Industry
The third annual ‘Insurance Challenge,’ a bike ride to raise money for the Juvenile Diabetes Research Foundation, will take place in Toronto on Oct. 1. Hosting more than 7,400 participants from various financial sectors, the Ride for Diabetes Research will be held at the Metro Toronto Convention Centre. The ‘Insurance Challenge’ is just one of […]
By Canadian Underwriter | September 7, 2010
1 min read
Alberta-incorporated property and casualty insurers nearly doubled their consolidated net income from $18.3 million in 2009 H1 to $31.9 million in 2010 H1.The figures reflect results reported by:• Alberta Motor Insurance Company;• Canadian Farm Insurance Company; • Fortress Insurance Company;• Mennonite Mutual Insurance Company;• Millennium Insurance Company; • Peace Hills Insurance Company; and• Trans Globe […]
By Canadian Underwriter | September 3, 2010
Claims
Gilbertson Davis Emerson LLP has recruited accident benefits and insurance defence counsel Joan Takahashi to its team of insurance lawyers.Takahashi previously practiced with a large firm in Toronto and nearly 20 years of insurance defence experience. She also spent more than 10 years working in the insurance industry in multi-line claims adjusting, as well as […]
Members of the insurance industry are reminding consumers to not drink and drive during the Labour Day holiday weekend.In British Columbia, on average there are approximately 1,725 crashes, 515 injuries and five fatalities over the Labour Day weekend, ICBC reports.Police reported that the top contributing factors in Labour Day long weekend crashes are driver inattentiveness, […]
Canadian Direct Insurance has posted its third consecutive record quarterly profit, reporting a $3.6-million net income in 2010 Q3, up $300,000 from a year ago.”The strong results were driven by a 7% increase in net earned premiums, partially offset by a higher claims and policy acquisitions costs,” Canadian Direct’s parent company, Canadian Western Bank (CWB), […]
Business Monitor International (BMI) is predicting premium growth in Canada’s property and casualty insurance industry will expand from $55.1 billion to $70.8 billion by 2014.”In terms of the key drivers that underpin our forecasts, we are looking for non-life penetration to remain constant at 3.5% of GDP through the forecast period,” BMI stated in a […]
By Canadian Underwriter | September 2, 2010
An Ontario arbitrator found a man seriously injured in an auto accident to be ‘employed’ for the purpose of calculating income replacement benefits, even though his contract was oral and he did not work long enough at his new job to establish a demonstrated history of payments and/or payroll deductions.Dennis Ferguson, who owned his own […]
2 min read
Can-Sure Underwriting Ltd. has acquired Chutter Underwriting Services’ property division and its entire book of business.Bruce MacKinnon and John Woodcock, both partners at Chutter, will become members of Can-Sure’s senior management team.As of Sept. 1, 2010, all policy transactions are being processed through Can-Sure. All policies will be transitioned into Can-Sure’s policy management system upon […]
ICBC will reduce its basic insurance rates by 2.4%, beginning Nov. 1, 2010.The public insurer had applied to the British Columbia Utilities Commission (BCUC) for a 1.9% reduction.BCUC noted ICBC’s operating expenses were, on average, 2.8% lower than forecasted over the past few years. Fewer crashes in B.C. have led to a drop in the […]
Ontario’s auto insurance reforms took effect on Sept. 1, and government and insurance industry groups are encouraging consumers to educate themselves about the new regime.The reforms change the standard, mandatory auto insurance benefits package so that medical, rehabilitation and attendant care benefits for non-catastrophic injuries are now reduced from $100,000 to $50,000. Consumers have the […]
By Canadian Underwriter | September 1, 2010
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