Industry
Economical Insurance of Waterloo, Ont. announced Monday the sale of the principal operating assets of Seattle-based Mattei Insurance Services Inc. The sale, to Alteris Insurance Services Inc., is aligned with Economical’s “ongoing preparations for demutualization,” chief financial officer Philip Mather stated in a press release. Economical previously reported it is analyzing market conditions for a […]
By Canadian Underwriter | October 15, 2012
1 min read
Economical Insurance of Waterloo, Ont. has added the Insurance on Demand web service to its corporate website but the Insurance Brokers Association of Ontario (IBAO) says it is opposed to company portals and company mobile apps. IOD was originally announced in 2010 and allows users to manage their insurance online on brokers’ websites. The addition […]
2 min read
Auto repair company CARSTAR has renewed its first ever franchise relationships for another 20 years, the Hamilton, Ont.-based company announced Oct. 12. During the 1980s, both Domenic Lucarelli and Sam Saputo were employees of CARSTAR president and CEO Sam Mercanti, who recognized their talent for the industry. In June 1992, the two opened the company’s […]
Software vendor Policy Works Inc.’s iPad application, Policy Works Producer, is now available for download from Apple’s App Store. The app, released selectively in March, is designed for “commercial lines insurance producers working in the field,” according to the company, whose software system is meant to automate brokers’ workflow and make certain tasks, such as […]
Fairfax Financial Holdings Ltd. of Toronto announced Friday its RiverStone runoff subsidiary has completed the acquisition of London-based Brit Insurance Ltd. Last June, Manchester, N.H.-based RiverStone reached an agreement to purchase all outstanding shares of Brit from Brit Group. At the time, the purchase price was expected to be about $300 million. Through its subsidiaries, […]
By Canadian Underwriter | October 12, 2012
Crawford and Company Canada has launched its Contractor Connection repair network service for its United Kingdom-based R J Kiln and Co. Ltd. business, effective Nov. 1. Contractor Connection is a managed repair vendor network available to insurers for residential and property claims programs. It includes services such as contract administration, repairs, estimate reviews and water […]
Insurance buyers will face a “complex marketplace” in 2013, with property and casualty rates mainly flat or decreasing with a few exceptions, predicts a new report from global insurance broker Willis Group Holdings. This year has been one of recovery for the P&C industry, following major losses in 2011, says Marketplace Realities 2013, published as […]
Global casualty insurance rates and property insurance rates for American firms rose during the third quarter of this year while competition for natural catastrophe insurance is intense for mid-sized energy projects, according to a recent report published by Marsh Inc. “Casualty insurance rates globally rose on average by 1.2% on renewal in the quarter, higher […]
The massive safety recall issued by Toyota Motor Corp. on Oct. 10 affects about 240,000 vehicles in Canada, out of about 7.4 million globally. The recall relates to a problem with the power window master switch that could become “sticky” during operation because of improperly applied grease, leading to possible smoke or fire under some […]
By Canadian Underwriter | October 11, 2012
The United States government is warning drivers about counterfeit airbags that are a serious safety risk. The Department of Transportation’s National Highway Traffic Safety Administration (NHSTA) issued a warning about counterfeit airbags used as replacement parts in vehicles that have been involved in a crash, it said in a statement. The replacement airbags look almost […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
