Canadian Underwriter

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Brokers


News Insurance

What’s New: In Brief (March 07, 2007)

March 7, 2007 by Canadian Underwriter

ING Insurance Company of Canada is continuing to support the Broker Identity Program [BIP] as a full partner, the Insurance Brokers Association of Canada [IBAC] announced in a press release.IBAC launched the BIP program in 1989. More than 20 insurance

News Insurance

ING, Policy Works launch integrated exchange of commercial data

March 5, 2007 by Canadian Underwriter

ING Insurance Company of Canada and Policy Works Inc. have developed an integrated solution for exchanging commercial lines data. Data exchange has been common in personal lines insurance for some time, ING Insurance notes in a press release. But the

News Insurance

Australia’s Macquarie Group acquires Insurance Pay Canada

March 1, 2007 by Canadian Underwriter

Australian financial services provider Macquarie Group (Macquarie) has acquired Insurance Pay Canada Inc. (Insurance Pay), a Canadian premium finance company.Insurance Pay works exclusively with independent brokers to provide insurance premium financing to commercial customers who prefer to pay their premiums

News Climate ChangeInsurance

Willis supports permanent government terrorism insurance backstop

February 28, 2007 by Canadian Underwriter

Willis North America has urged the United States government to renew the Terrorism Risk Insurance Act (TRIA), due to expire at the end of 2007, and establish a permanent government terrorism insurance backstop.Don Bailey, CEO of Willis North America, a

News Insurance

Will CCIR require insurers to oversee their brokers’ market conduct?

February 27, 2007 by Canadian Underwriter

Canadas insurance regulators are contemplating market conduct surveys in the spring of 2007 that may ask insurance companies what they are doing to oversee the market behaviour of the brokers and sales intermediaries acting on their behalf.This is a development

News Insurance

Hub to be acquired by Apax Partners and Morgan Stanley Principal Investments

February 26, 2007 by Canadian Underwriter

Hub International Limited (TSX: HBG) announced that it has entered into an agreement to be acquired by funds advised by Apax Partners and Morgan Stanley Principal Investments, through an arrangement agreement and related plan of arrangement. Under the terms of

News Insurance

What’s New: In Brief (February 23, 2007)

February 23, 2007 by Canadian Underwriter

Woodhouse Contracting Ltd. has joined a strategic partnership with Edenvale Restoration, uniting two of the largest independent companies in the Canadian disaster restoration industry.Edenvale, with headquarters in Abbotsford, B.C., operates in the British Columbia Lower Mainland with operation branches in

News Insurance

Celent study cites miscommunication between IT vendors, insurers

February 23, 2007 by Canadian Underwriter

A new report by Celent research services, Dont Sell Unicorns, suggests there is often a failure to communicate during the technology purchasing process between the insurance software vendors and insurance IT buyers.The study presents a set of key principles drawn

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (February 22, 2007)

February 22, 2007 by Canadian Underwriter

Portage la Prairie Mutual Insurance Company has increased its investment in the 2007 Broker Identity Program (BIP), established in 1989 by the Insurance Brokers Association of Canada (IBAC).The BIP program is a branding campaign for over 30,000 insurance brokers. Twenty

News Insurance

What’s New: In Brief (February 19, 2007)

February 19, 2007 by Canadian Underwriter

Willis Group Holdings, an international insurance broker, has announced the appointment of Richard T. Hynes as president and CEO of Willis Canada. Hynes possess more than 25 years of management and industry experience in the Canadian market, with market growth

News Insurance

Co-operators report fourth quarter results

February 16, 2007 by Canadian Underwriter

For the fourth quarter, Co-operators General Insurance Company reported consolidated after-tax net income of Cnd$19 million, compared to the Cnd$39 million profit for the same period in 2005.Gross written premium in the fourth quarter increased 6.7% to Cnd$519 million, compared

News Climate ChangeInsurance

State Farm Insurance will stop writing new policies for Mississippi

February 15, 2007 by Canadian Underwriter

Citing uncertainties in the Mississippi legal and business environments, State Farm Senior Vice President Bob Trippel recently told Mississippi’s Commissioner of Insurance George Dale that State Farm Fire and Casualty Company will suspend writing new homeowners and commercial property insurance