Industry
Hub International Limited (Hub), an insurance brokerage firm, has acquired the assets of four middle market agencies that operate as part of the Phoenix Insurance Group Inc. (Phoenix), a cluster partnership of various Alberta-based brokerages. Terms of the acquisitions were not disclosed. The recently announced acquisitions include the operations of Phoenix located in Edmonton, Red […]
By Canadian Underwriter | April 5, 2011
1 min read
Carriers in the airline insurance market paid out approximately $2.1 billion in claims in 2010, compared to an average of $1.5 billion between 1998 and 2009, Aon reported.In its Airline Insurance Market Outlook 2011, Aon noted that the 2010 claims cost marks a decrease from 2009’s $2.3 billion of claims.”It appears as though the loss […]
By Canadian Underwriter | April 4, 2011
SGI Canada is cautioning Saskatchewan residents about potential water damage that could be caused by flooding due to spring thaw. “This winter, parts of Saskatchewan have seen much higher than normal levels of snow accumulation,” said Rick Barks, SGI Canada’s assistant vice president of personal lines.”With the coming spring thaw, your home may be at […]
The U.S. property and casualty market held relatively steady during 2010, but an over-reliance on investment income, inadequate reserving and increasing frequency of weather events may tip the scales in 2011.During an A.M. Best Webinar, State of the Property/Casualty Market, a team of panellists offered their views on the current state of the market.Anthony Diodata, […]
By Canadian Underwriter | April 1, 2011
2 min read
Cunningham Lindsey Canada Claims Services Ltd. has promoted Maureen Fraser to vice president of business development. Fraser joined CLC in 1996. She has worked in varying positions, including accident benefit adjuster, call centre manager and business development representative. “Maureen has been a longstanding member of our sales team,” says Albert Poon, CLC’s senior vice president […]
AEGIS London, a Lloyd’s syndicate and subsidiary of AEGIS (Associated Electric & Gas Insurance Services Limited), has announced two Canadian-based appointments.Nazir Haji has been appointed senior vice president of business development. Spencer Shusterman is senior vice president of claims.The appointments are part of AEGIS’s plans to support and grow its coverholder business in Canada.Haji is […]
Relatively orderly price movements at the Apr. 1, 2011 Japanese reinsurance renewals reveal the Magnitude 9.0 Tohoku earthquake of Mar. 11 is not the catalyst that will bring about a hard market, according to Willis Re, the reinsurance broking arm of Willis Group Holdings (NYSE: WSH).However, the total tally of first quarter devastation – including […]
Considering and/or executing a successful amalgamation is a key challenge facing mutual insurance companies going forward, according to seminar speakers at the Ontario Mutual Insurers Association meeting held in Toronto on Mar. 31.Six panelists represented Townsend Farmers’ Mutual Fire Insurance Company, Tradition Mutual Insurance Company and Trillium Mutual Insurance Company at a panel discussion entitled […]
Regulation Feds’ commitment to new demutualization rules postponed by Spring election The federal government’s proposed budget, introduced on Mar. 22, 2011, confirmed the government was working on a regulatory framework that would allow property and casualty insurance companies to demutualize. As of press time, the budget had been defeated, triggering a May 2, 2011 election. […]
March 31, 2011
4 min read
Insurance Brokers Association of Canada (IBAC) technology champion Sheldon Wasylenko has found himself squarely in the middle of an industry effort to untangle a spider web characterizing broker and carrier connectivity.
By David Gambrill, Editor | March 31, 2011
6 min read
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