Segment
Brokers
What’s New: In Brief (January 28, 2008)
January 28, 2008 by Canadian UnderwriterTIC Travel Insurance Coordinators Ltd. raised more than Cdn$20,000 for charity this past holiday season, the result of the company’s second annual “Have a Heart” campaign. TIC donated to three charities on behalf of its travel agents and insurance broker…
What’s New: In Brief (January 18, 2008)
January 18, 2008 by Canadian UnderwriterRoyal & SunAlliance (R&SA) has partnered with the Executive Development Centre at Queen’s School of Business to launch a new broker education program. The program, Making Partner, has been designed with Queen’s to provide customized senior management leadership and business…
What’s New: In Brief (January 18, 2008)
January 18, 2008 by Canadian UnderwriterJohn Joseph London, 38, faces fraud charges in Toronto after an investigation into an alleged insurance scam. London, of Richmond Hill, ON, is charged with fraud under Cdn$5,000, falsification of books or documents, writing a forged document and selling/giving/distributing a…
UK brokers call on government to establish independent agency for flooding
January 17, 2008 by Canadian UnderwriterThe British Insurance Brokers’ Association (BIBA) is encouraging the UK government “to appoint one single body with the authority to take responsibility for the risk of flooding,” as well as to co-ordinate discussions with various stakeholders to reduce the risk…
What’s New: In Brief (January 15, 2008)
January 15, 2008 by Canadian UnderwriterRod Hancock has officially assumed his new role as president of the Insurance Brokers Association of Ontario (IBAO). After a career as a psychology professor at the University of Western Ontario, Hancock launched a career in the insurance brokerage business…
Contingency fees “not dead,” says Fitch Ratings Agency
January 14, 2008 by Canadian UnderwriterDespite efforts to eliminate contingent commissions, “they are not dead,” according to Fitch Ratings Agency’s recent report ‘Review and Outlook 2007-2008.’Fitch said it believes “the major brokers are finding ways to incrementally increase revenue in the absence of contingent commissions,…
What’s New: In Brief (January 08, 2008)
January 8, 2008 by Canadian UnderwriterWestport Insurance Corporation, a Swiss Re company, has merged with Employers Reinsurance Corporation. Employers Reinsurance Corporation holds a Canadian branch. In the merger, Employers Reinsurance Corporation assumed the Westport name and all of the liability and obligations under and according…
Marsh reorganizes into U.S./Canada and International divisions
January 4, 2008 by Canadian UnderwriterMarsh, a global insurance broking business, is consolidating its business into two geographic divisions: U.S./Canada and International.“Simplifying the current structure will enable Marsh to reduce complexity and improve efficiencies within the organization,” said Marsh CEO Daniel S. Glaser, who joined…
What’s New: In Brief (January 04, 2008)
January 4, 2008 by Canadian UnderwriterWestern Financial Group has acquired Early Insurance in Thompson, Manitoba, and Southern Insurance Management in Lethbridge, Alberta.Southern Insurance Management has been operating as a family-run business in Lethbridge for more than 50 years, with services and products in both commercial…
Reinsurance rates down across all markets
January 2, 2008 by Canadian UnderwriterReinsurance rates continued to soften during 2008 renewals, according to separate reports issued by two leading global reinsurance and insurance brokers.Reinsurance broker Guy Carpenter, in a report entitled ‘Near Misses, Plentiful Reminders: Global Reinsurance Review, January 2008,’ notes “property catastrophe…
What’s New: In Brief (December 21, 2007)
December 21, 2007 by Canadian UnderwriterPilot Insurance Company has signed on to a Cdn$120,000, three-year financial commitment to OSAID (Ontario Students Against Impaired Driving), an association organized and run by high school students to increase awareness about the perils of impaired driving.As well, Pilot will…
S&P’s affirms A+ rating for Aviva Canada subsidiaries
December 21, 2007 by Canadian UnderwriterStandard & Poor’s Ratings Services has assigned an ‘A+’ financial strength rating to S&Y Insurance Co., and affirmed its A+ financial strength rating for other Aviva Canada subsidiaries.The rated subsidiaries include Aviva Insurance Co. of Canada, Elite Insurance Co., Pilot…