Industry
Ontario’s personal auto accident results are already showing signs of a drastic improvement, one year after the implementation of the reforms.Jeff Mango, assistant vice president at A.M. Best, offered his thoughts on the effectiveness of the auto reforms during A.M. Best Company’s 2011 Insurance Market Briefing-Canada, held in Toronto on Sept. 8.The loss ratio for […]
By Canadian Underwriter | September 8, 2011
2 min read
Solvency II will likely not have a direct impact on the Canadian reinsurance market, but European parent companies with Canadian branches will likely impose the requirements of the regulatory regime on their Canadian subsidiaries, said Gale Guerra, senior financial analyst at A.M. Best Company.Guerra offered an overview of the status of the Canadian reinsurance industry […]
1 min read
Darryl Levy has been appointed president and CEO of Grain Insurance & Guarantee.In his most recent position, Levy was regional president of Ontario and Western Canada at Rogers Communications. A graduate of the University of Manitoba, Levy is a member of the Business Council of Manitoba, the Young Presidents Organization and the executive advisory board […]
First General Enterprises (Ontario) Ltd., which operates as First General Services Canada, has taken over the management of the entire North American First General Services network, effective immediately.”This acquisition creates a truly unique North American network of restoration contractors,” says chief executive officer Michael Flatt. “It is the only North American network run uniformly out […]
By Canadian Underwriter | September 7, 2011
Ontario auto insurance policyholders were about four times more likely to purchase the increased death and funeral benefit than any of the other optional benefits offered under the province’s reformed auto insurance scheme.Ontario’s insurance regulator, the Financial Services Commission of Ontario (FSCO), asked the largest private passenger auto insurance insurers in Ontario to complete a […]
A.M. Best Co. has assigned a financial strength rating (FSR) of A (Excellent) to Manitoba-based Grain Insurance and Guarantee Company. Grain Insurance and Guarantee also received an issuer credit rating of “a” from the rating agency. The outlook for both ratings is stable, says an A.M. Best release. “Partially offsetting these positive rating factors are […]
The Institute for Catastrophic Loss Reduction (ICLR) has launched a new mobile Web site. The site is a “stripped down, simplified and easy to navigate version of the Institute’s main site,” an ICLR release says. The user simply plugs in ICLR’s main URL (www.iclr.org) into his or her smart phone or mobile device’s browser and […]
A.M. Best is maintaining a stable outlook for the Canadian property and casualty industry based the industry’s strong risk-adjusted capitalization in 2010, stable investment income and the doubling of its comprehensive income between 2009 and 2010.But significant challenges for the industry remain, including Ontario auto insurance fraud, the importance of insurance to value (ITV) following […]
By Canadian Underwriter | September 6, 2011
Aran Insurance Services Group has announced that its property and casualty subsidiary, MiniCo Insurance Agency LLC, will offer specialty insurance programs in Canada through its new affiliate, MiniCo Insurance Agency of Canada Incorporated. MiniCo’s self-storage product line will be available in Canada during 2011 Q4 through Aspen Insurance UK Ltd., a subsidiary of Aspen Insurance […]
An F-0 tornado touched down in Trois-Rivières, Quebec on Sept 4, damaging more than 70 homes, cbcnews.ca reported. The twister uprooted trees, shattered car windows and damaged roofs when it ripped through the Saint-Therese neighbourhood in the city just after 7 pm. An F-0 tornado is the weakest on the Fujita scale, but winds can […]
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