Industry
Crawford & Company (Canada) offered RIMS Vancouver delegates a little taste of Paris in the heart of downtown Vancouver. Brix Restaurant and Wine Bar set the stage for the evening. Guests mingled on the 1912 Yaletown heritage building’s glass-covered courtyard before sitting down to a gourmet dinner.
May 31, 2011
1 min read
Intact Financial Corporation (TSX: IFC) has signed a definitive agreement with Paris-based AXA Group for the acquisition of its affiliate AXA Canada – the sixth-largest home, auto and business insurance company in the country – for $2.6 billion in cash. Intact announced a further performance-based contingent consideration of up to $100 million may also be […]
By Canadian Underwriter | May 31, 2011
2 min read
A group of 19 U.S. property and casualty reinsurers posted a combined ratio of 129.3% in 2011 Q1, marking a sharp deterioration from 2010 Q1’s combined ratio of 102.2%, reported the Reinsurers Association of America (RAA).The group’s underwriting loss ballooned from $328 million in 2010 Q1 to an underwriting loss of $2.1 billion in 2011 […]
SGI is implementing a graduated driver licencing program for motorcycle drivers. The Motorcycle Graduated Driver’s Licencing (MGDL) program will be implemented on June 18. It will have three stages: Learner, Novice 1 and Novice 2. As riders move through the stages, they will see fewer restrictions until they graduate to an experienced ‘M’ endorsed motorcycle […]
The Co-operators has announced a partnership with the Victorian Order of Nurses (VON) to support its physical fitness programming for older Canadians.The Seniors Maintaining Active Roles Together (SMART) Program is designed for people 55 and older who wish to improve their strength, balance and flexibility, regardless of their current ability level.SMART includes both group classes […]
The Co-operators General Insurance Company estimates its claims costs stemming from the Slave Lake, Alberta wildfires will range between $30 million and $35 million after tax and net of reinsurance.The estimate is a preliminary figure because of the restricted access to the area. A full assessment of the damage has not been possible, a Co-operators […]
By Canadian Underwriter | May 30, 2011
Despite flooding along the Richelieu River in Quebec, local mayors in the flooded areas have asked the provincial government to relax a ban forbidding people from rebuilding homes in so-called ‘0/20′ zones, The Gazette in Montreal reports.‘0/20′ zones are sections along the river that have been known to flood every 20 years. Quebec passed a […]
The Canadian Union of Postal Workers (CUPW) has presented what it calls a “final offer” to the Canada Post Corporation in effort to break an impasse in negotiations to avoid a postal strike.CUPW also issued a strike notice to Canada Post and the Minister of Labour. “If we have not reached a negotiated collective agreement, […]
Backflow valves are 85% effective in eliminating sewer backup, according to Galen Heinrichs, stormwater utility manager with the City of Saskatoon. Moreover, in that 15% of instances in which a home experienced some sewer backup despite having a backflow valve, the backflow valve was nevertheless 96% effective in reducing damage from the event, said Heinrich. […]
By Canadian Underwriter | May 27, 2011
Mutual policyholders of The Economical Mutual Insurance Company voted 649-192 on May 26 against a motion that would have removed its current board of directors and replaced it with directors named by VC & Company Advisory Ltd.VC & Company, a Toronto firm, represented dissident mutual policyholders that questioned the current board’s commitment to demutualize. VC […]
By Canadian Underwriter | May 26, 2011
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