Industry
Marsh & McLennan Companies Inc. (MMC) reported a net loss in 2009 Q2 of US$193 million, compared to a profit of US$65 million in 2008 Q2.Marsh’s quarterly result includes a US$315-million writedown related to Kroll Government Services, a U.S. government security clearance screening business that Marsh owns. Marsh has indicated it plans to sell parts […]
By Canadian Underwriter | August 5, 2009
1 min read
Munich Re’s profit of US$1.4 billion in the first half of 2009 was down 20.1% over the same period last year, the company has reported.In property and casualty reinsurance, the company’s combined ratio came to 97.7% for the months of January to June 2009.In the first half of 2009, overall loss expenditures for major losses […]
By Canadian Underwriter | August 4, 2009
The number of cars stolen in Quebec is decreasing, but the number of thefts of articles taken from inside cars is increasing, reports Insurance Bureau of Canada (IBC).More than 31,000 vehicles were reported stolen in Quebec in 2008, marking a decrease of 14% from 2007.However, there were 40,107 thefts of articles taken from inside cars, […]
Banks should not be allowed to do electronically what they cannot do in their physical branches.
By David Gambrill, Editor | July 31, 2009
3 min read
ONTARIO AUTO RATES UP 5.86% IN 2009 Q2 THE FINANCIAL SERVICES Commission of Ontario (FSCO) approved an average rate increase of 5.86% for auto insurance, when weighted by market share, in 2009 Q2. Belair Insurance Company Inc. received approval for a decrease of 0.47%. It was the only insurer to decrease its rates in the […]
July 31, 2009
More than 140 CARSTAR Collision Centres in Canada and the United States washed in excess of 6,000 cars, earning the Guinness World Record title for the largest car wash. In Canada, on June 20, more than 80 locations participated in the Soaps it Up National Car Wash Day, which raised more than Cdn$100,000 for the […]
The 11th Annual McKellar Charity Golf Day raised more than Cdn$19,500 for Women in Insurance Cancer Crusade (WICC). The golf day was held at Crosswinds Golf & Country Club in Burlington, Ontario on June 15, 2009. Participants from the legal and insurance claims communities enjoyed a fun-filled day of events, including morning clinics with golf […]
The insurance industry came out in droves for The Canadian Cancer Society’s Relay For Life. The relay is a celebration of survival and a tribute to the lives of loved ones who have been touched by cancer. In June, teams of 10 people participated in a 12-hour overnight non-competitive relay, taking turns walking, running or […]
Hundreds of people attended an evening of support and celebration for Siobhan Usher-Post of National Brokers Insurance Services, courtesy of the Butterfly Kisses and Granting Wishes Fund. The event, the first for the fund, was held June 23 at the Steam Whistle Brewery in Toronto. Usher-Post, a non-smoker, was diagnosed with lung cancer in December […]
XL Capital Ltd celebrated its fourth annual employee volunteer day — XL’s Global Day of Giving — on June 3. The day is dedicated to supporting the communities in which XL companies operate. Employees have donated thousands of hours of community service to hundreds of charitable projects in various locations worldwide since the Global Day […]
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