Industry
TIC president Brenda Rose is writing a story with themes appealing to commercial brokers - community involvement, successful lobbying and business continuity
October 31, 2006
6 min read
Claims
Manitoba Public Insurance (MPI) is helping trick-or-treaters stay visible by distributing 120,000 light-up devices to schools across the province.The safety flashers/whistles can be hung around the necks of children, or easily attached to jackets or backpacks, so children can “light up the night” any time they step outside after dark.A total of 740 Manitoba schools […]
By Canadian Underwriter | October 31, 2006
1 min read
The SCOR group has received the approval of the China Insurance Regulatory Commission (CIRC) for a reinsurance licence in China.The license will enable SCOR to open a branch in Beijing for the purpose of conducting property & casualty reinsurance transactions.The SCOR group opened a representative office in China in 2000 and submitted a request for […]
2 min read
Risk
Western Financial Group has acquired a 25% initial interest in Hayhurst Elias Dudek Inc. (HED), the largest independent insurance broker/administrator in Manitoba.HED is one of the largest independently owned insurance brokers in Canada, with approximately 190 employees nationwide. HED’s head office and the majority of employees are located in Winnipeg, with additional offices in Toronto, […]
Manulife Financial is partnering with Dalhousie Medical School to expand Dalhousie’s unique, award-winning health and science program, MegaSearch, to every Grade 5 classroom in Prince Edward Island.MegaSearch 2006-07, a curriculum supplement, highlights research in the areas of asthma, cancer, heart health, HIV/AIDS, mental health, and vaccines. All topics align with curriculum goals outlined by the […]
Co-operators General Insurance Company reported a 2006 Q3 consolidated, after-tax net income of CD$18 million, compared to the CD$24 million profit for the same period in 2005.”Continued excellent investment returns, particularly in the resource sector, helped offset greater-than-expected automobile claims severity during the third quarter [of 2006],” said Kathy Bardswick, president and CEO of The […]
By Canadian Underwriter | October 30, 2006
Canadian insurers must engage in an ongoing dialogue with industry regulators to avoid a “death by best practices,” according to a panelist speaking at the Insurance Bureau of Canada’s sixth annual regulatory affairs symposium in Toronto.Paul Belanger, a partner at Blake Cassels & Graydon LLP, said risk-based regulation is to be applauded when best practices […]
The Canadian Council of Insurance Regulators (CCIR) has approved a work plan to review the implementation of three disclosure principles recommended by its Industry Practices Review Committee priority of the client’s interest, disclosure of potential conflicts of interest and product suitability across Canada.”Various industry associations have suggested that the principles be implemented through voluntary guidelines,” […]
During the past 10 years, the Canadian automobile insurance industry’s underwriting results have changed dramatically, as reflected by the significant variations in the direct loss ratio according to a special report by A.M. Best Co. A.M. Best predicts the direct loss ratio will level off in 2006.”A.M. Best anticipates that the direct loss ratio for […]
Hub International Limited (NYSE: HBG) (TSX: HBG) has announced strong improvement in both revenue and key expense ratios for the three months and nine months ended Sept. 30, 2006.Revenue increased 29%, to US$126.5 million in 2006 Q3, compared to the 2005 third-quarter revenue of US$98.3 million.Hub’s 29% increase in revenue for the quarter included strong […]
By Canadian Underwriter | October 27, 2006
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