Risk
A.M. Best Co. has placed the financial strength rating (FSR) of A- (Excellent) of Lincoln General Insurance Company and Kingsway Reinsurance Corporation (KRC), a subsidiary of Kingsway Financial Services Inc. (KFSI), under review with negative implications.The under review status of KRC is based upon A.M. Bests opinion that if KRC is further utilized to support […]
By Canadian Underwriter | June 7, 2007
1 min read
Claims
Canadian wholesale broker Ian Stuart-Smith has pled guilty to a felony wire fraud charge and now faces a maximum of 20 years in jail and a maximum fine of US$250,000 or twice the gross gain or loss resulting from the crime. Stuart-Smith (who has gone by many aliases according to New York authorities, including Ian […]
2 min read
The curtain has lifted on FOCUS Entertainment Insurance Brokers Inc., British Columbias first locally owned and operated insurance brokerage firm exclusively servicing the film industry. Launched by business partners David Hamilton, a senior film insurance broker in Western Canada, and his long-time associate Bob Adams, FOCUS Entertainments primary goal is to service the Vancouver, Calgary […]
There is a steady rise in insurance payrolls in the United States, according to an A.M. Best report, and there is some debate as to whether the expanding populations property and casualty claims in the wake of 2004-05 hurricanes might be related to the industrys employment increase.A slew of hard storm seasons, new market expansions […]
By Canadian Underwriter | June 6, 2007
Industry
Insurers need to decide whether to attack the certification of a class action lawsuit up front, or wait until after certification to respond to the claim, Roderick S.W. Winsor, a partner at Blaney McMurtry LLP, told delegates at the Insurance Law Update presentation on June 6. The Number 1 goal is to defeat a certification […]
Volunteers at more than 70 CARSTAR collision repair centres across the country are getting ready to soap it up as part of an ongoing campaign to help the thousands of young Canadians battling cystic fibrosis (CF). The fourth annual CARSTAR Soaps it Up National Car Wash Day takes place on June 16, 2007. Last year, […]
The Loyalist Insurance Group Limited (TSX: LOY) has announced that the trading in common shares of the company on the TSX Venture Exchange is scheduled to resume on June 7, 2007. Cease trade orders issued by the Ontario, Alberta and British Columbia securities commissions against Loyalist were revoked, effective May 25, 2007. Loyalist is a […]
AIR Worldwide has updated its United States hurricane model to include an enhanced methodology for estimating business interruption (BI) losses.In the aftermath of the 2004 and 2005 hurricane seasons, which devastated wide swaths of the Gulf Coast and put countless businesses on hold for months or longer, AIR undertook an intensive research and development effort […]
By Canadian Underwriter | June 5, 2007
Canadian executives concerned with supply chain management face a number of risks including environmental regulations and pressures, according to PricewaterhouseCoopers (PwC) LLP in Canada.Lino Casalino, partner, Canadian supply chain and logistics leader with PwC, points to several key trends influencing current and future supply chains over the next five years one of which includes the […]
A 62-year-old orthopedic surgeon in Windsor, Ontario has been awarded Cdn$844,450 in damages including Cdn$714,000 based on a presumed future loss of income between the ages of 65 and 70 for injuries he sustained after being thrown from his bicycle when he ran over a raised catch basin.Dr. Robert Yovanovich, 56 at the time of […]
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