Industry
ACE Canada, the Canadian-based operating division of the ACE Group, has launched ACE Advantage Architects and Engineers professional liability insurance. The new product provides domestic and international coverage against perils faced by design professionals, including professional negligence, pollution incidents and personal injury. “Canadian design professionals are increasingly called to conduct business in emerging economies,” said […]
By Canadian Underwriter | June 21, 2012
1 min read
The growth of unstructured, disparate information will create problems for insurance companies that don’t have the technology infrastructure or tools to handle it, according to a recent report from consulting firm Novarica. ‘Big Data,’ defined as data sets that are too large or complex to work with using traditional database systems, could create a broad […]
2 min read
Approved Surety Co., a surety wholesaler and managing general agency (MGA) to Canadian and U.S. insurance brokerages and agencies, has been appointed MGA for Fenchurch General Insurance Company’s surety division. Approved Surety – which assists with securing surety facilities for small and emerging contractors, and services industries outside the traditional surety box – has partnered […]
By Canadian Underwriter | June 20, 2012
CORRECTION: The June 20 online edition of Canadian Underwriter incorrectly stated that CAFII supports “the idea that consumers should be able to access insurance intermediaries at all times during the online purchase process.” In fact, CAFII proposed the position to the CCIR that they not make it mandatory for insurers to provide access to insurance agents […]
3 min read
Aviva Canada is reintroducing its Aviva Community Fund competition in the fall of 2012. The program, which offers $1 million to encourage Canadians to lead, empower and support community initiatives across the country, is Aviva’s flagship charitable donation project. Launched in the fall of 2009, the Aviva Community Fund competition has provided more than $2.5 […]
Property and casualty insurance companies must address a range of “disruptive” technologies to succeed in a changing competitive marketplace, according to a recent report from Deloitte Consulting L.L.P. The notion of “maintaining a high level of operational efficiency (is) merely table stakes,” the consulting firm noted in its report, Insurance Tech Trends 2012: Elevate IT […]
By Canadian Underwriter | June 19, 2012
ACE Canada, the Canadian-based operating division of ACE Group, has introduced an easy-to-use option for Canadian brokers to coordinate placement of local-admitted insurance policies. “This efficient and seamless application benefits ACE’s brokers and clients by reducing the operational hurdles often encountered when securing a local broker by leveraging the ACE Global Network,” ACE Canada notes […]
CARSTAR Collision & Glass Centres across North America raised $101,340.01 for Cystic Fibrosis Canada and local fundraising groups in the ninth annual Soaps It Up National Car Wash Fundraiser on June 9. CARSTAR thus reached its $2-million milestone in funds raised for Cystic Fibrosis Canada. There were more than 70 events throughout Canada and more […]
Insurance Brokers Association of Canada (IBAC) and its member associations have announced that the Elite Force-Best Practices Producer Academy will be offered in Toronto starting this September. Now in its fourth year, the sales training program for producers is an intensive, 12-day program held three days per quarter, notes an IBAC statement. Available in English, […]
By Canadian Underwriter | June 18, 2012
RiverStone, a runoff subsidiary of Fairfax Financial Holdings Limited, has reached an agreement with Brit Group to purchase all outstanding shares of Brit Insurance Limited (BIL). RiverStone will purchase BIL at a discount to its book value — which was approximately $530 million at March 31, 2012 — adjusted for certain pre-closing dividends. The purchase […]
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