Industry
Everest Re Group has boosted its Canadian presence, acquiring Premiere Underwriting Services and some operations of Executive Risk Insurance Services Ltd.Premiere Underwriting Services is a Toronto-based managing general agent specializing in entertainment, sports and leisure related risks. Moving forward, Premiere will operate as an affiliate of Everest Insurance Company of Canada. Everest Insurance Company of […]
By Canadian Underwriter | February 11, 2011
1 min read
A certain kind of toilet tank manufactured by Crane Plumbing Corporation is a potential flood threat for homeowners, SGI Canada has warned in its January 2011 issue of Insurance Matters.SGI notes the low-profile toilet tank, manufactured between 1980 and 1991, could potentially rupture without warning, causing flooding in the home. This particular type of toilet […]
By Canadian Underwriter | February 10, 2011
2 min read
Crawford & Company (Canada) has announced two appointments, one within its Contractor Connection operations and the other in its Class Action Services department.Michael Mooney is Crawford’s new vice president of Class Action Services.He joined the company in 2008, and in his new role will oversee the daily operations of Class Action Services. This department has […]
Manitobans seem to be in a rush to get to the weekend, with Fridays tending to see the most collisions – most of which are rear-end collisions – between 3 pm and 6 pm, according to Manitoba Public Insurance (MPI).MPI analyzed claims data from a five-year period (2005-09) and identified the Top 10 worst intersections […]
Intact Insurance employees helped Raise the Roof – a national charity focused on long-term solutions to homelessness – on Feb.8, encouraging Canadians to buy toques as part of a ‘toque yourself’ charity fundraiser.Raising the Roof has created a ‘toque yourself’ application, which allows a person to put a toque on his or her Facebook profile […]
iter8 Inc. and York Fire and Casualty Insurance are extending existing real-time broker connectivity using collabor8. York has already provided real-time processing of inquiry, new business and endorsement transactions for brokers using Keal, CIM-Data and PowerBroker broker management systems.The broker’s options have now expanded through the direct integration of PowerBroker, CIM-Data and Keal broker management […]
Establishing an organization’s risk tolerance level is a critical component of an organization’s risk management process, in much the same way brakes are a necessary component of winning car races, according to John Scott, chief risk officer of Zurich Global Corporate.Scott delivered his speech, ‘Zurich’s approach to Enterprise Risk Management,’ at a seminar for clients […]
By Canadian Underwriter | February 9, 2011
Intact Financial Corporation (TSX: IFC) announced it is expecting industry premiums to increase in 2011 at a pace similar to last year, with increases in the mid-single digits in personal auto lines and upper-single digits in personal property lines. “These increases will be driven by rate inadequacies in auto insurance in Ontario and the impact […]
The Financial Institutions Commission (FICOM), BC’s provincial insurance regulator, is recommending all provincially regulated insurers post their audited financial statements on their Web sites within 90 days of the end of the fiscal year. Under Section 130 of the Financial Institutions Act, provincial insurers are currently required to provide public access to financial information. Under […]
By Canadian Underwriter | February 8, 2011
North American property and casualty insurance companies currently using predictive modeling are seeing positive improvements in bottom-line results, according to a Web-based survey by Towers Watson.Predictive modeling uses advanced statistical modeling techniques, along with critical company and external data related to individual policyholders, competitors, marketplace conditions and customer behavior, to help underwrite risk. One example […]
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