Industry
More and more Canadian insurers are offering identity theft protection as a stand-alone product, reports the Globe and Mail.While policies have been on the market over the past couple of years, typically they have been offered as an add-on to house, apartment and condo insurance for about $30 or $40 a year.Brian Seaton, ING Canada […]
By Canadian Underwriter | January 9, 2007
1 min read
Changes to Nova Scotia’s graduated driver licensing (GDL) program that would include a strengthening of the blood alcohol content restriction on new drivers and an extension of the learner’s stage of the program has gained applause from the Insurance Bureau of Canada (IBC).Acting Transportation and Public Works minister Jamie Muir announced that “the program will […]
By Canadian Underwriter | January 8, 2007
2 min read
This holiday season, more than 1,600 volunteers across New Brunswick participated in Operation Red Nose and ensured more than 1,900 revelers a safe ride home.”Operation Red Nose makes New Brunswick’s road safer during the holiday season,” said Don Forgeron, vice-president, Atlantic, Insurance Bureau of Canada (IBC).”And this excellent service would not be possible without the […]
The ACE Tempest Re Group has expanded into Canadian markets with the establishment of ACE Tempest Re Canada.The Montreal-based, wholly owned managing underwriter will write all lines of property and casualty reinsurance for the Canadian market.Constantin Petalas has been appointed president of the operation and is charged with the responsibility of leading ACE Tempest Re […]
Canadian insurers are increasingly seeking the services of external or unaffiliated actuarial firms to provide actuarial options for annual statutory filings, says an A.M. Best Co. review.”This is perhaps the most striking change in the data gathered as part of A.M. Best Co.’s 2007 annual review of the accounting and actuarial markets in the United […]
By Canadian Underwriter | January 5, 2007
As a response to misconceptions in the public domain about automobile insurance rates, the Insurance Bureau of Canada has launched a report aimed at increasing the general population’s understanding. The report reviews the costs of auto insurance from 2000 until 2005 (the last year that comprehensive statistics are available) as well as consumer perceptions.”This study […]
By Canadian Underwriter | January 4, 2007
BB&T Corporation has completed its acquisition of AFCO Credit Corporation, an insurance premium finance company, and its Canadian affiliate, CAFO Inc., from Mellon Financial Corporation.The move is expected to elevate BB&T from the ninth-largest provider of insurance premium financing in the United States (and the largest in Canada) to the second-largest company in its class […]
Lloyd’s has endorsed a new International Reinsurance Industry Dispute Resolution Protocol, which, according to Lloyd’s, “provides the insurance industry with an alternative to a court case or a lengthy arbitration if a disagreement should arise between reinsurer and client.”In a bulletin on its Web site, Lloyd’s characterized the new facility as “effectively a ‘statement of […]
For the fourth consecutive year, The Co-operators is among the “50 Best Employers in Canada” according to a list compiled by the international human resources firm Hewitt Associates.The Co-operators, based in Guelph, is 20th on this year’s list, an improvement of five spots from last year’s ranking of 25th. Measured using confidential surveys, the rankings […]
By Canadian Underwriter | January 3, 2007
The “HeartFelt Help Fund” will be hosting a benefit for Sean Corner, Friday, February 2nd, 2007. The fundraiser will be held at Premier Place Banquet Hall, 696 Westburne Drive, Concord, Ontario. Sean, 21, became an underwriting trainee at Economical Insurance (Mississauga branch) after graduating from Mohawk College. While attending Mohawk, Sean also worked part-time for […]
By Canadian Underwriter | January 2, 2007
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