Industry
Archway Insurance, one of Atlantic Canada’s largest independently-owned insurance brokerages, announced Wednesday it has acquired Halifax’s Basin Insurance, effective Jan. 1, 2014. “Basin is a great addition to Archway Insurance,” Archway vice president Michael Stack commented in the announcement. “The management and employees have done a wonderful job of caring for clients and growing this […]
By Canadian Underwriter | December 11, 2013
2 min read
Several Canadian insurers have joined a group of stakeholders pushing for the Ontario government to introduce mandatory entry level training for commercial truck drivers. Northbridge Insurance, The Guarantee Company of North America, Old Republic Insurance of Canada, Zurich Canada and the Truck Training Schools Association of Ontario (TTSAO) recently joined the call for training by […]
By Canadian Underwriter | December 10, 2013
Guy Carpenter and Co. has released the latest version of its reserve risk modeling tool MetaRisk Reserve 3.0. The updated tool includes “improved Solvency II reporting,” according to Guy Carpenter, a member of the Marsh & McLennan Companies. MetaRisk Reserve has also now been integrated with MetaRisk 7.2, the firm’s risk and capital management decision-making […]
1 min read
Nearly one in five firms surveyed reported they experienced a theft of mobile devices, such as cellphones and tablet computers, while 5% reported a loss of sensitive data due to theft of mobile devices. Moscow-based computer security vendor Kaspersky Lab recently announced the results of its global corporate IT security risks survey for 2013. “Personal […]
Commercial insurance prices in the United States saw a 5% in aggregate increase during 2013 Q3 compared to the same quarter in 2012, notes Towers Watson’s latest Commercial Lines Insurance Pricing Survey (CLIPS). Although the increase marked the “11th consecutive quarter of price increases, the gains appear to be tapering off, having dropped a point […]
Many executives at Canadian for-profit private companies interviewed as part of the 2013 Chubb Private Company Risk Survey fail to buy tailored insurance solutions, thereby foregoing the opportunity to transfer risk. The survey – conducted in February 2013 by Pollara and released Monday – canvassed 302 companies, almost two-thirds of which have fewer than 100 […]
By Canadian Underwriter | December 9, 2013
3 min read
Marsh Inc. announced Monday it has appointed Robert Bentley as president of its United States and Canada Division. The New York City-based brokerage and risk management firm said Bentley will be “responsible for the oversight” of Marsh’s U.S. core brokerage, Canada, and insurance services businesses. Before assuming his current position, Bentley had been president and […]
Many large corporations – especially in oil and gas – do not fully report on the social and environmental impacts of their own supply chains, according to a recent KPMG report. KPMG announced Monday the release of its annual survey of corporate responsibility reporting. The survey “is based on a detailed study of company reporting […]
There is a direct correlation between more mature risk management practices and stronger financial results and organizational resiliency, suggests the Aon Risk Maturity Index Insight Report, released late last week. Penned by Aon Global Risk Consulting in collaboration with the Wharton School at the University of Pennsylvania, the report identified a relationship between risk maturity […]
TORONTO – It’s the time of year when students return home from school to celebrate the holidays with their families and start the negotiations to borrow their parents’ car. But insurance companies say both parents and young adults should consider several factors about auto coverage before the keys are handed over. Everything from safety habits […]
By Canadian Underwriter | December 6, 2013
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