Equisure Financial Network Inc. has announced an agreement with the Autorit des marchs financiers (AMF) that will conclude the Quebec regulatory agency’s examination into the business practices of the property and casualty insurance brokerages that Equisure represents in the province.Under…
The Insurance Brokers Association of Canada (IBAC) has expressed its disappointment with the recently announced demise of the CSIO Portal Project.“It is with great disappointment for IBAC that the portal project will not continue growing to better serve the needs…
The CSIO Portal Project a technology project conceived six years ago to improve the efficiency of workflow between independent brokers and insurers will be “winding down” immediately, the Centre for the Study of Insurance Operations (CSIO) has announced in a…
PetCare Insurance Brokers Ltd. has expanded its underwriting relationship with Lombard General Insurance Company of Canada so that, effective March 1, 2006, Lombard will increase its participation in the underwriting of Canadian PetCare pet insurance programs from 50% to 100%.Oakville,…
Winterthur Group is selling Winterthur Canada Financial Corporation and its wholly owned subsidiary, The Citadel General Assurance Company, to AXA Canada Inc. a wholly-owned subsidiary of AXA S.A. – for approximately Cdn$310 million.The sale of its Toronto-based operations completes Winterthur’s…
The Insurance Brokers Association of B.C. (IBABC) will urge the B.C. provincial government to include restrictions on credit scoring in the next Insurance Act, contrary to what Canadian Underwriter recently posted on its News Daily Web site, according to Chuck…
Markel International, the international property and casualty insurer, has announced the first official day of trading for its Canadian branch, MINT Canadian Specialty Underwriters (MCSU), located in Toronto.Markel Corporation markets and underwrites specialty insurance products and programs for a variety…
Hurricanes Katrina and Rita were “insurance-market-changing” events that many US insurers say will return property insurance rates to their 2003 levels, according to a white paper released by Marsh & McLennan Cos.“Catastrophe rate increases are ranging from 10% to more…
The Financial Services Authority (FSA) recently announced it may force insurance brokers to disclose the fees they get from insurers unless they significantly improve the way they manage their conflicts of interest.The FSA sent a letter to chief executives quoting…
Integro Ltd. has expanded into the London, England marketplace, acquiring Humphreys Haggas Sutton & Co. Ltd (HHS).HHS is a Lloyd’s broker founded in 1994 by its three principals, Toby Humphreys, Simon Haggas and John Sutton. Integro has received regulatory approval…
Willis (NYSE: WSH) recently engaged in two acquisitions and will continue making purchases in its strategic move to boost its regional business.Most recently, Willis reached agreements to buy Peruvian broker JH Asesores y Corredores de Seguros (JHA) and Brazilian benefits…
A Whitehorse woman who operated the Yukon-based insurance agency Territorial Insurance Solutions is facing dozens of fraud charges after leaving Yukon customers who purchased insurance through Territorial without any valid coverage.Joanne Walker recently stated she will be pleading guilty to…