Segment
Risk Management
Forest fire forces evacuation of Okanagan Valley town
September 6, 2011 by Canadian UnderwriterA forest fire that broke out on Sept. 5 has forced the evacuation of 550 people near Kelowna, B.C., the Globe and Mail reports. The 20-hectare blaze started on the west side of Okanagan Lake and has forced the evacuation…
Insurers still slow to account for climate change in their business models: Ceres report
September 1, 2011 by Canadian UnderwriterOnly 11 of 88 major U.S. insurers surveyed recently have formal policies in place to deal with growing climate change risks, according to a new report issued by Ceres.The report was to have been delivered at a conference of the…
Alberta insurers see net and underwriting income tumble in 2011 Q2
September 1, 2011 by Canadian UnderwriterA group of six Alberta incorporated property and casualty insurers reported a drop in consolidated Q2 net income, from $32.2 million in 2010 Q2 to $22.4 million in 2011 Q2.The six insurers include:•Alberta Motor Insurance Company;•Canadian Farm Insurance Company;•Fortress Insurance…
A New Breed of Cats?
September 1, 2011 David Gambrill, EditorInsurers would be doing a real service to their communities (and the industry) by supporting and sharing climate change research that helps the public understand whether or not it’s facing a new breed of cat.
MarketPlace
September 1, 2011 by Canadian UnderwriterClaims Weakened Irene wreaks havoc in Quebec, Maritimes The verdict is still out on insured losses caused by Hurricane Irene in Canada, but loss estimates for the United States range between $3 billion and $6 billion (AIR Worldwide) and for…
M&A Fireworks
September 1, 2011 David GambrillBetween 2005 and 2007, analysts routinely predicted an exciting explosion of mergers and acquisitions activity in the fragmented Canadian P&C market. But not much happened, and then the financial crisis doused the party in 2008-09. Now, M&A activity seems to be lighting up the Canadian P&C landscape. Do these deals suggest future M&A fireworks, or are they a prelude to a dud?
Re-calibrating Risk Management
September 1, 2011 by Canadian UnderwriterRobert McDowell, Financial Insitutions and Services Group, Fasken Martineau DuMoulin LLP; and Koker Christensen, Financial Institutions and Services Group, Fasken Martineau DuMoulin LLP The financial crisis revealed many financial institutions around the world did not fully appreciate the risks to…
Moves & Views
September 1, 2011 by Canadian UnderwriterCredit scoring should be banned throughout Canada, according to more than half (58%) of respondents to www.canadianunderwriter.ca‘s latest online poll. Of the 163 respondents, 42% said “no” to an all-out ban on the use of credit scoring in Canada. Greg…
WICC Ontario Golf Tournament
September 1, 2011 by Canadian UnderwriterMore than 220 golfers attended the 12th annual WICC Ontario Golf Tournament on July 11 at Angus Glen Golf Club in Markham, Ontario. Attendees enjoyed a barbeque lunch, silent auction, raffle and dinner. A WICC cheque for $250,000 was presented…
Catlin Canada cocktail party
September 1, 2011 by Canadian UnderwriterCatlin Canada hosted a cocktail party on June 29 to “officially” open its Montreal office. More than 100 brokers enjoyed great music, food and drinks. Managed by Pat Bruzzese, the new office is located at 1411 Peel St.
Western Financial Group acquires two more brokerages
August 31, 2011 by Canadian UnderwriterWestern Financial Group has acquired two more insurance agencies, one in Manitoba and the other in Saskatchewan. Western Financial acquired David Duncan Insurance Agency in Gilbert Plains, Manitoba and Leith & Glassford Agency Ltd. in Rosetown, Saskatchewan. Both firms will…
About 44% of young Canadians go to the United States without travel insurance
August 30, 2011 by Canadian UnderwriterJust under half (44%) of young Canadians polled in May 2011 say they rarely or never purchase travel insurance when traveling to the United States.Furthermore, more than half (56%) of young travelers said they don’t take the time to understand…