Industry
Quebec’s insurance regulator is teaming up with the province’s auto insurance companies to simplify the province’s auto insurance policies.Autorité des marchés financiers (AMF) and Groupement des assureurs automobiles du Québec (GAA) announced on Dec. 16 that they have begun the task of simplifying automobile insurance policies Q.P.F. 1 and 5, as well as their endorsements, […]
By Canadian Underwriter | December 16, 2011
2 min read
Based on the eurozone sovereign debt crisis, A.M. Best Europe Rating Services Limited has affirmed the financial strength rating (FSR) of ‘A’ (Excellent) for the non-operating holding company Aviva plc and its subsidiary companies, but has placed the ratings under review with negative implications.”These rating actions were driven by Aviva’s exposure to investments in several […]
By Canadian Underwriter | December 15, 2011
1 min read
Russell Brownlee of Giffin Koerth has been appointed as the CEO’s representative to the Ontario Provincial Standards (OPS) Traffic Safety Committee. The OPS Traffic Safety Committee is responsible for standards related to traffic safety such as attenuators, delineation, pavement markings, roadside barriers, end treatments, crash cushions, arrestors, anti-glare screens, traffic control signing, fencing and winter […]
Stephen Coombs has been appointed director of Ontario sales of Strone, which has provided emergency and restoration services to the insurance industry since 1987. Strone has 13 branches throughout Ontario and one in Montreal. Coombs has played an integral part in the development of Strone for more than 10 years, having fostered strong relationships and […]
This year will go on record as the most expensive year for the global insurance industry, second only to 2005, according to Swiss Re’s sigma records. Given roughly $108 billion in insured catastrophe losses in 2011, this year is thus far just shy of 2005’s record of $123 billion in insured catastrophe losses. Year 2005 […]
The 2009 Toyota Venza has trumped the 2000 Honda Civic SiR as the most frequently stolen vehicle in Canada in 2011, reports the Insurance Bureau of Canada (IBC). Also, many of the stolen vehicles are showing up in the local market and being sold to unsuspecting consumers instead of being exported out of Canada, representing […]
By Canadian Underwriter | December 14, 2011
Rick Orr has been elected as the Insurance Brokers Association of Ontario (IBAO)’s 69th president. He was officially inducted at the IBAO Convention in October, and will formally assume his role as president on Jan.1, 2012.Orr is the co-owner of Orr Insurance Brokers Inc. in Stratford, Ontario. He is a fourth generation insurance broker working […]
XL Group is growing its presence in Toronto with three new additions to its North America Property & Casualty insurance team.The new hires include Betty Bingler, vice president of sales and marketing; Melissa Plaxton, senior underwriter for excess casualty; and Martina Perdue, environmental underwriter. Bingler joins XL from ACE, where she served as vice president […]
Quebec’s Panel of Experts on Automobile Insurance Contributions is recommending to Quebec’s auto insurer, the Société de l’assurance automobile du Québec (SAAQ), that license fees for motorbikes should better reflect the real risk of driving motorcycles.The mandate of the Panel of Experts is to review the approach taken by the SAAQ and the data it […]
By Canadian Underwriter | December 13, 2011
The month of December has the second-highest average of collision victims after January, according to MPI’s collision data. The police-reported collision data was collected over a five-year period (2005-09). Over the last three years, a total of 25 people have been killed in December on Manitoba roadways. On average, the month sees 733 collision victims, […]
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