Industry
New rules proposed in May would replace Manitoba’s almost 50-year-old groundwater regulations as part of the provincial strategy to better protect the 25% of Manitobans who rely on well water, conservation and water stewardship minister Gord Mackintosh has announced. The proposed changes would include new driller responsibilities and liability insurance requirements to protect landowners, including […]
By Canadian Underwriter | May 22, 2012
1 min read
Western Financial Group has completed its first acquisition in British Columbia’s capital with the purchase of Hodges & Company Insurance Services Ltd. “After establishing Western in other parts of the province, it is truly exciting to see our name in the capital,” Scott Tannas, president and CEO of Western Financial Group, a subsidiary of Desjardins […]
By Canadian Underwriter | May 18, 2012
Captives would be wise to plan for ‘black swan’ events, William Montanez, director of risk management for Ace Hardware Corporation, said during his presentation at the Captives & Corporate Insurance Strategies Summit in Toronto on May 16. These worst-case scenarios are characterized as high-impact, rare and unpredictable events. To ensure viable and sustainable captive growth, […]
By Canadian Underwriter | May 17, 2012
It seems a safe bet there will be captive growth in the future, with select sectors contributing much of the related activity over the coming year. “The reality is that for the vast majority of Canadian companies, their captives are well-capitalized,” Trevor Mapplebeck, managing director of alternative risk solutions for Marsh Canada, said in his […]
2 min read
Captives can be employed as a reinvestment vehicle and risk management promoter for universities, institutions that need specialized coverages the commercial market may not be able to provide. Universities’ risk exposures are wide ranging, including aging infrastructure, complex lab spaces, use of sports facilities and even Frosh Week, Steve Pottle, director of risk management services […]
The level of information technology investments by property and casualty insurers in North America slowed last year, with many companies sticking to the same vendors in a period of economic turbulence, research firm Celent noted in a recent report. It reported a decrease in the volume of software purchases by 8.6% in 2011 compared to […]
By Canadian Underwriter | May 16, 2012
Canada’s insurance community raised $245,000 for Starlight Children’s Foundation Canada at the 18th Annual Starlight Insurance Gala held in Toronto on May 12. Starlight Children’s Foundation Canada is dedicated to helping seriously ill children and their families cope with their pain, fear and isolation through entertainment, education and family activities. Starlight’s programs are designed to […]
Aviva Canada is introducing Compu-Quote’s “Pre-fill” solution to brokers in Ontario, Alberta and Atlantic Canada that use their comparative rating solution. The application is designed to increase the speed of data entry in the quoting process for more than 600 brokerages across the three provinces. “The solution automatically populates consumer information at quote time such […]
British Columbia’s public auto insurer will be holding open house sessions on how its premiums should be determined and whether higher-risk drivers should be penalized with higher rates. The public sessions, running across the province from May 22 to June 19, will gather feedback from customers and other interested parties on a pricing system that […]
By Canadian Underwriter | May 15, 2012
Zurich Insurance Group’s general insurance segment reported a $576-million increase in its business operating profit in 2012 Q1, reflecting a lower number of catastrophe events compared to the same period last year. The general insurance segment’s quarterly profit rose from $280 million to $856 million, while written premiums and policy fees increased by $370 million […]
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