Industry
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 […]
By Canadian Underwriter | May 14, 2009
1 min read
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
2 min read
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 […]
Claims
ING Canada Inc reported a net loss of Cdn$36.3 million in 2009 Q1, compared to a net gain of Cdn$23 million in 2008 Q1.The company cited home insurance results as a major contributor to the loss.”Our operating performance continued to be healthy during the quarter driven by good underwriting results,” said Charles Brindamour, president and […]
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 severity of the 2009 catastrophe season is a wild card in determining the speed at which the commercial insurance market will harden this year, says a recent briefing by Advisen, ‘The Insurance Market in 2009: A Market Poised for Change.’Commercial rates “are likely to bottom out by the end of the year,” Advisen says, […]
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 […]
Winmar Franchise Corp. has opened a new franchise in Medicine Hat, Alberta located at 1275 Brier Park Way NW.Brian and Sharon Schwieger have owned and operated Desert Restoraton Services since 2007, servicing Medicine Hat, Brooks and all surrounding areas. Brian is IICRC certified, a building operator “A” certified and is WHMIS certified. Sharon CAIB, CIP, […]
The NDP in Nova Scotia has dragged auto insurance into the province’s current political campaign, promising to scrap the existing Cdn$2,500 cap on insurance payments for minor auto injuries and replacing it with some form of deduction instead.Nova Scotia NDP leader Darrell Dexter told metronews.ca (Halifax) the cap on minor injuries is too broad and […]
By Canadian Underwriter | May 11, 2009
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