Industry
The Insurance Bureau of Canada (IBC) is reminding homeowners every home has something that poses a carbon monoxide (CO) threat and that alarms are now mandatory in homes with a fuel-burning appliance or an attached garage. “Having a CO alarm will help protect families and save lives,” Ralph Palumbo, IBC’s vice president, Ontario, notes in […]
By Canadian Underwriter | December 15, 2014
2 min read
Premium rate changes in crime and fidelity insurance, for financial institutions in Europe, the Middle East and Africa, have taken a “sharp turn upward” while 29% of respondents reported improved coverage terms in directors’ and officers’ liability policies, Aon plc recently reported. London-based Aon Risk Solutions announced Wednesday the release of its 2014 EMEA Financial […]
By Canadian Underwriter | December 12, 2014
3 min read
In a recent survey of risk professionals, respondents who were not responsible for enterprise risk management (ERM) reported they were “generally more satisfied” with their organizations’ commercial insurance carriers and brokers than those who were, Risk and Insurance Management Society Inc. (RIMS) suggested Wednesday. RIMS and McGraw Hill Financial Inc.’s J.D. Power unit announced Monday […]
By Canadian Underwriter | December 10, 2014
4 min read
Commercial insurance prices in the United States continued a familiar trend in the third quarter of the year, with price changes – up 3% in aggregate over the same quarter in 2013 – at almost the same level as Q2 of 2014 notes the latest Commercial Lines Insurance Pricing Survey (CLIPS) from Towers Watson. The […]
By Canadian Underwriter | December 9, 2014
The Insurance Brokers Association of Ontario’s executive committee announced Tuesday that Randy Carroll has “moved on” from his role as CEO of the organization effective immediately. The executive committee has appointed Colin Simpson, former CEO of Independent Broker Resources Inc. (IBRI), as the interim CEO of IBAO. IBRI is the for-profit arm of the IBAO […]
1 min read
More than half of insurance company respondents to a recent survey from rating agency A.M. Best said they do not purchase cyber security insurance for their own firms. In the survey, which included property and casualty insurance firms and life and health insurers, 53% said they don’t currently buy any kind of cyber coverage. Thirty […]
By Canadian Underwriter | December 8, 2014
International insurance brokerage and risk management firm Integro Insurance Brokers has acquired Vancouver-based Finning Insurance Services. Financial details of the transaction, announced Monday, were not disclosed. Founded in 1988, Finning Insurance Services (FIS) offers heavy equipment insurance solutions to commercial clients. The company also has staff in Edmonton and Kamloops. The FIS team, led by Kris […]
TOKYO – The top Japanese auto safety official acknowledged Friday that Japan’s recall system needs an overhaul to better respond to global problems highlighted by the debacle over Takata air bags that can explode. “The framework in place now doesn’t allow for that,” Masato Sahashi, director of the recall office at the transport ministry, said […]
By Canadian Underwriter | December 5, 2014
WINNIPEG – Drivers in Manitoba are going to be paying more to insure their vehicles. The Public Utilities Board has approved a 3.4 per cent increase in compulsory premiumseffective March 1. The board says basic insurance has seen combined losses over the past two fiscal years of more than $132 million. Manitoba Public Insurance is […]
By The Canadian Press | December 5, 2014
Ontario’s ruling Liberals are proposing to possibly expand the list of agricultural products eligible for crop insurance under Agricorp, while the opposition’s agriculture critic is calling for insurance for bees and racing horses. Agricorp, an Ontario crown corporation, provides coverage for production losses and yield reductions — caused by insured perils — for agricultural crops […]
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