Industry
Private companies in Canada and the United States are facing similar trends in litigation based on legal actions launched by customers, shareholders, employees and business partners, a Chubb Insurance Company of Canada survey has found.”The survey findings were surprising, as generally Canadians are thought to be far less litigious and therefore Canadian companies are seen […]
By Canadian Underwriter | September 16, 2008
2 min read
E2Value Inc. has inked an agreement with Compu-Quote Inc. to deploy and provide access to the eValueMCV cost engine and methodology.Beginning in September 2008, Compu-Quote will distribute the ezITV insurance to value application to insurance brokers across Canada, a Compu-Quote release says.The ezITV is a desktop tool integrated with Compu-Quote’s PropertyRater application that will access […]
1 min read
Removing a de facto ban on allowing cross-pillar mergers between banks and insurance companies is “not a priority” for the Conservative Party of Canada.The Liberal Party of Canada says it would analyze the possibility of such mergers on an individual basis, keeping in mind the principles of international competition and marketplace competition.The New Democratic Party […]
Reno Daigle was inaugurated as president of the Canadian Independent Adjusters’ Association this past Saturday at Dalvay By the Sea in Prince Edward Island. “It is with pleasure that I pass to you the gong of office,” Fred Plant, immediate past president, said as he handed over the presidential reins. “Wear it with pride I […]
By Canadian Underwriter | September 15, 2008
American International Group Inc. (AIG)’s stock took a serious hit following disclosure that American investment banks Lehman Brothers Holdings Inc. had declared bankruptcy and Merrill Lynch was sold.Shares in AIG fell 31% on Sept. 12, and then plummeted more than 60% on the morning of Sept. 15, as investors grew concerned that the firm lacked […]
Claims
Hurricane Ike has caused insured losses from both onshore and offshore damage of between US$6 billion and US$16 billion, catastrophe modellers estimate.The storm made landfall on Sept. 13, hitting Galveston Island, Texas as a strong Category 2 storm.Ike featured hurricane-force winds stretching up to 250 miles wide and maximum sustained winds at landfall of 110 […]
Jim Haskins has been appointed Aviva Canada Inc.’s executive vice president of claims and procurement, effective Sept. 22.Haskins “possesses strong strategic and leadership skills, customer focus and operations management experience,” Aviva noted in a release. “He joins Aviva Canada after 17 years in the property and casualty business of two major U.S. insurance companies.” Most […]
Mark Yakabuski has resigned as president and CEO of Insurance Bureau of Canada (IBC), effective immediately. “Having established a strong strategic course for the organization as president and CEO, he is leaving after 15 years of service to IBC in order to pursue new challenges,” IBC said in a public statement.Yakabuski became president and CEO […]
By Canadian Underwriter | September 12, 2008
The Safety Group offices in Ontario and Alberta have merged with Jones DesLauriers Insurance Management Inc. (JDIMI), creating what JDIMI calls “Canada’s first mega-trucking insurance brokerage the largest privately-held trucking insurance firm in the nation.” Jones DesLauriers Insurance Management Inc. (JDIMI) is among the largest privately-held insurance brokerages in Canada. The Safety Group (Safety) is […]
Insurance Corporation of British Columbia (ICBC)’s policies relating to optional auto insurance do not contravene the Competition Act, a federal Competition Bureau investigation has concluded.The Bureau initiated its inquiry after receiving a complaint alleging that ICBC’s policies were anti-competitive and had prevented and substantially lessened competition in the optional auto insurance market in British Columbia, […]
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