Industry
Fires have gutted three churches in Canada within the past two months, each of the fires the result of electrical issues, Ecclesiastical Insurance has reported.The churches were located in Port Alberni, British Columbia, Stoney Creek, Ontario and on Newfoundland’s Avalon Peninsula. Electrical issues are among the leading causes of fire in North America. Older churches, […]
By Canadian Underwriter | January 27, 2012
1 min read
The H.W. Kaufman Financial Group, parent company of wholesale broker and underwriting manager Burns & Wilcox, has acquired Chesterfield Canada Inc. as part of a broader deal announced on Jan. 27. The larger transaction involves Kaufman Financial Group purchasing Chesterfield Group Ltd., a London-based insurance broker and underwriting organization with companies in the United Kingdom, […]
2 min read
An overwhelming 96% of brokerages surveyed believe their insurance buyer clients are most concerned about availability and cost of coverage, according to The Independent, a global coalition of privately owned insurance brokerages and risk management service firms.The Independents surveyed its member firms and also found that nearly half of respondents (48%) also indicated their clients […]
By Canadian Underwriter | January 26, 2012
XL Group plc launched a new multi-channel customer portal, created with the help of Accenture, that provides customers with access to claims information via XL’s website and through mobile devices. The XL GlobalClaim Customer Portal offers real-time access to claims-related information, such as the contact details and locations of participating XL claims handlers, date of […]
Symbility Solutions is acquiring Marshall & Swift/Boeckh (MSB)’s claims divisions, including contracts, claims employees, software and analytics assets. In consideration for these assets and a cash investment, MSB’s parent company, Decision Insight Information Group, will become the largest shareholder with a one-third equity stake in Symbility’s parent company, Automated Benefits Corp. “Bringing together Symbility’s leadership […]
Canadian commercial insurance rates are expected to remain stable across most lines of business in 2012, continuing a trend that began in the second half of 2011, according to a report by Marsh. In its report Navigating the Risk and Insurance Landscape: Canada Insurance Market Report 2012, Marsh noted that substantial catastrophe losses and reduced […]
By Canadian Underwriter | January 25, 2012
Lloyd’s syndicate Navigators has launched the “first ever” directors and officers’ product to protect corporate directors specifically for defence costs, Lloyd’s reported. A recent judgement in Australia’s High Court against directors of Bridgecorp, a company that went bankrupt in 2007, sparked the idea for the coverage.The company owed $500 million to creditors. It successfully argued […]
Aviva Canada Inc. has announced 12 winners of the third Aviva Community Fund, which awards a total of $1 million to community-based initiatives across the country.This year’s winners include schoolyard projects in Ontario and Alberta, an animal rescue facility in British Columbia and a youth camp in Quebec, among others. The 12 projects receiving funding […]
Faulty extension cord or corroded block heater plugs are the culprit for several dozen vehicle fires each winter in Manitoba, according to Manitoba Public Insurance (MPI) fire experts. A cracked extension cord or a block heater with a corroded plug can result in “electrical arching,” which can quickly spark a fire. About 1,000 vehicles are […]
The Insurance Bureau of Canada (IBC) met with city staff and an Ottawa councilor to discuss the potential impact of the City of Ottawa’s efforts to reduce the risk of flooding in its west end of Kanata, yourottawaregion.com reports.Ottawa dedicated $32 million in water and sewer infrastructure upgrades, including the replacement of manhole covers, upgrades […]
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