Industry
Co-operators General Insurance Company’s financial results for the second quarter represent a consolidated after-tax net income of $32.4 million, compared to $38.0 million income for the same period in 2004.Gross written premium in the second quarter increased 0.9% to $578 million, compared to $573 million in the second quarter of 2004. The claims ratio for […]
By Canadian Underwriter | July 29, 2005
1 min read
Willis Group Holdings Limited (NYSE: WSH), net income for the quarter ended June 30, 2005 was $119 million, or $0.72 per diluted share, compared with $96 million, or $0.57 per diluted share, a year ago. Results for the second quarter showed a net gain on disposal of operations of $78 million ($41 million or $0.25 […]
By Canadian Underwriter | July 28, 2005
2 min read
Industrial-Alliance Insurance and Financial Services Inc. today reported its second-quarter profit rose 10%.Industrial Alliance Insurance and Financial Services, based in Quebec, has boosted profits by 10% as it experienced Q2 higher premium incomes. Net income was $44.5 million or $0.56 per share, diluted, compared with $40.4 million or $0.51 per share a year ago. Increased […]
By Canadian Underwriter | July 27, 2005
CARSTAR Automotive Canada recently sponsored the solar-powered car dubbed Soleon engineered by students at the University of Calgary which will competed in the North American Solar Challenge race starting in Austin, Texas on July 17 and ending in Calgary on July 27. The Soleon is powered by 570 solar cells, has a five-horsepower motor and […]
A recent online survey of 1,000 drivers finds the majority of drivers believe common car insurance myths to be true, according to U.S.-based insurer Drive Insurance from Progressive. The survey found myths drivers believe include: * 25% drivers believe insurers consider vehicle color when determining auto insurance rate but in fact auto insurance rates are […]
By Canadian Underwriter | July 26, 2005
Investigators from Alberta are probing allegations that a Whitehorse insurance broker stole clients’ money, leaving approximately 30 Yukon Territories Insurance Solutions policyholders dealing without the insurance coverage they paid for, according to Yukon government officials.The Yukon government’s supervisor of insurance has also suspended the broker’s license. Recently, after receiving complaints about the brokerage, the territory […]
By Canadian Underwriter | July 25, 2005
Manitoba Public Insurance recently initiated an incentive program, promoting the Immobilizer a small computer connecting a car’s ignition system and acting as a safeguard against theft by preventing the engine from starting unless a code or key is used. The incentive program in which, Manitoba Public Insurance (MPI) has guaranteed the price of $280 for […]
The second quarter of 2005 continues to see a softening of the commercial p&c industry, according to the Commercial Property/Casualty Market Index sponsored by the Council of Insurance Agents and Brokers this is evidenced by an increase in competition for renewals among commercial insurance brokers.The survey reports that small, medium and large accounts are seeing […]
By Canadian Underwriter | July 21, 2005
A recent court ruling by the California Supreme Court indicates that a supervisor can be sued for sexual harassment if they show favoritism toward employees whom they have a sexual relationship with. In Edna Miller vs. Department of Corrections, the ruling based on a issue where a prison warden was accused of having sexual relationships […]
By Canadian Underwriter | July 20, 2005
In lieu of its recent push to convince the federal government to pass a reform allowing banks increased rights to sell insurance directly through branches, the Royal Bank of Canada recently used its 11-page submission to reiterate what it sees as a need for reform resulting from consumer need and convenience. In the submission, released […]
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