Industry
Western Financial Group has acquired Alberta-based Younger and Holmes Limited and Firmac Insurance Limited. Our agency continues to expand in growing communities in Western Canada, Scott Tannas, president and CEO of Western Financial Group, said in a release. Both operations have strong market share in their respective communities. Proposed U.S. legislation has created a debate […]
By Canadian Underwriter | October 9, 2007
2 min read
The Ontario Court of Appeal has upheld that Ontarios no-fault auto insurance regime prohibits all tort actions for recovery of property damage against a negligent party including subrogated claims brought by insurers.In Clarendon National Insurance v. Candow, Signothahack Bounthai, a Brampton, Ontario resident, is the owner-operator for an American trucking company located in Texas. His […]
By Canadian Underwriter | October 5, 2007
Eleven insurance companies headquartered in the Chaudiere-Appalaches region of Quebec are creating the Centre de developpement en assurances et services financiers (Insurance and Financial Services Develop Centre) as a way to ensure continued growth. The board of directors for the new non-profit centre is comprised of the presidents of the 11 companies involved in the […]
1 min read
i-flex solutions, an global IT solutions provider, has acquired the remaining shares of Toronto-based Castek Software Inc., which provides core insurance business processing systems for large- and mid-sized property and casualty insurers.The transaction is expected to close by March 2008. iflex became Casteks largest shareholder in August 2005, when it entered into an equity financing […]
La Capitale General Insurance and Michelin have joined forces to promote safer winter driving in Quebec. As an insurer, La Capitale General Insurance feels a sense of responsibility towards the safety of Quebecers and wishes to take part in any effort aimed at reducing the number of automobile accidents, which in turn protects the life […]
By Canadian Underwriter | October 3, 2007
Allstate Insurance Company of Canada has launched a new product, Your Choice Home, which allows consumers to personalize their home insurance. Customers will be able to select a home insurance policy that suits their needs and will now be able to add on specialty coverages which are reflective of a customers lifestyle, according to a […]
Competition for both brokers and underwriters will increase and grow more intense, keeping regulatory intervention at bay, Patrick Ryan, executive chairman, Aon Corp., told delegates at the National Insurance Conference of Canada in Montreal.During the one-on-one session with George Cooke, president and CEO of the Dominion of Canada General Insurance Company, Cooke asked Ryan if […]
Sedgwick Claims Management Services, Inc. (Sedgwick CMS) has launched an advanced user-managed alert feature, which will notify clients of changes in the status of claims in the JURIS claims management information system, a release reports. The new feature is included with viaOne view, which is part of the viaOne suite of web tools that provide […]
By Canadian Underwriter | October 2, 2007
Ontario insurers need to raise their auto rates in order to make up for escalating loss ratios, and this could [and should] happen shortly after Ontarios election is over on Oct. 10, according to an actuary presenting on a panel at the National Insurance Conference of Canada (NICC) in Montreal.Barb Addie, an actuary at Baron […]
Optimum General Inc. has become a Full Partner of the Broker Identity Program (BIP) for 2007, the Insurance Brokers Association of Canada (IBAC) announced.By investing in the program, Optimum supports the message being delivered every day to consumers, legislators, government officials, and regulators about the value brokers provide, Jean-Claude Pag, president and CEO of Optimum […]
By Canadian Underwriter | October 1, 2007
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