Segment
Brokers
What’s New: In Brief (May 21, 2008)
May 21, 2008 by Canadian UnderwriterThe Autorit des marches financiers (AMF) ordered Courtage d’assurance Claude Htu inc. to pay a Cdn$3,000 penalty for failure to file financial statements. The brokerage firm was ordered to pay the penalty after it belatedly filed financial statements for fiscal…
What’s New: In Brief (May 20, 2008)
May 20, 2008 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR), The Co-operators and the Downtown Guelph Business Association have partnered in the creation of the disaster-planning program called Open for Business.Launched in Guelph, Ont., the pilot program consists of a disaster planning folder,…
What’s New: In Brief (May 13, 2008)
May 13, 2008 by Canadian UnderwriterBrokers who work with Jevco Insurance Company, which recently introduced a new Web portal, can now input policy information online.Those who do so can receive client documents from Jevco immediately, and a policy document within a day or two. Prior…
Controversial Guaranteed Replacement Cost (GRC) coverage to be extended to commercial lines
May 12, 2008 by Canadian UnderwriterAt a time when some B.C. insurers believe eliminating guaranteed replacement cost (GRC) coverage would eradicate under-valuation of personal lines homeowners policies, ING Insurance Company of Canada announced it is piloting a project to introduce GRC coverage for commercial lines…
B.C. Insurance Act rewrite may not see light of day until 2010
May 12, 2008 by Canadian UnderwriterB.C.’s revised Insurance Act might not be passed until 2010 about seven years after the Supreme Court of Canada found that B.C.’s Insurance Act was antiquated and needed a re-write, B.C. political affairs columnist Vaughn Palmer told a convention of…
McDougall Insurance acquires George A. Grant Insurance Brokers
May 6, 2008 by Canadian UnderwriterMcDougall Insurance and Financial, billed as the largest independent insurance broker in eastern Ontario, just got bigger, purchasing Napanee’s largest independent brokerage firm, George A. Grant Insurance Brokers Ltd.“This deal is especially gratifying, because it keeps independent insurance brokers like…
What’s New: In Brief (May 06, 2008)
May 6, 2008 by Canadian UnderwriterThe Standard Insurance Brokers Ltd. intends to acquire Canada Brokerlink’s northwestern Ontario offices in Kenora, Sioux Lookout, Red Lake and Dryden’s Skillen-Squire, as per a letter of intent. The acquisition is subject to certain conditions and the terms of the…
What’s New: In Brief (May 05, 2008)
May 5, 2008 by Canadian UnderwriterAbout 40% of Canadians renovated their home last year; of those that did, about 67% that did neglected to consult a broker or insurance company, according to a Royal & SunAlliance (RSA) survey. Homeowners are investing in renovations and valuable…
What’s New: In Brief (May 01, 2008)
May 1, 2008 by Canadian UnderwriterPartnerRe Ltd. (NYSE: PRE) has reported a net income of US$129 million for 2008 Q1, compared to US$169.3 million profit posted in 2007 Q1. The company reported a combined ratio of 92.3% for the first quarter, up from 2007 Q1’s…
Insurers showing a poor spread of risk premium, broker tells CIP Symposium
April 30, 2008 by Canadian UnderwriterThe contention that “strong” premium growth is a feature of the current soft market is laughable because the industry is currently seeing a poor spread of risk premium, Fred De Francesco of Fairview Insurance Brokers told the CIP Society’s Symposium…
No such thing as ‘incidental’ insurance sale, IBAC tells regulators
April 30, 2008 by Canadian UnderwriterThe standards of licensing and supervision of insurance sellers should be determined not by their “method of sale,” but by the substantive attributes of the product sold, the Insurance Brokers Association of Canada (IBAC) has told a working group of…
B.C. brokers’ general continuing education program undergoes facelift
April 28, 2008 by Canadian UnderwriterThe Insurance Council of British Columbia, which regulates the province’s brokers, has published new guidelines for its General Continuing Education (C/E) Program, including a focus on strictly insurance-related aspects of the business.As of June 1, 2008, the General C/E Program…