Industry
York Fire & Casualty Insurance Company is now Unica Insurance Incorporated and will operate under the Unica brand name, the company announced on Nov. 14. The re-branding of York follows its acquisition in 2008 by La Capitale General Insurance, one of Quebec’s largest P&C insurers. The company reiterated what it called its “steadfast commitment” to […]
December 31, 2011
1 min read
Hollywood actor James Woods was on hand to help CARSTAR Automotive Canada Inc. celebrate the grand opening of its 16,000-square-foot new head office in Hamilton. Following the grand opening, the company hosted more than 600 guests at a casino-themed event in support of Cystic Fibrosis Canada (CFC). With help from Woods, Sam Mercanti, CARSTAR’s president […]
Catlin Canada held a Christmas party, dubbed ‘Festive Ping Pong,’ at SPiN Toronto on Dec. 7. Guests were treated to appetizers, drinks and, of course, some friendly matches of ping pong.
Sotheby’s Canada, in partnership with XL Insurance, hosted a private preview and VIP cocktail reception of Sotheby’s fall sale of Important Canadian Art at the Royal Ontario Museum in Toronto on Nov. 23. Guests were treated to sale highlights and tips for bidding at auction with Sotheby’s Canada president David Silcox. One night after the […]
Flooding in Western Canada topped Environment Canada’s list of ‘Top 10 Weather Stories for 2011,’ one step above the devastating wildfire in Slave Lake, Alberta.Overall, severe weather accounted for almost $1.5 billion worth of insurance claims payouts and adjustment expenses, the Globe and Mail reports, citing the Insurance Bureau of Canada. That’s the second-highest total […]
By Canadian Underwriter | December 22, 2011
3 min read
Estimated insured damage caused by windstorms that hit southern Alberta in November amounts to at least $200 million, Insurance Bureau of Canada (IBC) reports, citing a preliminary estimate reported by Property Claim Services Canada (PCS-Canada).Data collected by PCS-Canada, a service that tracks insured losses arising from catastrophic events in Canada, confirms that thousands of claims […]
The U.S. property and casualty industry’s net income plunged to $12.8 billion for the nine months ended Sept. 30, 2011, down from the net income of $33.0 billion for the same period of 2010, according to A.M. Best’s ‘Best’s Special Report.’ Natural catastrophe losses, particularly in the first half of 2011, were cited as the […]
Capacity in the global insurance market remains plentiful and across the board rate rises are not being seen, despite record insured catastrophe losses of more than $100 billion in 2011, Marsh reported. In its ‘Global Insurance Market Quarterly Briefing: Q4 2011′ Marsh describes a “two-speed” insurance market, where those areas affected by catastrophes are seeing […]
2 min read
European risk managers generally believe coverage and capacity for supply chain risks is insufficient, according to a survey by the Federation of European Risk Management Associations (FERMA). The majority of the 153 respondents were FERMA members in the manufacturing sector. Of those, 52% said they were very concerned about continuity of supply from direct suppliers. […]
By Canadian Underwriter | December 21, 2011
An Ontario Court of Appeal decision in R. v. Nedelcu has provided a “strong message” that self-incriminating evidence given during an examination for discovery at an insured’s civil trial cannot be introduced at the insured’s criminal trial concerning the same matter.”Adjusters and defence counsel can take solace in the fact that they can proceed through […]
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