Risk
Kernaghan Adjusters has opened two new and strategically located offices in southern Ontario. “This bold move,” said Patti Kernaghan, president & CEO of Kernaghan Adjusters, says the move is largely due to the appointment of Derek Francis as the manager of the Ottawa Branch and Brain Nauss who joined Kernaghan in Feb. 2006 as the […]
By Canadian Underwriter | July 7, 2006
2 min read
Industry
Whitehill Technologies, Inc., based in Moncton, NB, has begun shipping the latest version of IStream Publisher, which is part of the InSystems product line that focuses on “speed-to-market” for the insurance industry.”The software gives insurers complete control over document production and fulfillment,” Whitehill says. “It includes pre-defined services for retrieval, assembly, rendering, delivery and storage, […]
By Canadian Underwriter | July 6, 2006
1 min read
Bateman Chapman, Canada has acquired Toronto-based MGI Loss Adjusters Inc. “MGI brings to Bateman Chapman a group of experienced loss adjusters specializing in the areas of commercial/industrial claims including major mining, course of construction, liability, energy and utility losses in Canada and the U.S.,” Bateman Chapman announced in a public statement. “This expansion places Bateman […]
Co-operators General Insurance is among a handful of Guelph-based firms appearing in the Globe and Mail’s Report on Business magazine annual ranking by dollar profit. The insurance firm ranked 111 for the 2005 years profit of just over CD$132 million. This position represents a 5% drop from last years ranking of 104. The Co-operators slight […]
A KPMG study of U.S. corporate behavior in the wake of strong corporate governance legislation like Sarbanes-Oxley will likely have many risk managers and D&O insurers shaking their heads According to the KPMG Integrity Survey 2005-06, 74% of the more than 4,000 U.S. employees surveyed reported they had observed misconduct in the prior 12-month period.Half […]
By Canadian Underwriter | July 5, 2006
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Thirty-one British Columbia cities, districts, and municipalities will receive ICBC grants in place of real property and business taxes totaling CD$4.4 million this year, ICBC has announced.As a provincial Crown corporation, ICBC is not required to pay business and property taxes. Instead, communities receive annual grants that are equal to the taxes that would be […]
ING Group has signed into a US$1.02 billion (800 million), five-year outsourcing deal, which will cover the installation and servicing of office equipment.This deal is part of ING’s broad strategy to cut costs and represents the Company’s most recent outsourcing agreement. ING has already signed two other outsourcing agreements this year. The other agreements include: […]
In response to reinsurer SCOR S.A.’s plan to acquire reinsurer Revios Rckversicherung AG and its subsidiaries, Standard & Poor’s Ratings Services has affirmed SCOR’s ‘A-‘ long-term counterparty credit and insurer financial strength ratings.The deal between Paris-based SCOR and German life reinsurer Revios is valued at US$774 million (605 million). S&P’s says its outlook on all […]
Aon Corp. (NYSE: AOC) has reached a definitive agreement to sell Aon Warranty Group (AWG) and its worldwide operations to Onex Partners. Among the AWG businesses to be sold to Onex, an affiliate of Toronto-based Onex Corp., is Virginia Surety Company. The acquisition is subject to conditions including the receipt of required regulatory approvals, and […]
By Canadian Underwriter | July 4, 2006
CARSTAR Automotive Canada has signed a national agreement to utilize the claims portal, SMART Insurance Technology managed by CGI Insurance Business Services. CARSTAR’s 114 nationwide locations will now begin to receive assignments from SMART users. The SMART portal automates and streamlines the communication process between claim adjusters and other participants on a claim driving quality […]
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