Industry
Aon plc announced this week it is providing trip cancellation insurance for space tourists intending to travel on Lynx suborbital spaceplanes operated by Amsterdam-based Space Expedition Corp. (SXC). “This insurance policy provides coverage for losses related to flight cancellation, postponement or temporary interruption,” SXC and Aon stated in a joint press release Tuesday. “It is […]
By Canadian Underwriter | December 13, 2012
1 min read
Insurance Bureau of Canada (IBC) has released its annual list of the top 10 most frequently stolen vehicles in Canada, with the 2000 Honda Civic topping the list. Civics actually take up the top two places in this year’s list, perhaps unsurprisingly, as the model often makes the list. It’s a popular vehicle for young people and many […]
3 min read
The New Brunswick government announced Wednesday its intention to spend $279.6 million on buildings, bridges, highways, rural roads and equipment in fiscal year 2013-14. “Our government is investing in strategic infrastructure which will help to build a stronger province and enhance our quality of life,” the province’s Transportation and Infrastructure Minister Claude Williams said while […]
By Canadian Underwriter | December 12, 2012
2 min read
FirstOnSite Restoration announced Wednesday it has developed its own software designed to let project managers compile site reports of damaged properties and generate electronic records for claims adjusters, plus work orders for construction and repair crews. The Mississauga, Ont.-based firm wrote its own program, which it calls mobileCT, using developer tools from Microsoft Corp., including […]
The Insurance Brokers Association of Ontario (IBAO) has announced that Debbie Thompson has been elected as the association’s 70th president. Thompson was officially inducted at the recent IBAO Convention held in Toronto, and will formally assume her role as president on Jan. 1, 2013. Thompson began her insurance career at the Citadel Assurance, and received […]
Automaker Honda has issued a recall for more than 52,000 minivans and SUVs in Canada and hundreds of thousands more worldwide for a roll-away risk. The company has issued the recall for its 2003-04 Odyssey and Pilot models. The recall also affects the 2003 to 2006 Acura MDX model years. The problem relates to […]
Munich Re announced Wednesday it is providing reinsurance for some product warranties of Chinese solar module manufacturer Yingli Green Energy Holding Company Ltd. “In the event of an unexpectedly large performance loss below guaranteed performance specification, Munich Re indemnifies Yingli Green Energy for its performance warranty obligations,” the firms stated in a press release. Baoding, […]
By Canadian Underwriter | December 11, 2012
Swiss Re released Wednesday a report that predicts higher growth in Canada in direct premiums written in the non-life insurance market. The report, dubbed Global insurance review 2012 and outlook 2013/14, includes a table depicting real growth of direct premiums written in non-life markets in 10 western countries, plus the growth in both advanced and […]
Claims adjusting and management firm Cunningham Lindsey Group has announced the closing of its previously announced recapitalization by investor group CVC Capital Partners. Terms of the transaction, which was previously announced on Oct.1, 2012, were not disclosed. Read more: Investor group to buy Cunningham Lindsey Funds affiliated with CVC, an investor group that includes Allied World […]
The Co-operators Group Ltd. of Guelph, Ont. is stepping up its efforts to encourage the installation of sprinklers in private homes, with a discount program offering up to 30% savings on premiums, a research project with a major Toronto hospital and a lobbying effort to mandate sprinklers in new homes with fewer than four storeys. […]
By Canadian Underwriter | December 10, 2012
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