Industry
Mike Lowthlan has joined Kernaghan Adjusters Toronto office as an executive adjuster. Mikes illustrious career has spanned over three decades, during which time he has earned a well-deserved reputation as a respected executive adjuster in the Ontario market, Patti Kernaghan, president and CEO, said in a release. Mike is well-known for his excellent judgment and […]
By Canadian Underwriter | July 6, 2007
1 min read
Royal & SunAlliance Canada (R&SA) has announced three executive team appointments, including: Shawn Desantis as senior vice president, R&SA; Steve Knoch as vice president, underwriting operations and information services; and Mike Jakeman, CEO for R&SA Greater China.DeSantis, in his newly created role, will have overall responsibility for commercial and personal lines of business, including accountability […]
Risk
Canadian champion speed demon Paul Tracy has teamed up with the Insurance Bureau of Canada (IBC) to deliver the message that 220 km-h speeds are suitable for a racetrack, not public roads.If you want to prove yourself behind the wheel, save it for the racetrack, Tracy said in an IBC release. Tracy has joined the […]
By Canadian Underwriter | July 5, 2007
Julie Dickson has been appointed to the role of superintendent of financial institutions. The Minister of Finance Jim Flaherty announced Dicksons seven-year term, which is effective immediately. I am pleased Ms. Dickson has agreed to serve in this role to promote the stability and soundness of Canadas financial system, in the best interest of all […]
Auto
The redesigned Toyota Tundra was the only pickup truck rated with a good seat/head restraint crash protection by the Insurance Institute for Highway Safety (IIHS).The tests were performed using the Insurance Corporation of British Columbia (ICBC)-developed Head Restraint Measuring Device, says an ICBC release.2007 models of pickup trucks, SUVs and minivan seats were measured for […]
A.M. Best Co. has affirmed the financial strength rating of A (excellent) of Royal Bank of Canada Insurance Company Ltd. (RBCI). RBCI benefits from a very secure equity capital base, a broad geographical spread of risk, which is concomitant with a diverse product mix and ample liquidity, enhanced by the high quality of a prudently […]
2 min read
The market share of Albertas risk-sharing pools is high by North American standards, standing at at 11.5% on a written exposure count basis and 18.5% on a written premium volume basis, according to Facility Association in its submission to the Alberta Automobile Insurance Rate Board (AAIRB). That puts the market share for Albertas risk-sharing pool […]
By Canadian Underwriter | July 4, 2007
A.M. Best Co. has affirmed the financial strength rating of A+ of the ING Canada Group, but noted: ING Canada will be challenged to maintain current profitability levels due to pricing pressure from competitors for commercial lines products and the impact of regulated automobile business. The ratings agency said capitalization is strongly supported by the […]
The territorial limitation contained in an automobile insurance policy and in the Insurance Act restricts coverage provided in the underinsured motorist endorsement, the Ontario Court of Appeal ruled on July 3.In Pilot Insurance Company v. Sutherland, the Appeal Court ruled the territorial restriction in a policy applied to the underinsured motorist endorsement. The decision effectively […]
Tesfaye Fekade has been appointed to the position of vice president, operations of MSA Research Inc.In a press release, Joel Baker, MSA president and CEO, commented that Fekade is an extremely valued addition to the MSA team.His deep technical knowledge coupled with his prior professional experience enable us to substantially ramp up service delivery, customer-support […]
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