Industry
While the insurance industry in the United States is well-capitalized and market sentiment is mostly positive, there is still evidence of economic and market-based headwinds that will challenge profitable growth, a new report from Guy Carpenter has suggested. In the 2017 edition of its annual report, Plotting a Path in a Changing Market, the global […]
By Canadian Underwriter | October 18, 2017
2 min read
David Johnston, until recently Governor General of Canada, has been hired by Fairfax Financial Holdings Ltd., the Toronto-based corporate parent of several property and casualty insurers, as a global advisor, Fairfax said Tuesday. Johnston was replaced Oct. 2 as Governor General by Julie Payette. Also on Tuesday, Deloitte Canada announced separately that Johnston has joined […]
By Canadian Underwriter | October 17, 2017
3 min read
Canadian co-operatives and mutuals have committed $25 million to establish the Canadian Co-operative Investment Fund (CCIF), which will provide financing for new and expanding Canadian co-operatives in Canada. The $25 million in committed investment to date is the threshold agreed by partners as the start-up capital required for a self-sustaining fund, noted a press release […]
By Canadian Underwriter | October 16, 2017
The family of a Montreal woman murdered in 2010 is not barred, by the six-month prescriptive period in Quebec’s Cities and Towns Act, from suing the city, the Supreme Court of Canada suggested in a ruling released Friday. In the weeks before she was killed seven years ago, Maria Altagracia Dorval “had complained in vain” […]
By Canadian Underwriter | October 13, 2017
4 min read
Product development and innovation around data and data analytics has expanded the scope of insurance solutions to a wider range of threats and perils, and made risk transfer more efficient, Swiss Re said in its latest sigma study. Released on Wednesday, the Commercial insurance: innovation to expand the scope of insurability study noted that technological, […]
By Canadian Underwriter | October 11, 2017
U.S.-based Starr Companies is looking to further support its primary general liability accounts with the announcement that it has introduced commercial primary auto coverage in all provinces and territories across Canada. Beyond better supporting its primary general liability accounts, “this also solidifies our position as a market of choice for Canadian businesses with U.S. cross-border […]
1 min read
Alberta has become the latest province to draft framework to manage cannabis legalization ahead of the federal government’s plans in July of 2018. Albertans are invited to provide feedback on the draft framework by midnight MT on Oct. 27. A final version of the framework and legislation is expected to be introduced later this winter, […]
By Canadian Underwriter | October 6, 2017
Four months after it announced the sale of about an eighth of a Mumbai-based general insurer, Toronto’s Fairfax Financial Holdings Ltd. said it has raised gross proceeds of US$548 million by selling another 12% of ICICI Lombard General Insurance Company Limited. Fairfax is the parent company of Toronto-based Northbridge Insurance as well as Stamford, Conn.-based […]
By Canadian Underwriter | October 4, 2017
Scott Treasure, incoming president of the Insurance Brokers Association of Canada, understands that staying committed to core principles offers a strong foundation for moving forward.
By Angela Stelmakowich, Editor | October 2, 2017
5 min read
Making surety bonds mandatory on public sector construction projects in Ontario would help protect subcontractors and suppliers, a Liberal MPP suggested last week in the legislature. Bill 142, if passed into law, would make it mandatory for a contractor who enters into a contract with a public sector owner, to provide the owner with a […]
By Canadian Underwriter | October 2, 2017
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