Industry
Sixty-five per cent of 76 international companies surveyed by international legal practice Norton Rose Group said they do not conduct detailed due diligence on incoming key personnel provided by their supplier.”The majority of customers assume that their suppliers will have done the necessary due diligence on their own staff and do not see the need […]
By Canadian Underwriter | November 15, 2011
2 min read
York Fire & Casualty Insurance Company has become Unica Insurance Incorporated and will operate under the Unica brand name, the company announced on Nov. 14.The re-branding of York represents a milestone in the reinvention of the company since its acquisition in 2008 by La Capitale General Insurance, one of Quebec’s largest P&C insurers, the company […]
By Canadian Underwriter | November 14, 2011
1 min read
The Insurance Brokers Association of Ontario (IBAO) has presented its 2011 Awards of Excellence recognizing prominent insurance brokers and brokerages throughout Ontario. The awards were presented at the IBAO’s 91st Annual Convention in Toronto.The winners of the 2011 IBAO Awards of Excellence were:•Individual Broker: Craig Musico, Callister Musico Ins. Group Inc, Sarnia •Young Broker: […]
The Ontario Superior Court of Justice has allowed a plaintiff to add a defendant to a product liability action despite the expiry of a two-year limitation period, because doing so met the test that allows “the correction of a misnaming or misdescription of a party.”In a statement of claim on April 12, 2006, plaintiffs Karen […]
By Canadian Underwriter | November 11, 2011
The Co-operators has launched a toolkit offering guidance for leading more environmentally sustainable lives. Sustainability at Home: Decision making help for your everyday choices was released in partnership with The Natural Step Canada.The toolkit presents Canadians with practical tips and ideas on how to “green” their homes on a room-by-room basis. It is designed as […]
EGI Financial Holdings Inc. reported a $2.3-million profit in 2011 Q3, up $2.3 million over 2010 Q3.For the first three quarters of 2011, EGI recorded a $10-million improvement in underwriting results over the same period in 2010.The company’s combined operating ratio (COR) in non-standard auto dipped from 102% in 2010 Q3 to 91% in 2011 […]
RSA has announced changes to its operating structure that will see RSA Canada president and CEO Rowan Saunders appointed to its Global Group executive team.Effective Jan.1, 2012, RSA Group will be organized into four regions: UK & Western Europe, Scandinavia, Canada and Emerging Markets. As a member of the Global Group executive team, Saunders will […]
Munich Re posted a profit of roughly $110 million in the first nine months of 2011, compared to a profit of $2.7 billion during the same period of 2010. The group posted a profit of $401 million in 2011 Q3, a drop from 2010 Q3’s profit of $1.1 billion.Its reinsurance business reported a combined ratio […]
By Canadian Underwriter | November 10, 2011
Driving without winter tires will not void an insurance policy in the event of a claim, but in a scenario in which a driver has crashed and winter tires may have helped to avoid it, it may be a deciding factor in determining fault, ICBC said.”Drivers are always responsible for ensuring their vehicles are properly […]
Insurance Brokers Association of Ontario (IBAO) launched a mobile service for its members to assist with productivity and keep brokers organized while on the go. The new service, called ‘hereiam,’ allows brokers to:•Listen and compose emails while driving. The hereiam app will read email messages back to the subscriber. It also records voice notes and […]
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