Industry
The Canadian Council of Insurance Regulators (CCIR) is working towards making two issues papers available in 2012.Currently, the CCIR is working on finalizing recommendations from industry consultation related to the managing general agents distribution model in the life insurance industry. Once that is complete, a CCIR committee will start to work on the role and […]
By Canadian Underwriter | January 9, 2012
1 min read
TSN has announced a new multi-year curling partnership with The Dominion that will see the insurance company become the title sponsor of TSN’s annual curling skins event. Beginning January 2013, The Dominion All-Star Curling Skins Game features the top men’s curlers in Canada as voted by the fans and competing for $100,000 in prize money […]
A.M. Best is maintaining stable outlooks for both the U.S. personal lines and reinsurance markets, but the outlook for the commercial market is negative amid catastrophes and competition. U.S. personal lines continue to benefit from solid performance in auto insurance, reported A.M. Best. And commercial lines are carrying on the struggle to turn pricing decisively […]
Frank Cowan Company will open a new branch in Cambridge, Ontario that will focus on dedicated specialty lines and program business. Steve Halfpenny, vice president of specialty lines, will lead the team. He will be working with Michael Lough, vice president of programs; Patrick Maloney, business development manager; and Annette Henry, manager of specialty lines […]
Monarch Intermediaries Inc. has launched a property and casualty brokerage-based program that provides employees of businesses and customers of insurers access to second opinions from WorldCare Consortium.WorldCare Consortium is composed of academic healthcare institutions, with a network of more than 17,000 physicians, specialists and sub-specialists. Monarch Intermediaries now enables private insurers, employers and associations to […]
2 min read
Ontario’s broker regulator, the Registered Insurance Brokers of Ontario (RIBO), is reporting an increasing number of fraudulent pink slips.RIBO says brokerage names are being ‘stolen’ and used on bogus auto insurance slips. In its winter bulletin, RIBO said the frauds have come to light when purported ‘insureds’ go to a broker’s office with a bogus […]
By Canadian Underwriter | January 6, 2012
The number of women arrested in the United States for driving while intoxicated (DWI) increased nearly 30% in the decade between 1998 and 2007, according to the Traffic Injury Research Foundation (TIRF).In TIRF’s report, State of Knowledge: Female Drunk Drivers, researchers reviewed research from the 1980s through to present day to describe the magnitude of […]
Impact Auto Auctions, a Canadian automotive salvage management company and a wholly-owned subsidiary of KAR Auction Services Inc. (NYSE: KAR), has opened a second Calgary-area location in Airdrie, Alberta.The new location, known as Calgary North, doubles Impact’s capacity in the Calgary area. The new site will feature enhanced reconditioning and inspection facilities, as well as […]
Belfor (Canada) Inc. has acquired Laurier Restoration Inc. Laurier is a Montreal-based restoration contracting firm owned and operated by Ian Thomas. Thomas will remain with the company as branch manager of the Montreal location. He said he is committed to growing Belfor’s presence within Quebec. “I am excited about the opportunities that are available to […]
The increasing popularity of online shopping presents heightened and expanding risks for retailers, including a network outage or downtime during a busy trading period, warns Lloyd’s.In a report, Online Shopping Delivers Greater Retailer Risk, published on its website, Lloyd’s said that with the increasing volume of online transactions, the potential for problems for retailers also […]
By Canadian Underwriter | January 5, 2012
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