insPRESS
STRONE, an emergency and restoration company headquartered in Oakville, Ontario, has acquired Itech Precision Cleaning Inc. with its full scope of emergency response, environmental remediation, and technology restoration services. “This acquisition creates a complete emergency solution for insurance and facility management industries, municipalities, commercial entities, and industrial businesses,” explains Steve Blinco, Co-CEO, Support Services for […]
By Canadian Underwriter magazine | May 29, 2012
2 min read
Industry
Sarina Visram has been named manager of member relations and communications for the Centre for Study of Insurance Operations (CSIO). In her new role, Visram will work to develop and implement programs and activities that improve membership engagement and promote CSIO’s technology standards and solutions. CSIO has a membership of more than 2,100 brokerages, 21 […]
By Canadian Underwriter | May 29, 2012
1 min read
Ontario homeowners could see a reduction in home insurance premiums as part of a partnership between Allstate Insurance Company of Canada and Rogers. In markets where Smart Home Monitoring from Rogers is available, Allstate Canada customers who install the system will be offered a 25% discount on their premiums. They will also receive a free […]
Canadian manufacturers experienced somewhere between $3 billion to $5 billion in lost production as a result of natural disasters such as Japan and Thailand in 2011, Jayson Myers, president and CEO of Canadian Manufacturers & Exporters, said during a webinar last week. Japan’s Tohoku earthquake and the Thailand floods revealed immediate disruption to supply chains […]
By Canadian Underwriter | May 28, 2012
Claims costs for Ontario auto insurers remain high despite the gains realized as a result of the provincial reforms in 2010, notes the Insurance Bureau of Canada’s (IBC) submission to the Ontario Committee Hearings on Auto Insurance on May 28. “While the September 2010 reforms were a needed first step in reducing the pressure on […]
Claims
Environment Canada has confirmed that a “very rare” F1 tornado packing speeds of 150 km-h tore through St.-Benoit-de-Mirabel on May 28, destroying a 200-year-old historical church and causing more then $1 million in damage. Environment Canada noted this is the second tornado in fewer than two years to have hit the St.-Benoit-de-Mirabel, a town located […]
A coroner’s jury exploring a deadly fire at an Orillia, Ontario retirement home three years ago is recommending that the province make automatic sprinklers mandatory in care occupancies. The recommendation to install the sprinklers retroactively in so-called B3 facilities is one of 39 penned in the wake of the Muskoka Heights Retirement Home fire on […]
Cunningham Lindsey Canada Claims Services Ltd. has deployed a catastrophe (CAT) response team to Thunder Bay, Ontario to assist with the handling of flood claims affecting hundreds of homes and commercial buildings. Up to 20 mm of rain fell in a 24-period as of May 27, swelling riverbanks, and another 30 mm or rain was […]
The Economical Insurance Group (TEIG) increased its net income by $11.9 million in 2012 Q1, the company reported. “Our first-quarter results show that Economical is continuing to produce strong profitable growth,” Karen Gavan, TEIG president and CEO, said in a press release. “The company registered 41% growth in net income over the same quarter of […]
By Canadian Underwriter | May 25, 2012
The Dominion earned a net income of $32.4 million in 2012 Q1, an increase over the $21.4 million for the same period in 2011. “The increase over the prior year’s first quarter is due mainly to better underwriting results,” the company reported. The combined ratio for the quarter was 97.1% (102.3% in 2011 Q1) and […]
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