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The Ontario Municipal Insurance Exchange (OMEX) announced on Thursday that it will suspend Reciprocal underwriting operations effective immediately “to allow it time to fully assess the needs of Ontario municipalities with a view to redesigning its products to better service the needs of its future members.” As a result of this decision, OMEX will immediately […]
By Canadian Underwriter | August 11, 2016
2 min read
The Toronto Insurance Conference (TIC) is reminding broker members, partners and staff that the deadline to submit applications for the annual TIC Scholarships Program is just around the corner. Up to $15,000 in scholarships will be available as part of the fourth edition of the program, managed by the Insurance Institute of Ontario, notes a […]
By Canadian Underwriter | August 9, 2016
National insurance managing general agency Totten Insurance Group announced on Wednesday that it has acquired the shares of Canadian Resources Insurance Solutions, Inc. (CRIS), a Sudbury, Ont. based insurance wholesaler. Terms of the acquisition were not disclosed, but Hub International Limited said in a press release that this strategic acquisition expands the MGA’s footprint in […]
By Canadian Underwriter | August 3, 2016
Lackner McLennan Insurance Ltd. announced on Tuesday that it has acquired Erb and Erb Insurance Brokers Ltd. Waterloo, Ont.-based Lackner McLennan (LMI) said in a press release that the acquisition occurred on Friday. Kitchener, Ont.-based Erb and Erb and Lackner McLennan will continue to operate as their own entities for the “next few years to […]
By Canadian Underwriter | August 2, 2016
Mutual insurers’ share of the overall insurance market increased from 24% of direct premiums written in 2007 to just over 26% in 2014, reversing some of the declines of previous decades, according to Swiss Re’s latest sigma report. Released on Tuesday, Mutual insurance in the 21st century: back to the future? also found that the […]
5 min read
Risk management is becoming more about strategy and less about buying insurance and managing hazard risk, Julie Pemberton, RIMS president for 2016, says.
By Greg Meckbach, Associate Editor | August 1, 2016
The Insurance Brokers Association of Ontario (IBAO) has announced the appointment of Colin Simpson as CEO, effective Wednesday. IBAO president Doug Heaman made the announcement on behalf of the association’s executive committee and recruitment committee. Simpson brings more than 15 years’ experience and knowledge of technical industry issues in the insurance field, the IBAO said […]
By Canadian Underwriter | July 28, 2016
The Centre for Study of Insurance Operations (CSIO) announced on Wednesday that Trillium Mutual Insurance Company has become the latest company to obtain CSIO certification for Personal Lines eDocs. When eDocs are used to their full potential, sending, receiving, sorting, scanning and destroying paper is no longer necessary, “saving the industry significant amounts of time […]
By Canadian Underwriter | July 27, 2016
The board of directors of Economical Insurance announced on Wednesday that Rowan Saunders has been named president and CEO effective Nov. 1. Having served as president and CEO of RSA Canada since 2003, Saunders (pictured right) will “further the vision of Economical to be one of Canada’s top P&C insurance companies and advance the company’s […]
4 min read
External cyberattacks are costing businesses in the United States about US$3.5 million in incurred annual costs, with 79% of polled businesses lacking comprehensive strategies to manage these risks, according to a new Ponemon Institute study sponsored by BrandProtect. Despite acute awareness of the millions of dollars in annual costs, and the business risks posed by […]
By Canadian Underwriter | July 18, 2016
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