Industry
The Financial Services Commission of Ontario (FSCO) is warning consumers that “Royal Insurance” is not licensed to do insurance business in Ontario. The company is not affiliated or associated with Royal & Sun Alliance Insurance Company of Canada, an insurance company licensed by FSCO. RSA Canada issued a statement saying it was advised the unlicensed […]
By Canadian Underwriter | April 4, 2012
1 min read
Global aviation had one of its safest years ever, with the lowest number of claims, fatalities and incidents recorded since at least 1995, according to a recent report from Aon. Final losses for 2011, excluding minor claims, was $522 million, compared to $1.59 billion in 2010. Although average fleet values grew by 8% and the […]
By Canadian Underwriter | April 3, 2012
Less than a week after the federal government signed into law regulations in Canada’s Bank Act that prohibit banks from selling insurance on their websites, the Canadian Bankers Association (CBA) is asking federal regulators to “hit the pause button” and reflect on whether new regulations are stifling banking innovation. “If not now, then at least […]
2 min read
Frank Cowan Company has launched a new risk management website called the Risk Management Centre of Excellence. The centre is intended to be a resource helping municipalities prevent incidents before they occur. By identifying risks early, municipalities are able to take corrective action, mitigate loss and save money. The centre is available to everyone, although […]
The Economical Insurance Group has teamed up with an identity management firm to help small and medium-sized businesses recover after a privacy breach. With data risk management services provider IDT911, Economical is offering a solution that includes insurance coverage, breach preparation and response services. It also offers 24/7 access to expert guidance on privacy issues, […]
CARSTAR announced on Apr. 3 that it is opening CARSTAR Kitchener Shirley Drive, CARSTAR Woodbridge Highway 7 and CARSTAR Kitchener King Street (Kieswetter) in Ontario. In addition, it is re-opening CARSTAR St. Albert in Alberta. CARSTAR Kitchener Shirley Drive, located at 2300 Shirley Drive, is owned and operated by 17-year CARSTAR franchise partner Tony Koebel, […]
Global reinsurers experienced more positive results in the first quarter of 2012, but they are still committed to rate stability and underwriting discipline in key regions, according to a report from Willis Re. The lower levels of loss activity in international markets this year “have been slightly overshadowed by reinsurers” disappointing 2011 result,” Willis Re […]
By Canadian Underwriter | April 2, 2012
Insurance claims management company Cunningham Lindsey is up for sale at an estimated price tag of about $1 billion, according to reports from various media sources. Both Thomson Reuters business news agency and digital news service Post Online.co.uk cited sources saying that Stone Point Capital LLC, a buyout firm with a majority stake in Cunningham […]
SGI Canada unveiled its new eQuote tool on Apr. 2, intended to offer consumers a fast, easy and convenient way to research, obtain a quote and purchase extension auto insurance online. Basic insurance is included with customers’ licence plate registration through the Saskatchewan Auto Fund. But package policy insurance through SGI Canada can be purchased […]
ACE Canada has launched two new combined products for pollution and casualty insurance. The Canadian-based operating division of the ACE Group announced the launch of ACE PaC and ACE ECO PaC on Apr. 2. The ACE PaC product combines general liability and pollution liability into a single policy form. It can be offered with primary […]
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