic impacts on the communities in which they operate, the association says.The bi-annual study was conducted in the winter of 2008.…
Canada’s insurance industry broadly supporting principles around managing conflicts: CCIR
December 8, 2008 by Canadian UnderwriterCanada’s insurance industry is broadly supporting three principles for managing conflicts of interest proposed by the country’s insurance market conduct regulator in 2006, a survey has found.These principles include ensuring:• the priority of a client’s interest;• disclosure of conflicts or…
IBAO recognizes outstanding members through inaugural awards
December 2, 2008 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) held its inaugural Awards of Excellence Gala, giving recognition to six outstanding brokers during its 88th Annual Convention in Toronto in October.The winners of the 2008 IBAO Awards of Excellence, listed below, were…
What’s New: In Brief (November 24, 2008)
November 24, 2008 by Canadian UnderwriterMarsh & MacLennan Cos. (NYSE: MMC) has filed a shelf registration statement with the U.S. Securities Exchange Commission (SEC) indicating it has set aside 22.6 million common shares worth US$500 million to be used in connection with acquisitions of other…