Industry
One of ING Canada’s key strategies is to pursue value-creating acquisitions that fit into its current business line, Claude Dussault, president & CEO of ING Canada told delegates at the Scotia Capital Financials Summit Conference. Dussault discussed the company’s goals going forward, which, he said are two-fold. First is to outperform the industry in terms […]
September 30, 2007
2 min read
The Ontario Court of Appeal has sent a warning shot across the bow to insurers: notifying an insured that an OPCF 28A Excluded Driver Endorsement has been issued is not sufficient; a copy of the actual endorsement must be sent to the insured to satisfy the requirements of the Insurance Act.In GMAC Leasco Corporation v. […]
By Canadian Underwriter | September 28, 2007
The Insurance Brokers Association of Canada announced its board of directors and executive committee for 2007-2008 at its annual general meeting in Whistler, B.C.The executive committee is comprised of: Larry Kozakevich, chairman; Danny Craig, president; Peter Fredericks, president-elect; Justin MacGregor, vice-president; and Andrew Walker, vice-president.The national directors are as follows: Fraser Lyle, British Columbia, Ralph […]
By Canadian Underwriter | September 26, 2007
1 min read
The insurance industry has to set up a protocol for the exchanging of information between insurers thats consistent among all insurers, Norman Groot, lawyer, Investigation Counsel PC, told delegates at the Annual Toronto Fraud Forum. Certainly, I would encourage everyone to exchange information for the purposes of fighting fraud, Groot said. He noted that in […]
By Canadian Underwriter | September 25, 2007
With the issue of the Bank Act officially retired as of early this year (for another five years, at least), the Insurance Brokers Association of Canada (IBAC) is now setting its sights on what brokers do when they choose to retire.Specifically, IBACs new president, Danny Craig, told delegates at the associations 2007 annual general meeting […]
By Canadian Underwriter | September 24, 2007
Canadian corporations need to be cognizant of the type of investigation costs covered in their Directors and Officers (D&O) liability policies, a report from Aons Canadian Financial Services Group warns. Companies need to consider whether, and to what extent, it wishes its D&O policy to cover investigative costs, wrote Brian Rosenbaum, Legal and Research Practices, […]
By Canadian Underwriter | September 20, 2007
Hub Ontario, a subsidiary of Hub International Limited, entered into a definitive agreement to acquire all of the stock of Totten Insurance Group Inc. (Totten), a Canadian specialty insurance wholesaler that develops niche products and provides solutions for unusual lines of business. Totten, together with Hub Ontario’s existing wholesale companies, will operate as a separate […]
By Canadian Underwriter | September 19, 2007
A prolonged soft market may lie ahead for the Canadian property and casualty insurance market, according to a special report by A.M. Best.There’s no room for complacency as Canadian property/casualty insurers enjoy another solid year, the ratings agency wrote in a press release announcing the availability of the Sept. 18, 2007 report. Profitable underwriting, growth […]
Canadian resident Ian Stuart Smith has been sentenced to more than eight years in prison for his part in a fraud scheme, in which insurance agents for various entities throughout the United States and Canada were induced to purchase millions of dollars of fraudulently issued commercial liability insurance policies.Smith received his 97-month sentence in New […]
Crawford & Company (Canada) Inc. raised more than Cdn$10,000 for the Women in Insurance Cancer Crusade (WICC) at its 13th annual Crawford Classic charity golf tournament held in Toronto on Sept.12, 2007. Golfing during unseasonably cold weather has become somewhat of a Crawford tradition, the company noted in a press release, but Crawford clients and […]
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