Industry
As a result of significantly increased costs for injury claims, ICBC has applied for a 6.5% increase in 2006 basic insurance rates with the BC Utilities Commission.If BCUC approves the request, basic insurance premiums would increase by $38 for the average customer. The filing updates materials provided to the commission in recent months.”Over the past […]
By Canadian Underwriter | January 30, 2006
2 min read
A recent survey by the Tillinghast unit of Towers Perrin revealed that directors at almost half of all public companies polled were inquiring about their directors and officers liability coverage in 2005; scrutiny which incited changes to the coverage at 19% of the corporations in question. Elissa Sirovatka, a principal at Tillinghast, says that D&O […]
By Canadian Underwriter | January 27, 2006
The Co-operators has donated $20,000 over two years to CanDRIVE, a research program dedicated to improving road safety for seniors.CanDRIVE will use the funding to create The Co-operators Aging and Driving Fellowship to support graduate students’ research on older driver assessment tools. “This research will ultimately improve the health, safety and independence of older drivers […]
The Board of Directors of Ontario-based Pethealth Inc. (TSX VENTURE:PTZ) recently declared a dividend of $0.12 per series I 6% convertible preference shares that are payable on Jan. 31, 2006 to the holders of record at the close of business on Jan. 20, 2006.By way of private placement on Jan. 21, 2004, Pethealth issued 5,000,000 […]
By Canadian Underwriter | January 25, 2006
1 min read
EGI Financial Holdings Inc. (TSX:EFH) has completed a plan to restructure its treaty reinsurance coverages for 2006.Enabled by its greater capital resources, EGI Financial did not renew its quota share reinsurance treaty in 2006. In a change from prior years, it withdrew the portfolio of unexpired risks from its 2005 quota share treaty, at no […]
Western Financial Group has announced it is entering into a strategic partnership with the Sawchuk Group in the ownership of Northcountry Insurance Agencies, an insurance agency operation with offices in Smithers, Vanderhoof, Houston, Williams Lake, 100 Mile House, Burns Lake and Fraser Lake, British Columbia.Western Financial Group will own a minority interest in Northcountry, which […]
By Canadian Underwriter | January 23, 2006
David Williams has been appointed vice president, manager of Chubb Specialty Insurance, Canadian zone. Effective immediately, he will oversee policy development, sales and marketing and underwriting activities for all of the Chubb Insurance Company of Canada’s specialty insurance products across Canada.”Chubb prides itself on offering the most comprehensive, uniquely tailored insurance products available, many stemming […]
The Caisse de dpt et placement du Qubec a financial institution that primarily manages funds for public and private pension and insurance plans and AXA, through its subsidiary AXA Private Equity recently increased their joint private equity efforts on the key markets of North America, Europe and Asia.The two groups recently signed the agreement in […]
In lieu of Swiss Re’s deal to acquire the insurance division of US General Electric, the reinsurer plans to reduce its workforce by approximately 1,700 jobs globally.The senior management of the two companies reportedly met to discuss the consolidation of the two workforces and the future plan for leadership.According to the Financial Times, Swiss Re’s […]
By Canadian Underwriter | January 18, 2006
There have been dramatic increases in the severity of U.S. securities class actions over the last five years, panelists have told 18th Annual PLUS International Conference attendees. At the same time, the frequency of class actions remains manageable and is showing signs of decreasing.The Professional Liability Underwriting Society (PLUS) is an international, non-profit association with […]
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