Industry
The Insurance Corporation of British Columbia (ICBC) failed to prove an insured tried to defraud the corporation by faking the theft of his minivan, and B.C.’s provincial court ordered the public insurer to allow the claim. In Brummitt vs. ICBC, Michael Brummitt filed a claim in June 2005 with ICBC that his 1999 Dodge Caravan […]
By Canadian Underwriter | December 20, 2007
2 min read
PPG Canada Inc. and the CertifiedFirst Network have announced a platinum level sponsorship renewal of WICC (Women in Insurance Cancer Crusade). In the first three years of sponsorship of WICC, PPG worked closely with WICC and attended several key events that helped raise close to Cnd$3 million for the Canadian Cancer Society since 1997.”We at […]
1 min read
Winifred “Wendy” Baker, who in 1990 became the first woman to lead a reinsurance company, will step down after nine years as president of Lloyd’s America Inc. at the end of December 2007, A.M. Best has reported.Baker managed Lloyd’s offices in Montreal, New York, Chicago, Los Angeles, Kentucky and the Virgin Islands. Baker, who reportedly […]
Giffin Koerth has added two new engineers to the roster James Wheeler and Val Chlistovsky. “Both gentlemen bring our property division strong expertise and continue to fulfill Giffin Koerth’s desire to always improve our level of service to the insurance, construction, and legal industry,” the company notes. Wheeler brings with him 22 years of experience […]
Kingsway Financial Services Inc. [KFSI] has reported a reserve increase at its Lincoln General subsidiary in 2007 Q4.”Following further review of trends in claims development at its Lincoln subsidiary, including the updated indications provided by the company’s external appointed actuary, the company expects to increase its claims incurred by between US$95 million and US$125 million […]
By Canadian Underwriter | December 19, 2007
The 2008 edition of the Ontario General Insurance Hockey Tournament will run Apr. 18-20, 2008 in Fort Erie/Welland, with proceeds going towards Big Brothers and Big Sisters.Big Brothers and Big Sisters [B.B.B.S] operate Camp McGovern, a camp established in 1971 for youth involved in B.B.B.S. programs across Ontario. In 2007, the hockey tournament raised Cdn$30,000.00 […]
The Insurance Bureau of Canada (IBC) says its investigations over the past few years illustrate an alarming trend in Canada of organized auto theft rings targeting high-end or desirable vehicles with the intention of exporting them overseas or chopping them for parts. It made it observation as it as it released its list of the […]
The National Insurance Conference of Canada (NICC) has re-launched its Web site, containing new videos and photographs from the 2007 conference. The 2008 annual NICC will be held at the Hilton Lac-Leamy in Gatineau-Ottawa on Oct. 1-3, 2008. The 2008 NICC Advisory Committee is currently working to finalize arrangements for the October conference. An initial […]
By Canadian Underwriter | December 18, 2007
Focussing more exclusively on the risk brokerage and consulting side of its business, Aon Corporation has signed a definitive agreement to sell 100% of the outstanding stock of Combined Insurance Company of America and certain of its subsidiaries to ACE Limited for US$2.4 billion in cash. Combined Insurance Company of America, founded in 1919 and […]
A British Columbia resident was ordered by a B.C. Supreme Court judge to pay the Insurance Corporation of British Columbia (ICBC) Cdn$87,337 in damages to recover the costs paid out for stolen vehicle claims. The ruling concludes a civil action filed by ICBC against Cole Owens in November 2006. The litigation related to four stolen […]
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