Claims
Integro Insurance Brokers, an international insurance broker and risk management firm, has appointed managing principals Mark Rankin and John Haas to the firm’s partnership group in Canada.Rankin is client development sales leader for the Toronto and Vancouver offices. He has 23 years of experience in property and casualty insurance, with an emphasis on international placements […]
By Canadian Underwriter | March 24, 2008
1 min read
Industry
Ninety per cent of 62 property and casualty claims officers surveyed by Towers Perrin late last year said increased competition, consolidation and convergence are among the leading challenges facing their industry in 2008.Survey respondents represented property and casualty insurance companies of varying types and sizes (and encompassing both personal and commercial lines): 37% were from […]
2 min read
Desjardins General Insurance (DGI) is now offering direct home and auto insurance in Ontario. “We’ve been planning and researching our launch into the Ontario mass market for some time,” Jean-Francois Chalifoux, general manager and senior executive vice-president at DGI said in a company release. “We believe there is a significant opportunity for a true direct […]
By Canadian Underwriter | March 20, 2008
The northeastern seaboard of North America is highly vulnerable to “northern hurricanes,” a rare form of storm that occurs much quicker than its Gulf of Mexico cousins, reported A.M. Best.These storms tend to be two to three times faster than hurricanes that hit the Gulf of Mexico, leading to less evacuation time and tend to […]
BMO Bank of Montreal and Farm Mutual Reinsurance Plan Inc. (FMRP) have launched a joint financing program designed to assist with the perpetuation of independent insurance brokerages. The Insurance Brokers Association of Ontario (IBAO), which initiated the partnership, issued a press release applauding the move.”There will be increased demand for buyout financing as more and […]
Ninety-eight vehicles from a Burnaby-based research and training facility of the Insurance Corporation of British Columbia (ICBC) were sold without proper designation and disclosure to buyers, an internal investigation has confirmed.ICBC’s own investigation revealed the public insurer lacked clear and specific policies and procedures to govern the designation, repair and sale of vehicles from its […]
The Regroupement des cabinets de courtage d’assurances du Qubec (RCCAQ), Quebec’s broker association, is lobbying the province’s financial services regulator, L’Autorite des marches financiers (AMF), to disallow the province’s car dealers from distributing “replacement warranties.”Brokers have identified the replacement warranty as an insurance product. As such, brokers are telling the AMF that car dealers are […]
By Canadian Underwriter | March 19, 2008
Investors consider transparency and risk management to be just as important as performance when deciding whether to retain their managers of alternative investments, according to a PricewaterhouseCoopers (PwC) report. A global survey of 226 institutional investors and alternative investment providers found the quality of compliance and risk management process (41% of investors) and transparency (41% […]
The net income of Canada’s property and casualty industry dropped to Cdn$4.008 billion in 2007, a 3.6% decrease over the Cdn$4.158 billion it recorded in 2006.MSA Research Inc. posted its year-end, aggregate financial data for 2007. In addition to the reduced profits, MSA figures also show increasing loss ratios and combined ratios.The 2007 net loss […]
Monique F. Leroux has been elected president and CEO of Desjardins Group. She is the first woman elected as president and CEO of Desjardins Group, and currently serves as senior executive vice president and CFO. Leroux will officially assume her new position following Desjardins Group’s annual general meeting on Mar. 29 in Quebec City. “I […]
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