Industry
TORRANCE, Calif. – An explosion and fire tore through part of a Southern California oil refinery, shattering both a four-story structure and the peace of people whose nearby homes shook from the blast. Wednesday’s blast, in Torrance, occurred in a recently installed processing facility (pictured), Fire Department spokesman Steve Deuel said. Four contractors suffered minor […]
By Canadian Underwriter | February 19, 2015
3 min read
Less than a week after a short-lived labour disruption at Canadian Pacific Railway Ltd., workers for Canada’s other major railway will hold strike votes starting next week, Unifor announced Thursday. Unifor (formed through the merger of the Communications Energy and Paperworkers and Canadian Auto Workers unions) announced Thursday it “will be commencing strike votes” at […]
Saskatchewan Government Insurance (SGI) announced Wednesday it is providing nearly $80,000 for a pilot education program, designed for Aboriginal people and intended to help the collision repair industry recruit auto body repair technicians. The new pre-employment auto body repair program, at the Saskatchewan Indian Institute of Technologies (SIIT), will help “address the difficulties SGI and […]
2 min read
Swiss Re reported essentially no change in its combined ratio and a 7.6% increase in property and casualty premiums earned, in 2014 compared to 2013, while Q4 consolidated group net income dropped 79.8% year over year, the company reported Thursday. For the full year, Swiss Re reported net income was $3.56 billion in 2014, up […]
CARSTAR Automotive Canada Inc. announced Tuesday new executive appointments. Michael Macaluso (pictured), previously chief operating officer, is now president while MJ Marshall is chief financial officer. Lisa Mercanti-Ladd – appointed executive vice president in January, 2013 – continues in that role, the company said Tuesday. Mercanti-Ladd (pictured, below right) played a central role in launching CARSTAR […]
By Canadian Underwriter | February 18, 2015
1 min read
More than a third of insurance providers responding to a recent survey reported being subject to a computer security breach, and while all respondents said they use anti-virus software, firewalls and intrusion detection tools, fewer than half said they use biometric tools, the New York State Department of Financial Services said in a recent report. […]
MOUNT CARBON, W.Va. – Oil from North Dakota’s shale fields was still burning in West Virginia a day after a train carrying more than three million gallons of crude derailed in a snowstorm, shooting fireballs into the sky. Hundreds of families were evacuated and nearby water treatment plants were temporarily shut down after 19 tanker […]
5 min read
LOON LAKE, Sask. – The volunteer fire chief in a Saskatchewan village says a neighbouring First Nation that lost two children in a house fire cancelled its firefighting contract with the community. Larry Heon, who is also the mayor of Loon Lake, says he was sleeping when he got a 911 call automatically routed to […]
By The Canadian Press | February 18, 2015
EGI Financial Holdings Inc. has reported net income of $8.4 million and net operating income of $8.5 million for 2014 Q4, pushing year-end results for both to $18.7 million and $16.9 million, respectively. EGI’s net income for 2014 Q4 was up 626% to $8.403 million compared with $1.158 million in 2013 Q4, notes a statement […]
4 min read
An Ontario court recently dismissed a breach-of-contract lawsuit against The Co-operators General Insurance Company, filed by Resq Auto Glass Inc., over repairs to windshields of vehicles insured by The Co-operators. Court records indicate that between February 2012 to July 2014, repairs were done to windshields of 1,844 vehicles and that The Co-operators authorized repairs at […]
By Canadian Underwriter | February 17, 2015
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