Industry
St. Paul Travelers (NYSE:STA) is offering a new policy designed to give directors and officers of Canadian companies broader protection for claims made against their personal assets.St. Paul’s new Executive Choice Plus package provides coverage for “Side A” non-indemnifiable claims or claims that can’t be reimbursed by a company, such as derivative lawsuits or those […]
By Canadian Underwriter | April 20, 2006
2 min read
Canada’s largest banks have asked the Supreme Court of Canada to rule the Alberta Insurance Act be ruled “constitutionally inoperable or inapplicable to federally-regulated banks that promote the sale of insurance to their customers,” A.M. BestWire reports.At the Alberta Court of Appeal, the court has recently ruled in favour of the Alberta Insurance Council, which […]
By Canadian Underwriter | April 18, 2006
Martin Ouellet has been named regional sales manager for Canada at Applied Systems, Inc. Most recently, Ouellet was a senior sales consultant for Applied Systems Canada, devoting eight of his 12 years in technology sales and sales management to growing the company’s client base in a number of provinces.He holds a bachelor’s degree in business […]
3 min read
Former president and CEO of the Insurance Corporation of British Columbia (ICBC) Nick Geer has been appointed to the position of chairman of the board for NAV Canada.Geer replaces R. A. (Sandy) Morrison, who is retiring after more than a decade on the NAV CANADA Board and after two years as chairman of the board.Geer […]
By Canadian Underwriter | April 13, 2006
1 min read
Michael Butler, national insurance and services manager for PPG Refinish Canada, has been appointed to the position of Chair of the Chapter & Industry Relations Committee of the Women in Insurance Cancer Crusade (WICC). WICC is dedicated to raising money to support cancer research and education and to support colleagues and their families in the […]
Fairfax Financial Holdings Limited (TSX:FFH.SV) (NYSE:FFH) has become aware of a class action lawsuit filed against it and certain of its officers and directors in the U.S. District Court for the Southern District of New York.The lawsuit was filed “on behalf of a putative class consisting of investors who purchased the public debt securities of […]
By Canadian Underwriter | April 12, 2006
Condominium owners can find protection against gaps in typical condo coverage with Chubb Insurance Company of Canada’s new insurance policy. Most condo owners are unaware of expenses they are accountable for as a result of limitations in their building corporation’s master insurance policy. Chubb’s ‘Masterpiece Condominium’ policy addresses these limitations by offering protection in a […]
By Canadian Underwriter | April 10, 2006
The national organization of Canada’s actuarial profession says the Socit de l’assurance automobile du Qubec (SAAQ) has no choice but to raise Qubec motorists’ premiums because of the SAAQ’s “very large funding deficits.””The Government of Qubec is correct in stating that the SAAQ posted a surplus last year,” the Canadian Institute of Actuaries (CIA) says […]
Insurance Bureau of Canada data shows a decline in homeowner’s premiums in New Brunswick between 2004 and 2005.In 2005, the average premium was $340, whereas in 2004 it was $358. Homeowner’s pricing is looked at in terms of premium per $1,000 of coverage, the IBC noted in a recent press release, issued in response to […]
By Canadian Underwriter | April 6, 2006
Canadian Direct Insurance, a company in B.C. and Alberta that sells insurance by telephone, says it has conducted a market survey that suggests Alberta drivers could reduce their auto insurance premiums by up to 40% a year by buying over the Internet.Canadian Direct Insurance conducted a study in March. It found that, for a range […]
By Canadian Underwriter | April 5, 2006
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