Industry
Riverfront Medical Services marked their 20th Anniversary on July 9 with an evening celebration at Marben Restaurant in Toronto. Dr. Sheldon Levy, president and medical director, along with Anna Tsaggarelis, executive director of business development and operations, welcomed more than 170 guests from the insurance industry to join in the celebrations. See all photos from […]
August 31, 2009
1 min read
An insurance company cannot void an auto insurance policy because it is not informed of a “material change in the risk,” unless the company takes steps to ascertain this material change itself — including obtaining the driving record of a high-risk driver added to an auto policy. Ontario Superior Court Justice Peter Howden came to […]
By Canadian Underwriter | August 31, 2009
2 min read
Markel International has reached an agreement to acquire Elliott Special Risks (ESR). Markel International is a specialty property and casualty insurer based in London, England. ESR is based in Canada, and provides insurance underwriting and administrative services on behalf of other insurers. The acquisition, which values ESR at Cdn$75 million, is expected to close on […]
Gains in underwriting and a return of calm to the global financial markets have helped some reinsurers regain half or more of the capital they lost as a result of the 2008 financial crisis and windstorms, according to Guy Carpenter.According to 1H2009 Reinsurer Financial Update: Capital Returns, the Guy Carpenter Global Reinsurance Composite posted an […]
By Canadian Underwriter | August 28, 2009
The Smart Fortwo has the strongest roof and the Chevrolet Aveo the weakest among the 2009 micro and minicars recently tested by the Insurance Institute for Highway Safety (IIHS).The Smart earns the highest rating of good compared with acceptable for the Honda Fit, Hyundai Accent, Mini Cooper and Toyota Yaris. The Aveo is rated marginal, […]
Friends and colleagues of the late Ciaran Shannon will hold a tribute evening on Oct. 23, 2009 to raise funds for the education of his children.Shannon came to Canada in 2001 and joined Marsh Canada as a general insurance broker. He quickly rose within the sales ranks to become the Number One producer, a tribute […]
By Canadian Underwriter | August 27, 2009
In its draft guideline for stress testing, the Office of the Superintendent of Financial Institutions suggests that insurers need to identify situations when the interrelationship of risk factors breaks down.For a property and casualty insurer, changing economic conditions will not only influence investment income and company expenses, but can also, particularly in times of inflation, […]
SGI’s rate request for the Saskatchewan Auto Fund, which includes rate rebalancing, is to be effective Nov. 1, 2009, according to the Saskatchewan Rate Review Panel’s Report to the Minister of the Crown Investment Corporation of Saskatchewan. SGI had applied for a general average rate increase of 4.2% for the Saskatchewan Auto Fund, the report […]
By Canadian Underwriter | August 26, 2009
Claims
A Financial Services Commission of Ontario (FSCO) arbitrator has denied an insured’s claim for caregiver benefits and housekeeping/home maintenance benefits following a vehicle collision.Mohammad Asghar was injured in a motor vehicle accident on Aug. 2, 2006. He applied for and received statutory accident benefits from State Farm Mutual Automobile Insurance Company. Asghar’s dispute with State […]
The Insurance Brokers Association of Ontario and SCM Risk Management Services have partnered to develop and introduce an insurance-to-value (ITV) software solution for Ontario insurance brokers and their clients.Independent Brokers Resources Inc. (IBRI), a wholly-owned subsidiary of IBAO has committed $150,000 toward the research and development of the ITV indexing tool. The development of a […]
By Canadian Underwriter | August 25, 2009
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