Segment
Risk Management
The Co-operators reports decrease in net income in 2010 Q4, 2010 annual profit up 8%
February 17, 2011 by Canadian UnderwriterCo-operators General Insurance Company reported a net income of $53.9 million in 2010 Q4, marking a decrease from $82.6 million in 2009 Q4.On an annual basis, the insurer reported an increase in profit to $80.7 million in 2010 from $74…
New Brunswick Insurance Board says auto insurers should not be offering deductibles on DCPD coverage to commercial consumers
February 17, 2011 by Canadian UnderwriterThe New Brunswick Insurance Board is asking all insurers writing commercial automobile insurance policies in New Brunswick to review their book of business for any possible instances in which deductibles may have been offered on Direct Compensation-Property Damage (DCPD) coverage…
Demand in the United States for terrorism risk insurance levels off
February 17, 2011 by Canadian UnderwriterTerrorism risk insurance is available and affordable in the United States, but demand remains flat even as the danger of an act of terror may be at its highest level since Sept. 11, 2001, according to the latest issue of…
Pembridge and Brovada launch real-time broker solution
February 16, 2011 by Canadian UnderwriterPembridge Insurance Company and Brovada Technologies have launched ‘Broker Connectivity Upload,’ the second-phase of a joint venture offering real-time transactions aimed at improved broker workflows. Broker Connectivity Upload allows brokers to begin and end a new business transaction in their…
Australian estimated flood losses double to $2 billion
February 16, 2011 by Canadian UnderwriterThe Insurance Council of Australia has essentially doubled the estimated insured losses arising from the Queensland floods to $2 billion. Preliminary estimates fell into the $150-million range, and by Jan. 31, 2011 ICA increased its estimate to $1.15 billion. To…
Willis North America names director of operations
February 16, 2011 by Canadian UnderwriterWillis North America has appointed Jeff Elliott as director of operations, a newly created position. Elliott’s role will be to refine Willis North America’s target operating model and oversee its major technology initiatives. In addition, he will develop standards and…
Changes to the Environmental Act cover contaminated sites, not spills
February 15, 2011 by Canadian UnderwriterWhen considering forthcoming changes to the clean-up standards applicable to contaminated sites under Part XV.1 of the Environmental Protection Act (EPA), it is important to understand these standards do not generally govern regulatory clean-up obligations for spills or legal obligations…
Marsh reports increase in 2010 revenue
February 15, 2011 by Canadian UnderwriterMarsh reported total revenue of $10.6 billion in 2010, marking an increase from 2009’s revenue of $9.8 billion.In 2010 Q4, the company reported $2.8 billion in revenue, marking an increase from $2.6 billion in revenue over the same period in…
The Economical gets kudos for training initiatives
February 14, 2011 by Canadian UnderwriterTraining Magazine has ranked The Economical Insurance Group second on its ‘Training Top 125′ for 2011.The Training Top 125 is an annual ranking that honours organizations that offer “outstanding employer-sponsored workforce training and development,” an Economical release says.This is the…
Rogers Insurance Ltd. announces new staff appointments
February 14, 2011 by Canadian UnderwriterRogers Insurance Ltd., an employee-owned independent brokerage in Western Canada with 200 employees, has announced a number of new staff appointments. Karyn Fair has been appointed vice president of commercial lines. She has been with Rogers for seven years and…
FirstOnSite launches business preparedness program
February 11, 2011 by Canadian UnderwriterFirstOnSite Restoration has launched a national campaign to raise awareness of how unprepared many Canadian companies are to deal with manmade or natural disasters.The Priority Response Emergency Plan (PREP) is designed to help commercial companies be prepared in the event…
Everest Re Group expands further into Canadian market
February 11, 2011 by Canadian UnderwriterEverest Re Group has boosted its Canadian presence, acquiring Premiere Underwriting Services and some operations of Executive Risk Insurance Services Ltd.Premiere Underwriting Services is a Toronto-based managing general agent specializing in entertainment, sports and leisure related risks. Moving forward, Premiere…