Industry
ING Canada has officially become Intact Financial Corporation, after shareholders approved the name change. The name change reflects the acquisition on February 19 by institutional and retail investors of all the shares held by ING Groep in the company, Intact Financial Corporation said in a release.As a result of these transactions, ING Canada became an […]
By Canadian Underwriter | May 15, 2009
1 min read
The Supreme Court of Canada has declined to hear the appeal of Optimum Insurance Company in a duty-to-defend case involving the accidental shooting death of a friend at a house party in New Brunswick.The Supreme Court’s decision represents the end of the line for Optimum, which argued that it did not have a duty to […]
By Canadian Underwriter | May 14, 2009
2 min read
A new form of “process management technology” — a sophisticated application for e-mail and document tracking — is being focus-tested in Canada and may have some application to claims processing, underwriting, audit and/or the project management sides of the property and casualty business.The technology is called ‘ActionBase’ and OARBIC Inc., which represents ActionBase in Canada, […]
Celent estimates that 90% of personal auto insurance purchases in the United States will be researched online by 2011.Nicolas Michellod, a Celent analyst, delivered a Webinar entitled ‘Online Insurance Sales and Marketing: What’s Happening and What’s Next?’Michellod pointed to Celent research that found approximately 80% of 2008 auto insurance purchases were at least Web-researched, more […]
The demand for trip cancellation coverage seems likely to increase as the threat of H1N1 flu continues to plague travellers. The Travel Health Insurance Association (THIA) is urging Canadians who are planning international trips to protect their health and travel investment by getting trip cancellation and interruption insurance. Travellers must be made aware of the […]
The ephemeral nature of electronic media is a double-edged sword, in that it can both expand and limit exposure to media liability, a prominent media lawyer told a PLUS Canadian Chapter educational seminar in Toronto.In terms of expanding liability exposure, Peter Jacobsen, a media lawyer and partner at Bersenas Jacobsen Chouest Thomson Blackburn LLP, suggested […]
By Canadian Underwriter | May 13, 2009
Merger and acquisition activity appears likely to heat up within Canada’s insurance brokerage marketplace, but it’s unlikely the activity will involve larger brokerages, Eric Andersen, CEO of Aon US Retail, said in an Advisen Webinar on May 13.In an earlier report, Advisen predicted an uptick in merger and acquisition activity in the U.S. marketplace. In […]
Paris Re Holdings Limited has reported an IFRS net income of US$118.6 million for 2009 Q1, compared to an IFRS loss of US$129.5 million in 2008 Q1. The combined ratio for the quarter was 92.2%, compared to 93.3% for 2008 Q1.Gross written premium was US$661.1 million for 2009 Q1, down from US$780.5 million for the […]
The Ontario Superior Court has ruled that an insurer has a duty to defend an insured even when the conduct of the claimant — specifically, whether that conduct was illegal — is at the heart of the issue of whether there is policy coverage for the claimant’s liability.”The duty to defend is broader than the […]
By Canadian Underwriter | May 12, 2009
The Saskatchewan Mutual Insurance Company (SMI) is continuing its investment as a full partner of the Insurance Brokers Association of Canada (IBAC)’s Broker Identity Program.“SMI is pleased to continue its support of the Broker Identity Program,” Laura Wiebe, president and CEO of SMI, noted in a release. “We have long recognized the value independent brokers […]
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