Segment
Brokers
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…
Wendy Baker resigns as president of Lloyd’s America Inc.
December 20, 2007 by Canadian UnderwriterWinifred “Wendy” Baker, who in 1990 became the first woman to lead a reinsurance company, will step down after nine years as president of Lloyd’s America Inc. at the end of December 2007, A.M. Best has reported.Baker managed Lloyd’s offices…
Aon sells Combined Insurance to ACE for US$2.4 billion in cash
December 18, 2007 by Canadian UnderwriterFocussing more exclusively on the risk brokerage and consulting side of its business, Aon Corporation has signed a definitive agreement to sell 100% of the outstanding stock of Combined Insurance Company of America and certain of its subsidiaries to ACE…
ATV owners may qualify for tax refund
December 17, 2007 by Canadian UnderwriterOntario’s Ministry of Revenue has informed the Insurance Brokers Association of Ontario (IBAO) that all-terrain (ATV) owners might be eligible for a tax refund based on the classification under which they may have insured their vehicles. Prompted by an IBAO…
What’s New: In Brief (December 12, 2007)
December 12, 2007 by Canadian UnderwriterAon Re Global Fac has launched a reinsurance private clients suite model consisting of facultative insurance professionals in 15 different locations around the world.This approach to global cedants is a component of the Aon Re Global’s Integrated Capital Solutions and…
U.K. regulator to do further study on mandating commission disclosure
December 10, 2007 by Canadian UnderwriterThe United Kingdo’s financial services regulator, the Financial Services Authority (FSA), says it wants to take more time to consider “possible inefficiencies in the commercial general insurance market” before making a decision on whether to mandate commission disclosure. Under the…
What’s New: In Brief (December 05, 2007)
December 5, 2007 by Canadian UnderwriterThe Insurance Brokers Association of Ontario (IBAO) has launched a new feature of its online function, ‘Locate a Broker,’ which now allows consumers to search for a broker representing a specific insurance company.“Using a broker is all about having access…
HKMB International Insurance Brokers joins HUB International
December 5, 2007 by Canadian UnderwriterHUB International Ltd. and HKMB International Insurance Brokers have entered into a definitive agreement in which HKMB will join with HUB International. HKMB will become a new regional platform and carry on business as HKMB Hub International from its offices…
What’s New: In Brief (December 03, 2007)
December 3, 2007 by Canadian UnderwriterA.M. Best Co. has upgraded the financial strength rating of ACE INA Insurance (Canada) to A+ (Superior) from A (Excellent).The ratings reflect A.M. Best’s view that the company maintains excellent capitalization, has delivered consistently strong operating performance for several years…
York Fire & Casualty pulls rates from online quoting engine
November 30, 2007 by Canadian UnderwriterIn a move to support the independent broker distribution channel, York Fire & Casualty Insurance removed its rates from Belair Direct Insurance’s online quoting engine, according to a release from the Insurance Brokers Association of Ontario (IBAO). The IBAO notes…
Toronto firm calls for spin-off of MMC subsidiaries
November 28, 2007 by Canadian UnderwriterK.J. Harrison & Partners Inc. (KJH), a Toronto-based private client investment management firm, has filed a proposal that Marsh & McLennan Companies (MMC) Inc., the holding company of global advice and solutions providers in risk, strategy and human capital, spin…