Segment
Risk Management
Willis North America launches bed bug protection product
June 28, 2011 by Canadian UnderwriterWillis North America has launched ‘Bed Bug Infestation Recovery Insurance’ for hotel, hospitality and residential property owners.The product includes:•insurance to cover the cost of decontamination services;•insurance to cover the cost of rehabilitation expenses;•insurance to cover the loss of profit due…
Trisura first insurer to fully implement Snap Insurance platform
June 28, 2011 by Canadian UnderwriterTrisura Guarantee Insurance Company has implemented Kerby-Reid’s Snap Insurance Platform, allowing it to create fully customized policies in its niche markets on the fly. The technology platform is designed for specialty, niche and program business. It is a true quote,…
ADP Canada launches ADP Insurance Solutions
June 28, 2011 by Canadian UnderwriterADP Canada, a provider of human resources and payroll solutions, is launching ADP Canada Insurance Agency Inc. (ADP Insurance Solutions), providing small and medium-sized businesses with end-to-end benefits management solutions.“Our clients have consistently told us that insurance costs are a…
DriveCam comes to Canada
June 28, 2011 by Canadian UnderwriterDriveCam Inc., a global driver risk management company, is expanding its driver risk management, fuel management and fleet tracking solutions into Canada. DriveCam pioneered a solution in 1998 that enables continuous driver monitoring and exception-based video capture to identify patterns…
Nicholl Paskell-Mede LLP to join forces with Clyde & Co.
June 27, 2011 by Canadian UnderwriterCanadian insurance law firm Nicholl Paskell-Mede LLP (NPM) will be joining forces with U.K.-based law firm Clyde & Co. effective Sept. 1, 2011. International law firm Clyde & Co. specializes in the areas of aviation, insurance, marine, energy, construction and…
Heavy rains cause flooding damage in Ottawa-Gatineau area
June 27, 2011 by Canadian UnderwriterThe Insurance Bureau of Canada is asking residents in the Ottawa-Gatineau area to check their policies after heavy rainstorms resulted in property damage caused by sewer backup and water seepage.The Weather Channel reports the Gatineau area of Quebec had almost…
The Co-operators sponsors fundraising festival for Slave Lake
June 27, 2011 by Canadian UnderwriterAs the title sponsor of the Concert for Hope, The Co-operators has committed $50,000 to help raise funds for the residents of Slave Lake, Alberta.The Concert of Hope will take place from June 30 to July 2 at Wide Water…
Severe weather losses from April and May triple annual average in U.S.
June 27, 2011 by Canadian UnderwriterLosses stemming from severe weather in the United States during April and May were nearly triple the 1990-2010 annual average for severe weather losses, an Aon Benfield report says.Insured losses during the two-month period are estimated at $15 billion. Total…
Jardine Lloyd Thompson teams up with Canadian Paralympic Committee
June 24, 2011 by Canadian UnderwriterJardine Lloyd Thompson (JLT) Canada, a risk management insurance supplier, is teaming up with the Canadian Paralympic Committee (CPC) to offer national sport organizations risk management tools for hosting sporting events.The new, four-year partnership between JLT and CPC started on…
A.M. Best upgrades rating of Western Financial Insurance Company to A-
June 24, 2011 by Canadian UnderwriterA.M. Best Co. has upgraded the financial strength rating (FSR) to A- (Excellent) from B+ (Good) and issuer credit rating (ICR) to “a-” from “bbb-” of Western Financial Insurance Company (WFIC), based in Winnipeg, Manitoba. The rating upgrade follows the…
Private U.S. insurers see 2011 Q1 underwriting losses more than double: IIS
June 23, 2011 by Canadian UnderwriterPrivate U.S. property and casualty insurers’ net underwriting losses grew to $4.5 billion in 2011 Q1 from an underwriting loss of $1.8 billion in 2010 Q1, reported the Insurance Information Institute.The figures are consolidated estimates for all private property/casualty insurers…
Companies expanding role of finance departments to take on risk management responsibilities: survey
June 23, 2011 by Canadian UnderwriterChanges in the business and regulatory landscape are driving more companies to expand the role of finance departments to take on financial risk management responsibilities, according to a study by Protiviti.Protiviti polled nearly 200 finance executives from around the world,…