Segment
P&C Companies
What’s New: In Brief (March 12, 2007)
March 12, 2007 by Canadian UnderwriterThe Honourable Order of the Blue Goose, Ontario pond, is presenting its Annual Charity Scotch Nosing on April 5th at the Saint Andrews Club in Toronto, with all benefits going to the Sean Corner Benefit Fund. Gooses and ganders of…
What’s New: In Brief (March 12, 2007)
March 12, 2007 by Canadian UnderwriterLa Capitale General Insurance has enhanced the scope of its recreational vehicle insurance, now offering watercraft and caravan/motorhome insurance (all types) as a stand-alone insurance product.There is no obligation to obtain a home or automobile insurance contract in order to…
Karen Barkley appointed president and CEO of ACE Canada
March 12, 2007 by Canadian UnderwriterACE INA Insurance and ACE INA Life Insurance, part of the ACE Group of Companies, has appointed Karen Barkley as president and CEO of ACE Canada.She succeeds Daniel Courtemanche, who is now the president and CEO of GCAN Holdings Inc.,…
Aon Re and Benfield reach settlement over defections
March 12, 2007 by Canadian UnderwriterAon Re Global and Benfield Group have reached a global and comprehensive settlement with Benfield Group of all the litigation relating to the defection of former Benfield facultative reinsurance employees to Aon Re.Under the amicable settlement, Benfield will receive payments…
Ontario Bar Association grants Excellence in Insurance Law award
March 9, 2007 by Canadian UnderwriterThe Ontario Bar Association (OBA)s Insurance Law Subsection has announced that Jesse T. Glass of Laxton Glass LLP (Toronto) and Eric R. Williams of Williams McEnery LLP (Ottawa) are the recipients of the 2007 OBA Award for Excellence in Insurance…
New Brunswick’s $2,500 cap on minor injuries upheld
March 9, 2007 by Canadian UnderwriterNew Brunswicks Cdn$2,500 cap on soft tissue and minor personal injuries has just withstood a court challenge in the trial division of the Court of Queens Bench of New Brunswick.In Rossignal v. Rubidge, Court of Queens Bench Justice David H.…
FSCO posts Health Claims for Auto Insurance Rollout (HCAI) Guideline
March 9, 2007 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has released its Health Claims for Auto Insurance (HCAI) Rollout Guideline, which includes, among other things, revised accident benefit claims forms and a Central Processing Agency (CPA), an agent designated to receive accident…
National Bank president says banks need more powers to sell insurance
March 8, 2007 by Canadian UnderwriterNational Bank of Canadas outgoing president and CEO, Ral Raymond, indicated in a Mar. 7, 2007 speech to shareholders that the banks have clearly not given up advocating for changes in the Bank Act respecting insurance.Revisions to the Bank Act,…
EQECAT launches new cat model for offshore energy
March 8, 2007 by Canadian UnderwriterEQECAT is launching a new Offshore Energy Model to help the insurance industry manage this risk.Details about the model will be discussed during EQECATs March 2007 Catastrophe Management Conference. EQECAT noted the storms of 2004-05 caused significant losses in the…
Royal & SunAlliance records 9% premium growth in 2006
March 8, 2007 by Canadian UnderwriterRoyal & SunAlliance Canada reported a strong performance in 2006, with premium growth of 9% and a combined operating ratio of 92%.Royal & SunAlliance Canada reported an underwriting profit of Cdn$100 million, which is 75% above that of the previous…
2006 is third-mildest catastrophe loss year since 1990
March 8, 2007 by Canadian UnderwriterAt US$15.9 billion, insured catastrophe damage in 2006 represented the third-mildest loss year since 1990, according to a Swiss Re sigma report [No 2/2007].Of these insured losses worldwide, natural catastrophes accounted for US$11.8 billion of the total. Storms caused insured…
Enhanced data collection for 2007 catastrophe modelling essential
March 7, 2007 by Canadian UnderwriterEnhancing data collection for catastrophe modeling is imperative for insurers and reinsurers in 2007, according to Ernst & Youngs Quarterly Insurance Industry Outlook.The 2004 and 2005 hurricane seasons revealed weaknesses in commonly used catastrophe risk modeling techniques, the report notes.…