Segment
P&C Companies
What’s New: In Brief (July 06, 2007)
July 6, 2007 by Canadian UnderwriterMike Lowthlan has joined Kernaghan Adjusters Toronto office as an executive adjuster. Mikes illustrious career has spanned over three decades, during which time he has earned a well-deserved reputation as a respected executive adjuster in the Ontario market, Patti Kernaghan,…
Royal & SunAlliance shuffles executive team
July 6, 2007 by Canadian UnderwriterRoyal & SunAlliance Canada (R&SA) has announced three executive team appointments, including: Shawn Desantis as senior vice president, R&SA; Steve Knoch as vice president, underwriting operations and information services; and Mike Jakeman, CEO for R&SA Greater China.DeSantis, in his newly…
What’s New: In Brief (July 05, 2007)
July 5, 2007 by Canadian UnderwriterCanadian champion speed demon Paul Tracy has teamed up with the Insurance Bureau of Canada (IBC) to deliver the message that 220 km-h speeds are suitable for a racetrack, not public roads.If you want to prove yourself behind the wheel,…
Dickson mans helm of OSFI
July 5, 2007 by Canadian UnderwriterJulie Dickson has been appointed to the role of superintendent of financial institutions. The Minister of Finance Jim Flaherty announced Dicksons seven-year term, which is effective immediately. I am pleased Ms. Dickson has agreed to serve in this role to…
Rear crash tests show newer SUV head restraints safer
July 5, 2007 by Canadian UnderwriterThe redesigned Toyota Tundra was the only pickup truck rated with a good seat/head restraint crash protection by the Insurance Institute for Highway Safety (IIHS).The tests were performed using the Insurance Corporation of British Columbia (ICBC)-developed Head Restraint Measuring Device,…
What’s New: In Brief (July 05, 2007)
July 5, 2007 by Canadian UnderwriterA.M. Best Co. has affirmed the financial strength rating of A (excellent) of Royal Bank of Canada Insurance Company Ltd. (RBCI). RBCI benefits from a very secure equity capital base, a broad geographical spread of risk, which is concomitant with…
Facilities Association calls attention to market share of Alberta’s risk-sharing pools
July 4, 2007 by Canadian UnderwriterThe market share of Albertas risk-sharing pools is high by North American standards, standing at at 11.5% on a written exposure count basis and 18.5% on a written premium volume basis, according to Facility Association in its submission to the…
A.M. Best rates ING ‘A+’ but warns of soft market impact on profits
July 4, 2007 by Canadian UnderwriterA.M. Best Co. has affirmed the financial strength rating of A+ of the ING Canada Group, but noted: ING Canada will be challenged to maintain current profitability levels due to pricing pressure from competitors for commercial lines products and the…
Territorial limit in policy applies to underinsured motorist endorsement
July 4, 2007 by Canadian UnderwriterThe territorial limitation contained in an automobile insurance policy and in the Insurance Act restricts coverage provided in the underinsured motorist endorsement, the Ontario Court of Appeal ruled on July 3.In Pilot Insurance Company v. Sutherland, the Appeal Court ruled…
What’s New: In Brief (July 04, 2007)
July 4, 2007 by Canadian UnderwriterTesfaye 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…
Terrorism threat level heightened in Canada
July 3, 2007 by Canadian UnderwriterThe 2007 Aon Terrorism Threat Map shows that Canadas threat levels have increased from 2006 even though the map shows a weakening of the Islamist terrorist group Al Qaeda, as well as the other groups operating under its umbrella.The global…
CN tower terrorist attack could cost Cdn$23.5 billion in damages
July 3, 2007 by Canadian UnderwriterIf a small dirty bomb were to be detonated near the CN Tower in Toronto, the economic impact would be upwards of Cdn$23.5 billion, according to a federal study led by Defence Research and Development Canada, as reported by Canadian…