Claims
Insurance Bureau of Canada has launched the first Atlantic Region study of rain barrel use to avoid water damage, after a similar project earlier this year in Ontario. Beginning Sept. 7, in Stratford, PEI, IBC is providing 1,000 homes with rain barrels to assess their impact on relieving stress of water systems and keeping basements […]
By Canadian Underwriter | September 7, 2012
1 min read
Industry
Reinsurance companies would be well-advised to continue to focus on solid underwriting to weather uncertainties and adapt to changes. Companies “really need to remain focused on their underwriting,” Gale Guerra, a senior financial analyst at A.M. Best Company, told attendees at the company’s 2012 Insurance Market Briefing – Canada, held in Toronto on Sept. 6. […]
By Canadian Underwriter | September 6, 2012
2 min read
Toronto’s Tredd Insurance Brokers Ltd. has announced the purchase of H.E. Hunt & Associated Ltd. Insurance Brokers. H.E. Hunt, based in Calgary, is now a wholly owned subsidiary of Tredd, but will continue to operate under its previous name. The company has a strong presence providing insurance for the oil and gas industry. Ian Eddy, […]
The outlook for the Canadian property and casualty market for the remainder of 2012 is stable, with a low level of change to companies’ ratings, notes a senior financial analyst with A.M. Best Company. This is despite economic uncertainty in many parts of the world, Jackie Catrino Lentz commented during the rating agency’s 2012 Insurance […]
The low interest rate environment and declining investment returns are putting stress on the insurance industry and having a significant impact on re/insurers, Kurt Karl, chief economist for Swiss Re, noted in a blog post on Sept. 5. “The vulnerability of different lines of business depends on the importance of investment income as a source […]
Omega Insurance Holdings Inc. has announced Matthew Cook as its new president of the group, including both subsidiary companies, Omega General Insurance Company and Focus Group Inc. Cook was previously the group’s chief financial officer and company secretary. He joined the group in 2004, when the Omega General Insurance Company was created, after working as […]
Damage was reported to be light despite a strong earthquake hitting Costa Rica on Sept. 5. The magnitude 7.6 earthquake struck a sparsely populated area about 150 km west of the capital city of San José, notes information from catastrophe modelling firm AIR WorldWide. Damage was not expected to be significant given the depth of […]
insPRESS
Steve Wilson, Senior Publisher, Canadian Underwriter magazine – Insurance Media Group, is pleased to announce the appointment of Harmeet Singh to the position of Online Editor of Canadian Underwriter’s Insurance Media Group of products and websites, including CanadianUnderwriter.ca. Harmeet joins Canadian Underwriter from a previous position as a reporter covering the information technology industry in […]
By Canadian Underwriter magazine | September 5, 2012
Many Canadians are willing to risk travelling without insurance, often because they find the products confusing, notes new survey results from American Express Canada. About a third of the 1000 Canadians polled in July have never purchased travel insurance, American Express reports in a statement. That percentage is even higher among Canadians between the ages […]
By Canadian Underwriter | September 5, 2012
Intact Financial Corporation today announced the completion of its $530-million acquisition of Jevco Insurance Company, a wholly owned subsidiary of The Westaim Corporation. The acquisition of JEVCO, a leading provider of specialty and niche insurance products for individuals and businesses in Canada, increases Intact’s direct premiums written by approximately $350 million on a pro forma […]
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