Risk
McLarens Canada and Demers Zajac Vena Insurance Adjusters Inc. are pleased to announce the partnership of their respective firms effective September 14, 2007. Demers Zajac Vena Insurance Adjusters Inc. was founded in Montreal in 1987 and under the successful leadership of John Vena, president, has grown to be one of the premier commercial loss adjusting […]
By Canadian Underwriter | September 21, 2007
1 min read
Claims
The Terrorism Risk Insurance Revision and Extension Act (TRIREA) H.R. 2761 was passed on Wednesday afternoon by the U.S. House of Representatives with a vote of 312 to 110 and is strongly supported by the Risk and Insurance Management Society (RIMS), according to a release. RIMS is pleased that the bill, as passed by the […]
The Canadian insurance industry needs to strive for pricing consistency, Richard Ward, Lloyds CEO, told a crowd at the Risk and Insurance Management Societys conference in Halifax.Ward discussed contract certainty and claims management initiatives that Lloyds has taken to improve efficiency and service within the London market and urged Canadian insurers to follow suit. These […]
By Canadian Underwriter | September 20, 2007
2 min read
Industry
Canadian corporations need to be cognizant of the type of investigation costs covered in their Directors and Officers (D&O) liability policies, a report from Aons Canadian Financial Services Group warns. Companies need to consider whether, and to what extent, it wishes its D&O policy to cover investigative costs, wrote Brian Rosenbaum, Legal and Research Practices, […]
Elie, the tornado that ripped through parts of Manitoba on June 22, has been given a rating of F5 intensity, the highest on the Fujita tornado damage scale, the first officially documented in Canada according to Environment Canada meteorologists. Damage indicators are used to measure the strength of tornadoes, with an F5 tornado accounting for […]
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A total of 97 defendants are now allegedly involved in the conversion of vehicles related to 49 stolen vehicle claims, after four civil actions were filed by the ICBC against 95 Lower Mainland residents recently, according to a release. “ICBC has zero tolerance for fraud,” Steve Tripp, ICBC manager of Fraud Prevention and Investigation, said […]
Hub Ontario, a subsidiary of Hub International Limited, entered into a definitive agreement to acquire all of the stock of Totten Insurance Group Inc. (Totten), a Canadian specialty insurance wholesaler that develops niche products and provides solutions for unusual lines of business. Totten, together with Hub Ontario’s existing wholesale companies, will operate as a separate […]
By Canadian Underwriter | September 19, 2007
A prolonged soft market may lie ahead for the Canadian property and casualty insurance market, according to a special report by A.M. Best.There’s no room for complacency as Canadian property/casualty insurers enjoy another solid year, the ratings agency wrote in a press release announcing the availability of the Sept. 18, 2007 report. Profitable underwriting, growth […]
Canadian resident Ian Stuart Smith has been sentenced to more than eight years in prison for his part in a fraud scheme, in which insurance agents for various entities throughout the United States and Canada were induced to purchase millions of dollars of fraudulently issued commercial liability insurance policies.Smith received his 97-month sentence in New […]
Crawford & Company (Canada) Inc. raised more than Cdn$10,000 for the Women in Insurance Cancer Crusade (WICC) at its 13th annual Crawford Classic charity golf tournament held in Toronto on Sept.12, 2007. Golfing during unseasonably cold weather has become somewhat of a Crawford tradition, the company noted in a press release, but Crawford clients and […]
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