Canadian Underwriter

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News Insurance

New online tool to aid brokers

October 4, 2006 by Canadian Underwriter

Markel Insurance Co. of Canada has launched an online endorsement processing service for Markel insurance brokers servicing the Canadian trucking industry. Silvy Wright, president and CEO of Markel explains that mid-term endorsements are a time-consuming endeavor for brokers. “Our answer

News Insurance

Attorneys General file motion regarding Zurich settlement

September 29, 2006 by Canadian Underwriter

Ten state Attorneys General recently filed a motion with the U.S. District Court for New Jersey opposing the National Association of Professional Insurance Agents’ (PIA)’ position regarding the proposed class action settlement against Zurich American Insurance Co, which alleges improper

News Insurance

Global insurance brokers face future challenges (September 27, 2006)

September 27, 2006 by Canadian Underwriter

Insurance brokers worldwide face challenges as a result of New York Attorney General Eliot Spitzer’s investigation into bid-rigging in the insurance broker industry, according to a recent report published by Standard & Poor’s Rating Services.S&P’s report, entitled “Challenges Still Loom

News Climate ChangeInsuranceMergers and Aqcuisitions

What’s New: In Brief (September 25, 2006)

September 25, 2006 by Canadian Underwriter

ICBC is planning to drop a car from a 50-foot crane at the PNE fairgrounds in Vancouver to illustrate graphically the damage of a head-on crash between a car moving at 60 km-h and a stationary object.The public event will

News Insurance

Integro and Indemnis partner up

September 25, 2006 by Canadian Underwriter

Integro Insurance Brokers has implemented a new business venture with Indemnis Trade Risk Management, which will allow the broker to offer new trade risk management programs to its North American clients. “We are enthusiastic about our firm’s collaboration with Indemnis

News Insurance

Willis North America welcomes new CEO

September 22, 2006 by Canadian Underwriter

Willis North America has appointed Don Bailey to the position of chief executive officer. Bailey succeeds Mario P. Vitale, who, after six years at Willis, will leave the brokerage to take the position of CEO of Zurich’s Global Corporate North

News Climate ChangeInsurance

Popularity of reinsurance modelling increases

September 19, 2006 by Canadian Underwriter

Companies attempting to optimize their reinsurance programs are turning to reinsurance modeling more and more, A.M. Best reports.The ratings agency notes Raju Bohra, a senior vice president at Willis Re Inc., made the observation at the 111th National Association of

News InsuranceMergers and Aqcuisitions

AFN partners with CINUP to serve First Nations’ P&C needs

September 15, 2006 by Canadian Underwriter

AFN Insurance Brokers Inc. (AFN) has partnered with CINUP, a division of the Rice Financial Group Inc. (a subsidiary of Jovian Capital Corporation (JVN:TSX-V)) to offer a convenient one-stop insurance solution to serve the distinct needs of Canada’s First Nations

News Insurance

Marsh to eliminate 750 staff positions

September 15, 2006 by Canadian Underwriter

Marsh & McLennan Companies, Inc. (MMC) is planning to save about US$350 million by 2008, in part through the reduction or attrition of 750 staff positions.“Beginning a year ago, we initiated an effort to rationalize MMC’s IT infrastructure, institutionalize firm-wide

News InsuranceMergers and Aqcuisitions

Norwich Union to cut 4,000 jobs in U.K.

September 14, 2006 by Canadian Underwriter

Following a review of its businesses, Norwich Union, a subsidiary of Aviva and the U.K.’s largest insurer, is poised to reduce its U.K. workforce by 4,000 prior to the end of 2007.“Approximately half of [the workforce reductions] are anticipated to

News InsuranceMergers and Aqcuisitions

Dominion includes fraud insurance in homeowners’ package

September 14, 2006 by Canadian Underwriter

The Dominion of Canada General Insurance Company (“The Dominion”) is now automatically including up to $25,000 of identity fraud expense coverage in its and Chieftain’s homeowners, tenants and condominium policies, subject to a $250 deductible.The Dominion announced it is not

News Insurance

Oxygen Holdings introduces reinsurance broker

September 13, 2006 by Canadian Underwriter

Oxygen Holdings P.L.C. recently introduced a reinsurance broker, Oxygen Re that will serve buyers of non-marine, marine and aviation treaty reinsurance and retrocessional covers.In addition, London-based Oxygen Holdings says it will introduce third-party capital in various forms to support underwriting.The