Industry
Echelon General Insurance Company, a wholly-owned subsidiary of EGI Financial Holdings Inc. (TSX: EFH), has entered the Ontario motorcycle insurance market with a $5 million brokerage agreement with Riders Plus Insurance.Riders Plus, the Ontario-based motorcycle insurance brokerage, will place $5 million of motorcycle insurance premiums with Echelon in the first 12 months following the scheduled […]
By Canadian Underwriter | January 9, 2006
1 min read
The majority of sports utility vehicles and pickup trucks do not provide adequate protection for passengers in the instance of rear-end collisions, according to a crash test conducted by the Insurance Institute for Highway Safety.The new crash test results, which put seats and head restrains in SUV and pickup truck models through a simulated rear-end […]
2 min read
Anthony Clark International Insurance Brokers Ltd. (TSE: ACL) recently negotiated a settlement to all of the outstanding legal actions with DKWS Enterprises Inc., John Kabaker and the Kabaker Family Trust of July 2, 1998.The negotiated settlement includes a dismissal of all pending legal actions and a substantial discount to the purchase price in connection with […]
By Canadian Underwriter | January 6, 2006
Hub International Limited (NYSE/TSE: HBG) recently sold its Talbot Financial hub in an undisclosed transaction to a buyout group, which includes four members of management. San Francisco-based Talbot Financial, one of four hubs created after the acquisition of Talbot from Safeco in 2004, had been classified as a discontinued operation during the third quarter of […]
By Canadian Underwriter | January 4, 2006
U.S. and Canadian insurance companies that use one of the so-called ‘Big 4’ auditing firms PricewaterhouseCoopers, Ernst & Young, Deloitte, and KPMG for auditing and actuarial services are more likely to receive a slightly higher financial strength rating than those that don’t, according to a special report by ratings agency A.M. Best. “By Best’s Financial […]
Montpelier Re Holdings Ltd. (NYSE: MRH) has committed a $133 million investment into the capitalization of Blue Ocean Reinsurance Ltd., a new Bermuda reinsurer.Blue Ocean, which has been capitalized with commitments totaling $300 million of common and preferred equity from Montpelier and other investors, will offer retrocessional protection in the property catastrophe market. Blue Ocean […]
By Canadian Underwriter | January 3, 2006
Symbility Solutions, a Canadian company that has developed a mobile claims system focusing principally on residential and commercial property claims estimation, has joined the Microsoft Insurance Value Chain (IVC) partner program. By joining the Microsoft IVC, Symbility will enhance the marketing of its Mobile Claims solution with assistance from Microsoft account executives. As with other […]
Moody’s Investors Service has upgraded the insurance financial strength rating of Zurich Insurance Company (ZIC) to A1, its senior debt rating to A3, and its subordinated debt rating to Baa1. The outlook on all ratings is stable.Commenting on its decision, Moody’s said the upgrade reflected the strong profitability of Zurich Financial Services (ZFS) in 2004 […]
The Centre for the Study of Insurance Operations (CSIO) recently reported that the CSIO Portal Project – a technology project conceived six years ago to improve the efficiency of workflow between independent brokers and insurers – will be “winding down” immediately. “The CSIO wishes to thank the brokers from across Canada and the insurance companies […]
December 31, 2005
3 min read
Alberta insurers do not have to release records if they fall under the realm of “insurer information” as defined by the Insurance Act, according to a recent ruling by Alberta Information and Privacy Commission adjudicator Dave Bell. The Alberta adjudicator decided the ‘Freedom of Information and Protection of Privacy Act’ (the “FOIP Act”) does not […]
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