Industry
Carstar Automotive Canada Inc. is launching a new brand campaign focusing on driver distraction, which can lead to accidents. The idea to be conveyed is that when accidents happen, Carstar will be there to make them “unhappen.” At the same time, the goal is to have drivers to think twice before taking their eyes off […]
By Canadian Underwriter | January 8, 2010
1 min read
Claims
The global catastrophe bond market staged a recovery in 2009, according to Munich Re.The volume of new bonds issued in 2009 came to just under $3.5 billion, and overall the value of outstanding bonds rose marginally to just under $12 billion.Munich Re anticipates the volume of new cat bond issues in 2010 to be in […]
2 min read
Chubb Insurance has been named one of ‘Canada’s 50 Best Employers’ for the tenth year in a row by The Globe & Mail’s Report on Business. Companies are rated based on a survey that measures employee engagement and corporate management’s alignment with employee perceptions.Hewitt Associates conducts the annual study. Chubb’s ranking reflected a noteworthy increase […]
By Canadian Underwriter | January 7, 2010
Hub International Limited (Hub) has acquired Ogilvy, Gilbert, Norris & Hill d/b/a Ogilvy Hill Insurance (OHI), in addition to the commercial lines and life and health books of business of Wescom Insurance Services LLC (Wescom). OHI is a Santa Barbara, California-based insurance brokerage firm, with revenues of approximately $7 million. Wescom is an Anaheim, California-based […]
Contrary to its initial expectations, Registered Insurance Brokers of Ontario (RIBO), the self-regulating body of Ontario’s insurance brokers, says the Part XIII amendments to the federal Insurance Companies Act (ICA) will not likely change the amount of “unlicensed” insurance written in Ontario.RIBO posted an online ‘news and updates’ item in December 2009 about the Part […]
Macro-economic inflationary pressures and the potential collapse of the carbon credit market are two emerging risks in 2010, according to Lloyd’s of London’s 360 Risk Insight.360 interviews Daniel Golding, a risk analyst at Lloyd’s insurer Chaucer, who warns of the possibility that the value of assets or income will decrease as inflation shrinks the purchasing […]
By Canadian Underwriter | January 6, 2010
A motion for summary judgement filed in 2009, but that will not be heard until 2010, is subject to the new Rules of Civil Procedure that came into effect as of Jan. 1, 2010, Ontario’s Superior Court of Justice has ruled in an endorsement.In Onex Corporation et al. v. American Home Assurance et al., Onex […]
Homeowners in Fredericton, New Brunswick will likely see an increase in their insurances rates as a result of the increasing number of flood claims reported, according to the CBC. “Recently, most insurance companies have seen an increase in the kind of claims they’re getting,” Bill Adams, vice president of the Insurance Bureau of Canada in […]
The 2010 Atlantic hurricane season will likely bring above average activity, predicts Colorado State University’s Department of Atmospheric Science.In their six- to 11-month, extended-range forecast, Philip J. Klotzbach and William M. Gray estimate a 64% chance of at least one major hurricane (Category 3, 4 or 5) hitting the entire U.S. coastline. The average for […]
New Brunswick, one of only two provinces (in addition to Alberta) to allow the use of handheld devices while driving, is considering a ban on such use, cbc.ca reports.New Brunswick Public Safety Minister John Foran told cbc.ca that while the government has in the past opted for public education about the dangers of distracted driving, […]
By Canadian Underwriter | January 5, 2010
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