Industry
Four high school students have been awarded top spot in the Insurance Corporation of British Columbia’s ‘Your Ad Here’ contest. ICBC asked B.C. high school students in grades 8 through 11 to create print ads in one of three topics on road safety: impaired driving, speeding or distracted driving. The contest, which saw more than […]
By Canadian Underwriter | March 15, 2011
1 min read
Insured property losses from the March 11 Japan earthquake will likely range from $15 billion to $35 billion, reported AIR Worldwide. The event is Japan’s costliest event to date – and possibly one of the costliest in world history – but experts remain optimistic that the (re)insurance industry will have the financial strength to pay […]
By Canadian Underwriter | March 14, 2011
2 min read
The March 11 Japan earthquake triggered tsunami waves that crossed the Pacific and thrashed the coast of California, causing at least $50 million in economic damages and killed one person, reported the Los Angeles Times.The 9.1-magnitude quake off the coast of Japan triggered an ocean surge, setting off tsunami warnings along the North American Pacific […]
The Honda Odyssey minivan, and three GM SUVs manufactured after January 2011 – GMC Acadia, Chevrolet Traverse, and Buick Enclave – are the latest 2011 Top Safety Pick winners, reported the Insurance Institute for Highway Safety (IIHS).The Odyssey is the second minivan after the Toyota Sienna to earn Top Safety Pick since the IIHS tightened […]
The Autorité des marchés financiers (AMF) has reached an agreement with St. Paul Fire and Marine Insurance Company, after the insurer failed to properly file its statistical data with the regulator. The insurer was ordered to pay a $35,000 fine and implement an action plan, developed with the AMF, to ensure it files its statistical […]
Adjusting firms are springing to action in response to the March 11 Japan earthquake.The first of Cunningham Lindsey’s CAT team members are set to arrive in Tokyo over the next few days to support clients in Japan and internationally. Crawford & Company said it has implemented its catastrophe response plan, drawing on Global Technical Services […]
CFC Undewriting has launched ProSurance RES, a new combined policy for Canada’s recruitment, employment and staffing agencies. RES offers vicarious liability cover for placed personnel, in addition to office cover and general liability. “This means the agency’s legal liability is explicitly protected from acts of negligence or errors and omissions by personnel they’ve placed,” CFC […]
Profits have generally improved for the 36 Canadian property and casualty insurance companies appearing in an updated version of the 2010 SCOR Report.Individual companies writing more than $1 billion in premiums in the report include Axa Canada, Co-Operators General (Consolidated), Desjardins General Insurance Group, Intact Financial Corporation, Royal SunAlliance Group, TD Insurance and Wawanesa Mutual.Overall, […]
By Canadian Underwriter | March 11, 2011
Kane, a provider of specialist risk and insurance management services, has signed an agreement to acquire the insurance management operations of HSBC.Under the agreement, which has been signed with HSBC Bank Bermuda Ltd., HSBC Bank Cayman Ltd. and HSBC Insurance Agency (USA) Inc., Kane will acquire HSBC Insurance Holdings (Bermuda) Ltd., HSBC Insurance SPC Ltd., […]
Guy Carpenter & Company, a global risk and reinsurance specialist, and a member of Marsh & McLennan Companies (NYSE: MMC), has been selected as the new placing broker for the Caribbean Catastrophe Risk Insurance Facility (CCRIF). CCRIF is a risk pooling facility for 16 Caribbean governments. It is designed to limit the financial impact of […]
By Canadian Underwriter | March 10, 2011
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