XL Catlin appoints Nick Greggains as CEO of Canadian insurance operations
March 4, 2016 by Canadian UnderwriterXL Catlin announced on Friday the appointment of Nick Greggains as chief executive officer of XL Catlin’s Canadian insurance operations. In his new role, Greggains leads XL Catlin’s regional business strategy and guides the development and delivery of innovative insurance…
GC Securities completes cat bond notes on behalf of XL Insurance
March 4, 2016 by Canadian UnderwriterFor the first time since XL Group plc’s acquisition of Catlin Group Limited, XL Catlin has utilized the 144A cat bond market as part of catastrophe bond Galileo Re Ltd., which provides aggregate protection against, among other things, earthquakes affecting…
Trillium Mutual launches data breach and cyber coverage for agriculture, commercial lines
March 4, 2016 by Canadian UnderwriterTrillium Mutual Insurance Company has partnered with The Boiler Inspection and Insurance Company of Canada (HSB BI&I) to launch two new products for small to medium-sized commercial and agricultural operations. Providing indemnity for first-party expenses and third-party costs of defence,…
Judge finds ICBC liable for malicious prosecution, awards woman nearly $400,000
March 3, 2016 The Canadian PressVANCOUVER – A British Columbia judge has awarded a woman who “experienced the wrath” of the province’s insurance corporation nearly $400,000. Supreme Court Justice Susan Griffin said in a written decision released Wednesday that the Insurance Corporation of British Columbia…
Underinsured furniture vendor loses lawsuit against landlord arising from water damage
March 3, 2016 by Canadian UnderwriterThe Court of Appeal for Ontario recently ruled against a furniture and lighting fixture dealer, whose premises were flooded, based in part on a trilogy of Supreme Court of Canada rulings from the 1970s involving agreements to insure between landlords…
Gore Mutual makes capital investment in tech start-up BrokerLift
March 2, 2016 by Canadian UnderwriterGore Mutual Insurance Company announced on Wednesday that it has made a capital investment in Toronto-based technology start-up Brokerlift Inc., an eCommerce platform designed specifically to enable brokers to compete effectively with other online distribution channels. As part of their…
Effective software vendor selection key to eSignatures benefits, broker forum hears
March 2, 2016 Jason Contant, Online EditorCareful selection of an eSignatures software vendor can help improve adoption rates and provide immediately noticeable benefits, a speaker suggested on Tuesday during a presentation at the Insurance Canada Broker Forum. Amanda Ketelaars, operations manager at Mitchell & Whale Insurance…
Court paves way for professional accountant regulator to pursue claim against former corporate director who settled securities class-action lawsuit
March 2, 2016 by Canadian UnderwriterThe governing body regulating chartered accountants in Ontario has the right to pursue action against a former chief financial officer and director of Sino-Forest Corp., despite the fact that the former company official reached a settlement in a shareholders’ class-action…
Desjardins General Insurance Group’s combined ratio improves 4.6 points in Q4 2015 from Q4 2014
March 2, 2016 by Canadian UnderwriterDesjardins General Insurance Group (DGIG), a Desjardins Group subsidiary specializing in property and casualty insurance, has reported a combined ratio of 88% for the fourth quarter of 2015, ending Dec. 31, 2015, down from 92.6% in the same quarter of…
Data space can empower brokers, broker forum hears
March 1, 2016 Jason Contant, Online EditorBrokers need to get more into the data space, understanding that data actually belongs to the customer, suggested Hugh McTavish, president of InsureMy and Godfrey-Morrow Insurance and Financial Services Ltd., at the Insurance Canada Broker Forum on Tuesday. Speaking during…
XL Group proposes to relocate from Ireland to Bermuda
March 1, 2016 by Canadian UnderwriterTen months after it completed its acquisition of Catlin Group Ltd., insurance carrier XL Group plc is proposing to change its place of incorporation to Bermuda. XL’s principal offices are currently in Dublin, Ireland. In Canada, XL’s coverages include commercial…
JLT Group’s underlying profit down 7% to 170.1 million in 2015
March 1, 2016 by Canadian UnderwriterPlanned investment in its United States business contributed to Jardine Lloyd Thompson Group plc’s underlying profit before tax falling 7% to £170.1 million in 2015, preliminary results show, but the company reports its overall momentum was sustained despite the challenging…