Industry
Communities in the northeast of B.C.’s Interior have far higher rates of drunk driving than its urban areas, a Globalnews.ca investigative report has found.Through an access-to-information request, Globalnews.ca obtained ICBC’s investigation records of alcohol-related licence suspensions and the totals of licenced drivers by postal code. The areas with the highest rate of impaired driving tend […]
By Canadian Underwriter | June 30, 2011
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A.M. Best has assigned a financial strength rating of A (Excellent) and issuer credit ratings of “a+” to Aviva Insurance Company of Canada and its affiliates.Aviva’s affiliates include Elite Insurance Company, Traders General Insurance Company, Pilot Insurance Company, Scottish & York Insurance Company and S&Y Insurance Company. The outlook assigned to all ratings is positive.The […]
The Department of Finance Canada has wasted no time launching its anticipated public consultation on the demutualization of Canadian property and casualty insurance companies, setting the deadline for submissions on July 31, 2011.The Finance Department committed to establishing regulations for the demutualization of a Canadian P&C insurance company in its budget, released on June 6. […]
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The Manitoba government is increasing sanctions for impaired drivers, including longer short-term driver’s licence suspensions. The changes to the Highway Traffic Act take effect on Aug. 15. They include the following, immediate tiered suspensions:•24 hours for a first violation of operating a motor vehicle, boat, train or plane with a blood alcohol concentration of .05 […]
Reinsurers are increasingly speculating about triggers for a market turn after an “exceptional” run of natural catastrophes over the past 16 months has cost reinsurers approximately US $48 billion and insurers US $86 billion, says Willis Re, the reinsurance arm of global insurance broker Willis Group Holdings (NYSE: WSH). Offsetting the reinsurance losses, during the […]
Keal Technology and York Fire & Casualty Insurance Company have announced a new integration solution, Keal Connect, which connects Keal’s broker management system (BMS) to the insurer without any need for middleware or third-party software.Keal Connect sends CSIO XML data in real-time from sigXP directly to York’s broker support systems and eliminates additional software requirements […]
By Canadian Underwriter | June 29, 2011
The Co-operators has announced $149,700 in grants to support the work of nine community-based organizations that help marginalized Canadians move toward self-reliance. The funding is provided through The Co-operators Foundation’s Community Economic Development (CED) Fund. The CED fund is part of The Co-operators Foundation, which supports social economy enterprises and other worthy causes throughout Canada. […]
The Financial Services Commission of Ontario (FSCO) has made implementing administrative monetary penalties a priority. In its Statement of Priorities & Strategic Directions, FSCO said it will work with the Ministry of Finance to enhance regulatory effectiveness by considering the enforcement tool of administrative monetary penalties in insurance. Such a system would allow the regulator […]
Creechurch International Underwriters Ltd. has launched an architects and engineers (A&E) professional liability product. Coverage under the A&E MediaTech Liability Policy includes:•A&E professional liability;•A&E contractors pollution liability;•technology based services coverage;•technology products coverage;•computer network security coverage;•multimedia and advertising coverage;•directors and officers liability extension; and •employment practices liability extension.
FirstOnSite Restoration has expanded its British Columbia leadership team with three new hires. The appointments include:•Joseph DeAngelis, vice president and general manager of the B.C. region. Prior to joining FirstOnSite, DeAngelis was the vice president of business development and sales for consumer electronics, where he led international sales, product development and customer operations for major […]
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