Industry
Western Financial Group has acquired Early Insurance in Thompson, Manitoba, and Southern Insurance Management in Lethbridge, Alberta.Southern Insurance Management has been operating as a family-run business in Lethbridge for more than 50 years, with services and products in both commercial and personal lines. “We now have a significant presence in two more key locations in […]
By Canadian Underwriter | January 4, 2008
1 min read
Thousands of Quebecers will be travelling on the dime of an online travel risk management service, thanks to more than five inches of snow that fell at Pierre Elliot Trudeau International Airport in Montreal. itravel2000’s Let it Snow promotion offered Canadian consumers who booked a qualifying package vacation, hotel or flight by Dec. 7, 2007 […]
By Canadian Underwriter | January 3, 2008
2 min read
The Insurance Bureau of Canada is praising the success of Canada’s 2007 Operation Red Nose campaign, which provided a total of 76,880 rides throughout seven provinces over the winter holidays.The IBC said this “was made possible only with the help of more than 53,898 volunteers whose participation was crucial to the tremendous success of the […]
An insured arranging to have his vehicle stolen in lieu of keeping up payments on the vehicle is the Number 1 fraud for 2007, according to Manitoba Public Insurance’s (MPI) list of Top 5 frauds for 2007. Number 2 on the list was a man who claimed he had accidentally driven his truck into the […]
By Canadian Underwriter | January 2, 2008
State Farm Insurance is issuing refunds to roughly 23,000 automobile policyholders in Ontario. The average refund is about Cdn$120.The refund is due to an error in the application of the Graduated License Discount (GLD) and Driver Inexperience Factor surcharge (DIF), the company announced in a release. Customers entitled to a refund will receive written notification […]
Reinsurance rates continued to soften during 2008 renewals, according to separate reports issued by two leading global reinsurance and insurance brokers.Reinsurance broker Guy Carpenter, in a report entitled ‘Near Misses, Plentiful Reminders: Global Reinsurance Review, January 2008,’ notes “property catastrophe reinsurance rates were down an average of 9% across all markets at Jan. 1, 2008 […]
Kingsway Financial Services has entered into a 365-day, Cdn$70-million credit facility agreement with a syndicate of banks. The Bank of Nova Scotia acted as administrative agent, lead arranger and bookrunner, while the Royal Bank of Canada acted as documentation agent.In a press release announcing the agreement, Kingsway said the Cdn$70-million credit facility is supplemental to […]
Corporate exposure to liability for environmental damages related to greenhouse gasses is expected to increase, according to a report by Willis’ North American Environmental Practice. As a result, D&O exposure is expected to increase as well, as governmental agencies and environmental advocacy groups get closer to proving a link between climate change and the emission […]
By Canadian Underwriter | January 1, 2008
Average hull and liability lead premium for airline insurance has fallen by over 15% during the first nine months of 2007, according to Aon’s Airline Insurance Market Review: Pre-Renewal Season 2007 report.These reductions began in the final quarter of 2006. Of the 112 programs for which Aon had access to renewal data, 68% saw their […]
OIAA president Alan Gallagher says the association is employing job fairs as one way to recruit caring people with a well-rounded education into the profession
By David Gambrill | December 31, 2007
6 min read
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