Industry
Chartis Insurance Company of Canada has launched a product offering first party coverage for expenses and construction completion delay resulting from the unexpected discovery of heritage resources at a construction site.Heritage Resources is available as an endorsement to Chartis Canada’s Builder’s Risk policy forms. “In the event of an unexpected discovery of heritage resources, the […]
By Canadian Underwriter | July 14, 2011
1 min read
PPG Automotive Refinish has introduced a new waterborne midcoat to its Vibrance Collection.The new product, VWM5556 Waterborne Midcoat, is a waterborne solution for painters using custom colours, special-effect colourants and pigments available in the PPG Vibrance Collection of coating. Previously, only solvent-based midcoats were available.As a multi-purpose midcoat layer for PPG waterborne basecoats, VWM5556 provides […]
EQECAT is launching an updated version of its Canada quake model in July. The model, part of EQECAT’s WORLDCATenterprise platform, will feature the following key aspects:• Consistent results across the U.S. border: the use of identical definitions for events affecting both countries expedites analysis of international portfolios.• Perils covered: in addition to calculating losses from […]
By Canadian Underwriter | July 13, 2011
Texting while driving is the Number 1 road safety concern of Quebecers and Canadians, according to a Canadian Automobile Association (CAA) poll.”Although it may seem obvious to say that texting while driving is dangerous, far too many drivers are ready to run the very potent risk of causing an accident,” commented Yvon Lapointe, director of […]
Quebec’s insurance regulator has inked a deal with France’s insurance regulator to facilitate mobility of insurance and securities professionals between Quebec and France. “This mutual recognition of professional qualifications will benefit individuals from Quebec and France who wish to pursue their securities or insurance careers in either jurisdication,” an Autorité des marches financiers (AMF) release […]
The Insurance Corporation of B.C. (ICBC) is examining its options to reduce a basic rate increase for next year.ICBC has advised the British Columbia Utilities Commission (BCUC) that it will file its basic rate application by the end of the year. “Filing later this year will enable the corporation to examine options to reduce a […]
Validus Holdings Ltd. (NYSE: VR) has made an offer to acquire Transatlantic Holdings Inc. (NYSE: TRH) for $3.5 billion.The Validus offer essentially starts a bidding war for Transatlantic, trumping a previously announced, $3.2-billion offer for Transatlantic in June 2011 by Allied World Assurance Company Holdings AG.”Based on today’s closing prices, Validus’ proposal would provide total […]
2 min read
The Kativik Regional Government (KRG), which delivers public services to the Kativik region in Quebec’s far north, is calling on Quebec’s no-fault insurance scheme to apply to off-road vehicle accidents in Nunavik.Quebec’s automobile insurance act currently does not cover accidents on public roads that involve ATVs or snowmobiles. And Quebec law now bans off-road vehicles […]
By Canadian Underwriter | July 12, 2011
SGI says it is looking into hiring independent appraisers to assist in handling about 1,200 auto claims that need estimates arising from a July 3 hailstorm in Regina.The union representing most SGI employees, the Canadian Office and Professional Employees Union (COPE), Local 397, is currently in a job action situation and its members are not […]
Prospera Credit Union, the fourth-largest credit union in B.C., has sold Prospera Insurance Agencies (PIA) to Westland Insurance Group. “Our board and management determined that we needed to find a partner with the same values and culture around member service and who would provide options for career growth to our staff,” said Bruce Howell, president […]
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