Industry
Zurich president and CEO Robert Landry will be retiring as head of Zurichs Canadian operations at the end of this year. Alister Campbell will be appointed chief agent and CEO for Zurich Insurance Company in Canada, subject to board and regulatory approval, a company release notes. Campbell most recently served as senior vice president, planning […]
By Canadian Underwriter | October 16, 2007
1 min read
A passenger who got out of a taxicab and fell on her way into a hotel was not injured as a result of an accident as defined in subsection 2(1) of the Statutory Accident Benefits Schedule (SABS), the Financial Services Commission of Ontario (FSCO) has found on appeal of Webb v. Lombard General Insurance Company […]
By Canadian Underwriter | October 15, 2007
2 min read
EGI Financial Holdings Inc. announced it has taken a US$20-million [approximately Cdn$19.54-million], non-revolving term loan with the Bank of Nova Scotia.The loan will help EGI Financial reinsure niche and specialty line insurers underwriting business in the United States through its subsidiary CIM Reinsurance. We anticipate this facility will provide us with the flexibility needed to […]
Specialty program markets appear to be actively seeking profitable new business, both from new program administrators and existing partners, by building product and volume, according to a recent survey by Guy Carpenter & Company LLC.The survey canvassed an undisclosed number of domestic insurance companies that write specialty program business through program administrators.Issuing carriers were asked […]
By Canadian Underwriter | October 12, 2007
Insurers are right to deny coverage and are relieved of the duty to defend the owner and driver of a vehicle involved in a collision in cases in which the driver does not have a valid license, the Ontario Superior Court of Justice ruled in Miller (Litigation Guardian of) v. Carluccio. MacKenzie Miller, the plaintiff, […]
A change in intra-quarterly results does not necessarily signal a material change that requires public disclosure, the Supreme Court of Canada has ruled in Kerr v. Danier Leather Inc.The courts decision in the securities case related to financial disclosure might have some bearing on directors and officers insurance in the future. In Kerr, the Supreme […]
Despite a slight reduction in frequency of class actions against boardroom executives in the United States, its too early to say weve entered a Brave New World of good corporate behaviour because of the Sarbanes-Oxley Act [SOX], a reinsurer told delegates of a PLUS Canada seminar in Toronto.The U.S. government in 2002 passed SOX, which […]
By Canadian Underwriter | October 11, 2007
Brian Taylor and Lisa McCabe have been appointed branch managers of Cunningham Lindseys Halifax and Vancouver offices, respectively. Taylor was a complex claims analyst for a large Canadian insurer prior to the appointment, and McCabe served as a unit claims manager for a large insurance carrier. We are excited to have Brian join the Cunningham […]
Royal & SunAlliance Insurance Company of Canada (R&SA) has teamed up with Policy Works Inc. to exchange commercial lines data electronically. This will make it easier for brokers using Policy Works to obtain quotes on commercial lines business from R&SA, according to press release issued by Royal & SunAlliance.The integration of Rapid eQuote, R&SAs web-quoting […]
By Canadian Underwriter | October 10, 2007
Connecticuts attorney general Richard Blumenthal has launched an antitrust lawsuit against 10 reinsurers, alleging anticompetitive practices that inflated insurance costs for insurance companies and consumers.The attorney generals allegations have not been proven in court. The principle defendant in the case, Guy Carpenter & Company LLC, says it plans to defend itself vigorously in the resultant […]
By Canadian Underwriter | October 9, 2007
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
