Industry
Zurich Financial Services Group (Zurich) has announced one of its non-core subsidiaries in the United Kingdom, Zurich Specialties London Ltd, will transfer its run off insurance business to Swiss Re at book value. “This transaction forms an integral part of Zurich’s announced strategy to divest most of its non-core businesses to release and redeploy $1.5 […]
By Canadian Underwriter | June 15, 2011
1 min read
The New Brunswick Insurance Board has ordered The Dominion to change its 2010 private passenger rate filing application from a 0.49% increase to a 3.3% decrease, retroactive to Mar. 1, 2010 for new business and May 1, 2010 for renewal business. The board held the rate hearing in April 2011 after a Court of Appeal […]
Preventive programs seem to be helping reduce the incidence of teens driving under the influence of alcohol, reported the Insurance Information Institute.Immaturity, lack of driving experience, night driving and teen passengers are the primary contributors to the high crash rate among teens, the III reported. Motor vehicle crashes are the leading cause of death among […]
Swiss Re Group has appointed J Eric Smith as president and CEO of the Americas, effective July 11.Smith will replace Pierre Ozendo, who will retire after more than 35 years in the insurance industry. Upon his retirement, Ozendo will join the board of Swiss Re America Holding Corporation as a non-executive director. Smith, a 30-year […]
ClaimsPro Inc. has inked a deal to acquire Brouwer Claims Canada, a Vancouver-based independent adjusting firm that has been servicing Western Canada for over 25 years.The acquisition provides ClaimsPro with an additional 20 branch offices. Combined, ClaimsPro and Brouwer will have a staff of more than 1,050 insurance professionals. “The transaction, to close shortly, aligns […]
The Insurance Bureau of Canada (IBC) believes the New Brunswick insurance market could sustain a “modest, one-time” increase to the province’s $2,500 minor injury cap, and recommends the cap be indexed annually to inflation.IBC also recommends changing the province’s definition of a minor injury to Alberta’s definition.The trade association representing Canada’s home, auto and business […]
By Canadian Underwriter | June 14, 2011
2 min read
RSA Travel Insurance Inc./Assurance Voyage RSA inc. has agreed to acquire the business assets and insurance expertise of etfs, along with the etfs trademarks. Headquartered in Sherbrooke, Quebec, etfs Travel Insurance currently provides a full range of travel and health insurance products on an individual and group basis through brokers, associations, travel agents, direct, affinity […]
Bed bug insurance is now being offered to the at-risk market. Aon Risk Solutions has aligned with Global Excess Partners and Terminix to provide a bed bug insurance solution for hotels, landlords, student housing, corporate business and leisure travellers. The suite of products offers an integrated pest management approach. It combines insurance coverage with Terminix’s […]
Mitchell International Inc. has appointed Tim Malone as director of sales and service for Mitchell’s Canadian operations. Malone has been active in the Canadian auto repair industry for more than 20 years. He began his career in sales and warehouse management, and progressed through various senior sales positions over the past 15 years.Malone will lead […]
A series of earthquakes striking near Christchurch, New Zealand on June 13 is expected to cause an additional $3 billion to $5 billion in insured losses, according to the catastrophe modeler EQECAT. The U.S. Geological Survey describes the quakes as “aftershocks,” following a Magnitude 7 earthquake that struck the area on Sept. 3, 2010. Eleven […]
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