Claims
An earthquake measuring 4.1 on the Richter scale sent tremors through the Sudbury region in northern Ontario, but failed to cause any damage.The epicentre of the quake was about five kilometres from the town of Lively, west of Sudbury, the CBC reported. Tim Beadman, director of emergency management for the City of Sudbury, says the […]
By Canadian Underwriter | November 29, 2006
2 min read
Insurers are responsible for paying out flood claims filed as a result of Hurricane Katrina, a Federal Court Judge in New Orleans has ruled.Justice Stanwood R. Duval, Jr. overturned an initial court ruling that insurers are exempt from flood claims due to policy exclusions. “There is coverage as a result of the ambiguity in the […]
1 min read
Risk
Ship owners accustomed to double-digit increases in their protection and indemnity premiums over the past five years may be disappointed if they are expecting an improvement in their 2007 renewal terms, a Lloyd’s broker says.HSBC Insurance Brokers, a P&I specialist, says an optimistic shipping industry may be hoping for lower premiums based on the strength […]
Industry
The Bank Act review continues to go the brokers’ way.Finance Minister Jim Flaherty recently introduced legislative proposals to Parliament that appear to close the issue of banks retailing insurance for yet another five years.IBAC praised the government for not giving banks the power to retail and/or provide information about insurance products from their local branches. […]
Even though the reinsurance industry suffered major losses as a result of natural disasters in 2005, it succeeded in posting profits nevertheless, according to a new report published by the International Association of Insurance Supervisors (IAIS). “The reinsurance sector has shown considerable resilience in the face of two years of higher-than-expected natural catastrophes,” said Julian […]
By Canadian Underwriter | November 28, 2006
The high price of oil in recent years has led to rising investment in the energy sector, providing opportunities for risk underwriting, according to a Swiss Re advisory panel.”Those insurers and reinsurers with specialist skills across many disciplines, as well as superior financial strength, are best positioned to take advantage of the accelerating investment being […]
Home
Integro (Canada) Ltd. has appointed Brian Cameron as principal and executive broker for the Toronto office. Cameron joins Integro from Marsh Canada, where he served as a senior vice president. He has 35 years of experience as a property and casualty broker, with particular strengths in construction, mining, real estate and heavy manufacturing. “Having represented […]
The Risk and Insurance Management Society, Inc. (RIMS) has launched a new Risk Maturity Model for Enterprise Risk Management (ERM), an online resource that provides guidelines and best practices for developing and maintaining a comprehensive risk management program. The Risk Maturity Model uses standardized criteria by which organizations can evaluate and improve their approach to […]
Auto
The TD Meloche Monnex Group’s direct marketing campaigns scooped up more than 10 awards at three events honouring best creative and outstanding results. The direct marketing team’s efforts were first recognized at the ECHO Awards, held in San Francisco, where the Lucky Day campaign for the TD Insurance Home and Auto brand won a silver […]
By Canadian Underwriter | November 27, 2006
Rugby players around the world are rallying to raise funds for the 21-year-old paralyzed Canadian player, Sean Corner, reports the Hamilton Spectator.Corner studied insurance at Mohawk College in Hamilton and started work at Economical Insurance in May, when he was injured during a rugby match in September that left him paralyzed from the waist down.The […]
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