Industry
Premium pricing for the commercial property/casualty market in the United States was slightly lower in 2014 Q4, closely mirroring the previous quarter, although wind and hail losses continued to be a problem for some regions, note survey results released Tuesday by the Council of Insurance Agents & Brokers (CIAB). “Changes weren’t particularly dramatic last quarter […]
By Canadian Underwriter | January 28, 2015
3 min read
CRU Group Inc. announced Wednesday it has acquired the shares of Toronto-based insurance claims services firm Maltman Group International. “The partners of Maltmans, Tom Dorey, Craig Walker, Randy Ffrench and John Breese will be integral to the continued success of the business,” stated Markham, Ont.-based CRU Group (whose operations include independent claims adjusting firm Catastrophe […]
1 min read
The Aviva Community Fund, the online community funding competition, announced its grand prize winners Tuesday, with insurer Aviva Canada donating $1 million to organizations promoting positive change in various communities across the country. Of the 40 ideas entering the finals, causes ranged from creating storage space for Vancouver’s homeless population, to enhancing a high school field […]
By Canadian Underwriter | January 27, 2015
2 min read
Axis Capital Holdings Ltd. and PartnerRe Ltd. announced Sunday the boards of directors of both insurance firms unanimously approved a merger agreement, which is subject to shareholder approval. Both Axis and PartnerRe are based in Pembroke, Bermuda. Both insurers operate in Canada from offices in Toronto. The combined company is expected to have “premiums in […]
By Canadian Underwriter | January 26, 2015
MONTREAL – A small Quebec town is wondering why it found itself the target of an Islamic extremist group’s cyberattack after the municipality’s website was compromised for about a dozen hours. The home page for Terrasse-Vaudreuil, a municipality of about 2,000 residents just west of Montreal, was hacked Thursday evening by a group calling itself […]
By Canadian Underwriter | January 23, 2015
Canada’s senior public health officer met Friday with his New Brunswick counterpart to launch a planning exercise intended to test the province’s response in the event of an Ebola case in the province. The federal government said Friday’s exercise was the most recent in a series of meetings and joint exercises, between Canada’s Ebola virus […]
New Brunswick’s Auditor General announced Thursday that a review of a power outage last June found “no evidence of a formal disaster recovery plan” for the province’s information technology systems and that the “current exposure” of those systems to the risk of an outage is “unacceptable.” Auditor General Kim MacPherson released Thursday her report to […]
By Canadian Underwriter | January 22, 2015
Willis Group Holdings plc announced Thursday it has reached an agreement with Miller Insurance Services LLP, in which the companies would combine their wholesale businesses to form a separate broker, offering insurance from the Lloyd’s market, that would be majority-owned by Willis. “Wholesale broking activities encompassing a series of units will transfer from Willis to […]
XL Group plc announced this week it has “simplified the process” for Canadian and American commercial insurance brokers placing excess liability coverage, with a follow form policy that provides up to $50 million in additional limits, for policies from XL and other carriers. The new excess “follow form” insurance policy – which applies to claims […]
Reinsurer Munich Re announced this week the availability of a mobile app for Apple iOS devices designed to give corporate managers information on directors’ and officers’ liability. The app, called Munich Re D&O Scout, lets corporate directors and officers “quickly gain an overview of their personal risk,” Munich Re stated in a press release Monday. […]
By Canadian Underwriter | January 21, 2015
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