Industry
Canada’s Superintendent of Financial Institutions, Julie Dickson, will be replaced June 29 by Jeremy Rudin, assistant deputy minister of the financial sector policy branch of the federal finance department, the federal government announced Friday. Dickson has led the Office of the Superintendent of Financial Institutions (OSFI) since June 2007, when she was appointed for a […]
By Canadian Underwriter | June 16, 2014
2 min read
Wawanesa Mutual Insurance Company recently announced that Jeff Goy has been appointed president and chief executive officer, replacing Ken McCrea. Goy joined Winnipeg-based Wawanesa in 1990. He has been vice president of automobile underwriting, vice president of insurance product and was appointed vice president of corporate development in 2013. McCrea will remain on Wawanesa’s board […]
1 min read
ATLANTA – The explosions that damaged a crippled Japanese nuclear plant during a disaster that forced mass evacuations in 2011 show what can happen when nuclear fuel overheats. In response to the Fukushima Dai-ichi accident, the U.S. government dramatically increased funding to develop tougher protective skins for nuclear fuel, hoping to spur innovation in designs […]
3 min read
DETROIT – General Motors is recalling more cars for problems with ignition switches. GM is recalling nearly 512,000 Chevrolet Camaro muscle cars from the 2010 to 2014 model years, built in Canada at a GM assembly plant in Oshawa, Ont. The automaker says 17,736 of the Camaros are in Canada. A driver’s knee can bump […]
By Canadian Underwriter | June 13, 2014
The Saskatchewan Rate Review Panel (SRRP) is recommending a 4.4% overall average increase to Saskatchewan Auto Fund vehicle insurance rates, less than the 5.2% hike proposed in the application from Saskatchewan Government Insurance (SGI). “The panel’s recommendations are based on fairness and rate stability for all the Auto Fund’s customers,” panel chair Kathy Weber said […]
By Canadian Underwriter | June 12, 2014
The United Kingdom’s motor insurance industry achieved a profit in 2013 – the first in two decades – expected to post a net combined ratio (NCR) of 98.5%, Ernst & Young noted in an update Tuesday. Analysis of the year-end results of the majority of listed insurers indicates the NCR is going to be 98.5%, […]
By Canadian Underwriter | June 11, 2014
WEST RIVER STATION, N.S. – The company that owns a train that derailed in Nova Scotia’s Pictou County says work has begun to transfer propane from seven tanker cars. Denis Boucher, a spokesman for the owners of the Cape Breton and Central Nova Scotia Railway, says if the work proceeds as planned the section of […]
By The Canadian Press | June 11, 2014
American International Group Inc. announced Tuesday that its executive vice president, Peter Hancock, will replace Robert Benmosche as president and chief executive officer, effective Sept. 1. On Sept. 1, Benmosche “is expected to resign from the AIG Board of Directors and will assume an advisory role at AIG,” the New York City-based insurance carrier and […]
ACE’s Construction Industry Practice has issued a white paper to help construction contractors build a better multinational insurance program and mitigate potential exposures, emphasizing the need to ensure continuity of insurance coverage across borders before expanding their global reach. “Securing the right insurance coverage across multiple borders can play a crucial role in the overall […]
Stopping cyber crime – the cost of which is being estimated at US$445 billion – can positively impact world economies, argues a new report from the Center for Strategic and International Studies (CSIS) and sponsored by McAfee Inc. Released Monday, Net Losses – Estimating the Global Cost of Cybercrime concludes that cyber crime costs businesses […]
By Canadian Underwriter | June 10, 2014
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