Industry
The St. Lawrence Seaway Management Corporation (SLSMC) is reporting that an oil spill in the St. Lawrence Seaway following the grounding of the Canada Steamship Lines (CSL) bulker Richelieu has been contained by a series of booms, although the cleanup is still “progressing.”The Richelieu was carrying a shipment of wheat at approximately 7:30 p.m. on […]
By Canadian Underwriter | July 15, 2010
1 min read
Reform-influenced auto insurance rates filed with Ontario’s regulator in 2010 Q2 show an average rate decrease of 1.03%, when weighted by market share.The 2010 Q2 rates take into account the province’s auto insurance reforms and will become effective when the reforms are implemented on Sept. 1, 2010.The rate changes approved in 2004, 2005, 2006, 2007, […]
Manitoba Public Insurance (MPI) reported a net income of $102.9 million for 2010 Q1, marking an increase over the net income of $17.3 million reported in 2009 Q1.Claims costs for the first fiscal quarter decreased by $85.2 million (to $105.4 million) when compared with the same period of 2009. MPI attributes the decrease to a […]
The vast majority of B.C. drivers report they no longer drive while using hand-held devices, but these same drivers report seeing other drivers using hand-held devices and feel the likelihood of being caught for doing so is low, according to a survey by the British Columbia Automobile Association (BCAA).B.C. implemented its distracted driving law on […]
Claims
It remains too early to tell whether the auto and home insurance claims generated by Calgary’s hailstorm on July 12, 2010 will compare to Canada’s biggest hailstorm claims event in 1991.The 1991 event, also in Calgary, was the country’s worst-recorded hailstorm event in terms of insurance claims. The 30-minute storm almost two decades ago resulted […]
By Canadian Underwriter | July 14, 2010
The Co-operators today announced $253,050 in donations to Canadian charities selected by Co-operators staff members, directors and delegates. The contributions are part of the organization’s Directed Donations program, in which staff members each direct $75 of corporate funds and directors and delegates steer $125 to the charitable organization of their choice. In total, 3,164 staff […]
Manitoba Public Insurance (MPI) is now posting on its Web site details about sanctions imposed by the Registrar of Motor Vehicles.Recent amendments to The Drivers and Vehicle Act give MPI the authority to publish information about sanctions against permit holders who fail to comply with the law and accepted business practices. Permit holders include auto […]
Managing product or service quality is the top outsourcing risk to organizations, yet less than half of respondents to an ESI International survey report having a strong risk management culture.ESI International surveyed 615 contractor managers, subcontractor buyers, project managers, senior executives and “key decision makers in outsourcing” from around the world (including Canada).Nineteen per cent […]
Canadian mergers and acquisitions (M&A) activity is down 30% over the first half of 2010, compared to the same period last year, according to a mergermarket Canada survey. Overall, Canadian M&A activity totalled US$29.6 billion, down from the US$42.5 billion in the first half of 2009, and the lowest recorded half-year total since 2005.Mega-deals of […]
By Canadian Underwriter | July 13, 2010
Major retail chains are more highly involved in the distribution of insurance in South Africa and Latin America than they are in North America, according to a global survey conducted by Research and Markets.The study, Global Retailer Insurance: Affinity Schemes in Supermarkets and other Stores, looks at the activities of more than 100 major retailing […]
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