Claims
Just one month after the Ontario government introduced a tough new, anti-street-racing law, more than 1,000 motorists have been charged under the act, the Metro newspaper in Toronto has reported.The new law introduces harsh penalties such as license suspension or the potential impoundment of a vehicle for a week if motorists are caught traveling more […]
By Canadian Underwriter | November 5, 2007
2 min read
Industry
The Co-operators General Insurance Company reported profits of Cdn$30.3 million for 2007 Q3, compared to Cdn$18 million for 2006 Q3. The improvement was due to stronger underwriting performance, according to The Co-Operators. Gross written premium increased 4.1% to Cdn$571.9 million in 2007 Q3, compared to Cdn$549.3 million in 2006 Q3. The increase is primarily due […]
1 min read
Risk
ESIS Inc., a risk management services company of ACE USA, announced it will provide dedicated Canadian workers compensation oversight to its clients through its affiliate, ESIS Canada Inc. ESIS Canada Inc. will offer reporting services for all new claims to the appropriate provincial workers compensation Board (WCB), including assistance with the filing of all WCB […]
By Canadian Underwriter | November 2, 2007
Atlantic Canadians should brace themselves for Hurricane Noel, which is forecast to track across western Nova Scotia, cross the Gulf of St. Lawrence, and then move through Labrador, the Canadian Hurricane Centre warns. Hurricane Noel is on its way to becoming a powerful, post-tropical storm, but the Canadian Hurricane Centre warns it is expected to […]
The legal test for negligence which would absolve an outdoor equipment provider of liability in a personal injury case is not perfection but rather to design a product so as to eliminate any unreasonable risk of foreseeable injury, the Ontario Superior Court ruled in Enslev v. Challenges Unlimited Inc.And although an outdoor swing designer might […]
Fairfax Financial Holdings Ltd. has reported profits of Cdn$253.2 million for 2007 Q3, a dramatic increase from 2006s Q3 loss of Cdn$359.2 million. In the first nine months of 2007, net earnings increased to Cdn$532.2 million, compared to a reported profit of Cdn$68.4 million for the same period last year. Fairfax is the parent company […]
Johnson Inc. whose parent company, The Johnson Corporation, is an autonomous member of Royal & SunAlliance has acquired Kingston-based brokerage Thomson Jemmet Vogelzang (The Insurance Centre Inc.).Thomson Jemmet Vogelzang (The Insurance Centre Inc.) is the result of an amalgamation in 2001 of the two-largest Kingston and area insurance brokers, Thomson and Jemmett Insurance Ltd. and […]
By Canadian Underwriter | November 1, 2007
Commercial
A British Columbia driver training school has surrendered its licence after an Insurance Corporation of British Columbia (ICBC) and RCMP investigation uncovered an alleged scheme of fabricated commercial driver experience letters.According to an ICBC press release, Southwest Driving Academy provided fabricated letters to students who received their Class 1 commercial drivers licence. The investigation into […]
Markel Corporation, parent company of MINT Canadian Specialty, has reported a drop of US$14 million in its gross written premiums for 2007 Q3 over the same period of 2006.The company reported its gross written premium was US$162 million in 2007 Q3.For the nine months ending Sept. 30, 2007, gross written premiums were US$562 million, compared […]
Aon Corporation has announced a global restructuring plan with projected savings of US$240 million by 2010 that includes the elimination of 2,700 positions and the outsourcing of 1,100 positions.The announcement came on the heels of the companys 2007 Q3 results, which saw a 92% increase in profit, from US$106 million in 2006 Q3 to US$204 […]
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