Risk
Provisions recently passed to B.C.’s impaired driving legislation allow the Insurance Corporation of B.C. (ICBC) to refuse vehicle or trailer insurance to any driver who has an outstanding fine under the Liquor Control and Licensing Act. The new provision reads that even if a driver was not driving but had been fined for an alchohol […]
December 31, 2005
2 min read
Clearing their closets for a good cause, members of the insurance industry formed a clothing collective that donated over 1,800 lbs of gently used women’s business clothing and accessories to the first annual industry clothing drive to benefit Dress For Success Toronto. The Dress for Success not-for-profit organization helps financially disadvantaged women dress for interview […]
7 min read
The personal lines sector is expected to remain stable for 2006 despite the losses stemming from 2005’s aggressively violent hurricane season, according to a new report from Standard & Poor’s. However, the report titled, “2006 Outlook: Personal Lines Insurance Sector Remains Stable Despite Hurricane Losses,” also states that it is likely that the profitability of […]
1 min read
The KRG Insurance Group has appointed five new additions to its team. Paul Martin, CIP, president and chief operating officer, welcomes: Dave Potter, CRM, to the position of vice president of commercial lines and claims; Lyna Newman, FCIP, CRM to the position of vice president of human resources and operations; Christina Martin, CIP, CAIB, CRM […]
4 min read
William J. Sutton & Co., along with Gerber Life Insurance Co., are pleased to announce a new term life product specially designed for Canadian expatriates and Canadian residents with extensive international travel exposure.”International travel and worldwide residency have posed some very difficult challenges to the life insurance industry in recent years,” according to a press […]
By Canadian Underwriter | December 22, 2005
Kingsway Financial Services Inc. (TSX:KFS) recently appointed three individuals to executive positions within the company. President and chief executive officer William G. Star announced that Laura Foster has been appointed to the position of vice president, Internal Audit and Corporate Compliance and that Andrew Wright has been appointed to the position of vice president, Reinsurance […]
The insurance industry must not only recover from hits to its earnings and capital resulting from catastrophic events but it must also increase its capacity to meet expected demand, according to a recent article published by Standard & Poor’s Ratings Services. The report “Credit FAQ: Rating The Reinsurance Startups” says this is what is currently […]
By Canadian Underwriter | December 20, 2005
AIG United Guaranty Canada, which will be open and licensed in 2006, has named Andy Charles as president.The company is an affiliate of AIG United Guaranty, which provides mortgage guaranty insurance designed to increase home ownership. Beginning in 2006, AIG United Guaranty Canada plans to offer Canadian consumers additional choice by providing mortgage default insurance […]
By Canadian Underwriter | December 16, 2005
The primary non-life sector is expected to attain positive results in 2006 with primary premiums growing above inflation and specifically, significant increases arising in classes impacted by 2005’s hurricane season, Swiss Re reported at its recent annual review and outlook for the insurance industry. In order to maintain positive results in light of strong competitive […]
By Canadian Underwriter | December 15, 2005
Montpelier Re Holdings Ltd. (NYSE:MRH) recently implemented actions deemed necessary to receive an affirmative rating from A.M. Best Company. In concurrence with these actions, Montpelier has declared a quarterly dividend of $0.075 per Common Share, which is payable on January 13, 2006 to shareholders of record on December 31, 2005. “Reducing our ordinary dividend will […]
By Canadian Underwriter | December 13, 2005
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