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What’s New: In Brief (July 04, 2007)

July 4, 2007 by Canadian Underwriter

Tesfaye Fekade has been appointed to the position of vice president, operations of MSA Research Inc.In a press release, Joel Baker, MSA president and CEO, commented that Fekade is an extremely valued addition to the MSA team.His deep technical knowledge

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What’s New: In Brief (July 03, 2007)

July 3, 2007 by Canadian Underwriter

A.M. Best Co. is hosting a comprehensive, one-day conference in Toronto to explore the issues facing the Canadian insurance industry. The 2007 Review& Preview ConferenceCanadian Update will be held Sept. 21 from 8:30 a.m. to 3 p.m. at the Westin

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What’s New: In Brief (June 27, 2007)

June 27, 2007 by Canadian Underwriter

B.C. over the past five years has averaged two deaths and 161 injuries in 574 crashes on Canada Day, costing ICBC and customers Cdn$4.4 million in claims costs. Year after year, speeding is the top contributing factor in all fatal

News Insurance

Guy Carpenter increases presence in Bermuda

June 26, 2007 by Canadian Underwriter

Guy Carpenter & Company LLC, a global risk and reinsurance specialist, has appointed a new Head of Office and expanded its office capabilities and resources in the Bermuda reinsurance market. It has been a landmark year for Guy Carpenter, as

News Insurance

SRPI launches product designed for Canadian golf courses

June 25, 2007 by Canadian Underwriter

Signature Risk Partners (SRPI) Inc. has launched a property and casualty product designed for Canadian golf course owners, with coverage extending from property and equipment, business interruption, crime and commercial general liability.The Signature Golf insurance program was created after a

News Insurance

Canadian carriers lagging in service: survey

June 22, 2007 by Canadian Underwriter

Canadian carriers scored the lowest in terms of quality of underwriting, policy administration and service when compared with the United States, London and Bermuda carriers in Willis Groups inaugural Carrier Evaluation Survey.In terms of claims, Canadians nudged ahead of Bermuda-based

News Insurance

France-based insurer acquires two Quebec brokerages

June 19, 2007 by Canadian Underwriter

French insurer April Group has announced its new presence in Canada with the acquisition of two Quebec brokerages, Escapade Assurances Voyages, and Dave Rochon Assurances.Escapade, situated in Sainte Croix, was created in 2003 and specializes in travel insurance for short

News Insurance

What’s New: In Brief (June 18, 2007)

June 18, 2007 by Canadian Underwriter

The Risk and Insurance Management Society (RIMS) has sponsored publication of a new handbook to help people make sense out of that nebulous area known as Enterprise Risk Management (ERM). The title of the book which would be familiar to

News Insurance

Chicoutimi insurance broker convicted on charge of tax evasion

June 18, 2007 by Canadian Underwriter

Gestion MRCI Inc., known under the company name of AssurExperts Gingras Jacques Lajoie et Associs lte, of Chicoutimi, has been found guilty of tax evasion by the Court of Quebec.In a press release, the Canada Revenue Agency (CRA) notes the

News InsuranceMergers and Aqcuisitions

Alberta introduces Insurance Act amendments, changes limitation periods

June 15, 2007 by Canadian Underwriter

The Alberta government on June 12 introduced Bill 42, which contains a number of changes to the provinces Insurance Act including an extension of the limitation period for a policyholder to claim against an insurer from one to two years.The

News Insurance

Insurance agents challenge RIMS on contingent commissions

June 14, 2007 by Canadian Underwriter

The National Association of Professional Insurance Agents (PIA) in the United States has criticized a statement issued by the Risk and Insurance Management Society (RIMS), saying the groups position on incentive compensation undermines the free enterprise system.RIMS, the nations largest

News Insurance

IBAC stresses importance of brokers to Members of Parliament

June 13, 2007 by Canadian Underwriter

The Insurance Brokers Association of Canada (IBAC) went to Parliament Hill on June 12 to emphasize the importance of more than 30,000 independent brokers across the country.Members of Parliament and Senators met with 50 insurance brokers across the country, as