Claims
Insurance claims have exceeded Cdn$30 million after a fierce Nov. 15 storm that caused a boil-water advisory in the Vancouver area, according to IBC regional officials quoted in the Victoria Times-Colonist. Lindsay Olson, B.C.-Yukon vice-president of IBC, said insurance claims for storm damage had passed the $20-million mark as of Nov. 22. “Right now we’re […]
December 31, 2006
1 min read
Risk
Odyssey Re staff and guests congregated at the Hockey Hall of Fame in Toronto on Oct. 26. to meet with former Toronto Maple Leafs captain Darryl Sittler. After hearing Sittler speak, guests went home with autographed pictures of themselves standing next to Sittler and the Stanley Cup. *** The Women In Insurance Cancer Crusade (WICC) […]
6 min read
The government of New Brunswick and the province’s insurance industry hammered out an agreement that will see premiums drop an average of 13.5% by Mar. 1, 2007. As promised in Premier Shawn Graham’s Charter for Change, the plan involves eliminating gender and geographic areas as rating criteria. “We will implement a process that will allow […]
2 min read
Dale-Parizeau LM and Morris & Mackenzie Inc. have announ- ced their intention to become Dale-Parizeau Morris Mackenzie Inc. The merged entity would become Quebec’s largest independent and privately owned insurance broker. The company is expected to write more than Cdn$200 million of premium, with 400 staff operating out of five offices throughout Quebec, and one […]
Industry
Costs of liability coverage have been dropping, although businesses on average have maintained their level of coverage, according to a global study by Marsh Inc. The study surveyed 7,196 companies – 562 of which were Canadian – in 53 countries. Findings are based on insurance-purchasing decisions made during the 12-month period ending Mar. 31, 2006. […]
HKMB International Insurance Brokers, a privately held commercial insurance broker, has entered into an agreement to acquire the Toronto and Vancouver operations of Morris & Mackenzie Inc. HKMB hopes to integrate both offices into its own during 2007 Q1. “The acquisition of Morris & Mackenzie’s Toronto office builds on our well-established foundation with that market,” […]
Hurricane activity during the 2006 Atlantic hurricane was weaker than expected because of the rapid development of El Nio, according to scientists at the U.S. National Oceanic and Atmospheric Administration (NOAA). The 2006 Atlantic hurricane season produced near-normal activity with a total of nine named storms – including five hurricanes, two of which became major […]
Canadian and Bermudian insurers are more likely than their U.S. or Asian/Pacific counterparts to deliver quarterly risk reports to their boards, according to a study by Tillinghast of Towers Perrin. The study is Tillinghast’s fourth biennial survey of risk and capital management practices among insurers worldwide. The 2006 study focuses on a number of issues […]
A return to stormy hurricane activity in 2007 will likely follow the below-average 2006 hurricane season, according to climate forecaster Tropical Storm Risk (TSR). TSR says a 76% likelihood exists that U.S. land-falling hurricane activity in 2007 will fall within the top one-third of history’s stormiest years. The study was led by the Benfield UCL […]
The Women in Insurance Cancer Crusade (WICC) Ontario chapter has launched a fundraiser with the aim to turn loose change into cancer research. The “Change for Change” initiative kicked-off January 1, 2007, and will run through March 31. The concept was borrowed from the British Columbia chapter of WICC, who introduced the initiative in 2005. […]
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