Claims
In response to recent bombings in London, security officials warn that Canada’s transit system may also be a target for similar attacks.Public Safety Minister Anne McLellan reports that security has been tightened for all transportation systems across Canada, specifically in Toronto and Montreal. Systems affected include Via Rail, CN and CP, local subways and mass […]
By Canadian Underwriter | July 7, 2005
1 min read
Montreal highways were recently flooded by a heavy flash flood. According to Const. Chantal Mackels, with the Quebec provincial police, no one was injured. However, she adds some drivers were caught in flood waters and had to be rescued by firefighters and police. Areas on the Metropolitan and Decarie expressways as well as Autoroute 13 […]
Cambridge a global outsourcing firm specializing in claims and loss management and the McLarens Grouop a Canadian-based claims management firm recently formed an alliance to expand their North American presence so that firms doing business in both Canada and the U.S. will now be able to reduce potential claims losses through a single entity.The alliance […]
2 min read
Industry
In May, Canadian building permits saw a decrease in value of 2.1%, according to Staistics Canada, which recently announced that this decline directly reflects a noticeable drop in non-residential permits. Permit value was anticipated to fall a mere 0.5%, similar to the 0.4% decrease to $3.1 billion decrease in value that was seen in the […]
Crash data recorders on trains are being improved to capture additional information and better safeguard locomotive event data for use in accident investigations under a recently issued Federal Railroad Administration (FRA) ruling.Under the ruling event recorders will be hardened to prevent the loss of data from exposure to fire, impact shock, fluid immersion and other […]
By Canadian Underwriter | July 6, 2005
Risk
A new website slated to quickly and effectively pair up insurance industry job seekers and employers was recently released by Canadian Underwriter Magazine. i-hire.ca is, according to Canadian Underwriter’s senior publisher Steve Wilson, "Canada’s Insurance Career Destination," offering the insurance industry an exclusive careers website providing a common meeting place for all areas of the […]
3 min read
Commercial
Elliott Special Risks recently entered into a partnership with Newport Private Yield LP.Through this partnership, Newport is acquiring an ownership interest in the company, however senior management will continue to own a significant interest and maintain operational control and responsibility for the direction of the business. In addition, Newport an asset management company engaged in […]
By Canadian Underwriter | July 5, 2005
A mechanical fault in a 7,000-tonne BC-based ferry, recently caused the vessel to loose power and subsequently crush approximately 22 boats in the Horseshoe Bay ferry terminal in West Vancouver, according to Transportation Safety Board investigators. BC Ferries are now initiating meetings with the owners of the damaged boats regarding their demands for fair compensation.Some […]
Tropical storm Cindy the third named storm of the Atlantic hurricane season recently formed and is set to hit the coast of Louisiana coast. The National Hurricane Center in Miami expects Cindy may strengthen before hitting Louisiana, well exceeding it’s early readings of 72 kph (42 mph). Cindy, however, may not make hurricane status.In addition, […]
In June, Canadian sales of cars and light trucks jumped 7.3%.Sales advanced from the previous year’s figure of 150,432 to 161,413, according to DesRosiers Automotive Consultants Inc. Sales for the first and second quarter of 2005 combined, showed an increase of 2.2% to 808,510 vehicles. According to Statistics Canada, new cars and light trucks represented […]
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