Industry
Most European companies are not properly covered for emerging risks such as terrorism and political violence, according to research from ACE Group. Roughly one-third (32%) of firms cited terrorism and political violence as the most important risk concern for their business, yet only 7% of companies have comprehensive insurance for these exposures and 34% have […]
By Canadian Underwriter | July 25, 2012
1 min read
Standard & Poor’s Services has assigned long-term ‘A’ counterparty credit and financial strength ratings to Canadian-based Chartis Insurance Company of Canada (Chartis Canada). The outlook on the company is stable, S&P’s says. “Chartis Canada is strongly capitalized with a capital redundancy above the rating level based on the Standard & Poor’s capital model,” the ratings […]
CARSTAR has appointed Terry Holowaty as its new quality systems specialist for Western Canada. Holowaty will work directly with franchise partners in British Columbia, Alberta, Saskatchewan and Manitoba, helping them to understand and implement CARSTAR Quality Systems best practices in the technical, estimating and production aspects of their operations. He will also work towards supporting […]
The catastrophe reinsurance market may be on the cusp of a strategic shift, with third party capital providers set to take on increasing amounts of peak catastrophe risk in the future, according to Willis Capital Markets & Advisory (WCMA), part of the global insurance broker, Willis Group Holdings (NYSE: WSH). The latest Insurance-Linked Securities (ILS) […]
By Canadian Underwriter | July 23, 2012
2 min read
Western Financial Group (Western) has acquired B.C. Yacht Insurance Brokers Inc. (B.C. Yacht), as of July 1. B.C. Yacht is headquartered in Sidney, British Columbia and is Sidney’s only specialized marine insurance brokerage. The deal is Western Financial Group’s second acquisition on Vancouver Island this year. “We have developed specialized expertise and underwriting agreements with […]
U.S. wireless carrier Sprint has set its sights on providing vehicle-tracking technology that will provide insurers with information about vehicle activity and driver behaviour. Sprint has announced its intention to market integrated, end-to-end, usage-based insurance (UBI) services, which the company contends will enable insurance carriers to identify better drivers and reduce risk. This will help […]
By Canadian Underwriter | July 20, 2012
An Ontario Progressive Conservative Caucus White Paper has recommended that private insurance companies be allowed to compete with the Workplace Safety Insurance Board (WSIB) for the provision of work-related insurance coverage. The WSIB is a government agency that provides injury and disability benefits to workers. Employers fund the WSIB through payroll taxes in the form […]
Crawford & Company (NYSE: CRDA; CRDB) has announced that Glenn Gibson is leaving his role as executive vice president for global strategy, projects and development to become CEO of a consulting practice the company is building in Canada. In his new role, Gibson would be responsible for further developing Crawford’s Canadian consulting practice in the […]
By Canadian Underwriter | July 19, 2012
The Centre for Study of Insurance Operations (CSIO) has appointed Pranab Pandey to the position of manager of standards and business process improvements. Pandey joins CSIO from TATA Consultancy Services, where he held various positions in project management, operations and enterprise applications design and implementation. He has more than five years of specialized experience in […]
FirstOnSite Restoration is expanding its operations to the United States. Currently, FirstOnSite works with U.S. clients who have property in Canada. This new initiative brings the company to American soil to serve Canadian customers who have property in the United States, as well as U.S. customers directly. FirstOnSite’s team has responded to some of the […]
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