Industry
The Aviva Community Fund has announced the semi-finalists for its competition, which offers $1 million in donations for community initiatives across the country. Canadians submitted around 1,100 ideas and cast nearly 2 million votes for projects that will improve communities across the country. The semi-finalists will now attempt to gain votes again, with the top 30 […]
By Canadian Underwriter | November 28, 2013
4 min read
The momentum in global economic growth achieved this year will continue into 2014, with emerging markets expected to drive premium growth and alternative capital remaining focused on transparent, well-modelled natural catastrophe business, notes Swiss Re’s Global insurance review 2013 and outlook 2014/15. “This will support ongoing premium growth in the non-life primary market, particularly in […]
3 min read
TORONTO – Ontario has passed legislation that will pave the way for carbon monoxide detectors to be mandatory in all homes in the province. All three parties supported a private member’s bill introduced by Progressive Conservative Ernie Hardeman. The Hawkins Gignac Act is named after members of a Woodstock family who died from carbon monoxide […]
By Canadian Underwriter | November 27, 2013
Alberta has posted the highest frequency of collisions of the four provinces considered in Allstate Canada’s recent analysis of its customer claims data. Allstate Canada’s fifth annual Safe Driving Study, released Wednesday, ranks 50 Canadian communities by the frequency of collisions per 100 cars insured by the company. It considers customer claims data in Ontario, […]
2 min read
Towers Watson suggests it will become increasingly important to have leaders and partners tuned into the nuances of working in Africa, including those related to risk and financial management, as multinational businesses continue to seek growth opportunities on the continent. Multinational businesses view Africa as one of the last frontiers of growth, notes a statement […]
TD Insurance is planning to expand its operations in Saint John, N.B. over the next three years, adding about 275 jobs over that time. The move it part of a partnership with Invest NB, a Crown corporation designed to attract business opportunities to the province. TD Insurance has so far posted 121 new positions to […]
By Canadian Underwriter | November 26, 2013
1 min read
Applied Systems, Inc. announced Tuesday that it has signed a definitive agreement to be acquired for about $1.8 billion by investment funds advised by Hellman & Friedman LLC (H&F). The company is being acquired from the global private investment firm Bain Capital in a transaction valued at approximately $1.8 billion, notes a statement from Applied […]
Ironshore Canada’s professional and management liability unit, IronPro, has introduced a new policy for Canadian-based private equity and venture capital firms, protecting against portfolio investment risk exposures worldwide. The Private Equity Liability Insurance Policy provides comprehensive coverage for risks arising from funds’ indemnity obligations, Ironshore says. The policy provides coverage for directors and officers, errors […]
By Canadian Underwriter | November 25, 2013
A federal omnibus bill that would let the government indemnify aviation industry participants for losses, damage or liability due to armed conflict or unlawful interference with an aircraft, and which would impose strict liability on ship owners for damage from hazardous and noxious substances, was the subject of discussion in the House of Commons this […]
By Canadian Underwriter | November 21, 2013
The Office of the Superintendent of Financial Institutions will be launching a new website next Monday, as part of the federal government’s overall approach to revamping online services. A preview of the new website is available on the current OSFI site, which also includes information about bookmarks and where to find important information According to […]
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