Industry
LawPRO, the professional indemnity company for Ontario’s lawyers, has appointed Susan T. McGrath as chair of its board of directors. A sole practitioner based in Iroquois Falls, McGrath has held leadership roles with the Cochrane Law Association (president, 1983-1984), the Ontario Bar Association (president, 1999-2000) and the Canadian Bar Association (president, 2004-2005). She succeeds Ian […]
By Canadian Underwriter | May 7, 2012
1 min read
Motorcycle riders and other motorists in Saskatchewan are being reminded throughout the month of May to keep safety top of mind. Saskatchewan Government Insurance (SGI), the Saskatchewan Safety Council (SSC) and the RCMP have jointly launched an educational campaign as part of Motorcycle Safety Week, which runs from May 6 to 12. The focus of […]
Swiss Re rebounded nicely from a loss of US$665 million in 2011 Q1 to a gain of $1.1 billion in 2012 Q1, results that seem to auger well for the company’s 2011-15 plan. “We aim to capture the opportunities we see arising from the hardening of the property and casualty reinsurance market, strong economic growth […]
By Canadian Underwriter | May 4, 2012
EGI Financial Holdings Inc. has acquired CUISA Managing General Agency. Based in B.C., CUISA MGA provides insurance services to 160 credit union-owned insurance broker offices across the province. By gaining access to distribution through credit unions, the acquisition means EGI gains a foothold in Western Canada and a marketing and service office. “Equally important, it’s […]
New Brunswick’s Consumer Advocate for Insurance is advocating for its own existence, resisting a recommendation in a July 2011 report to fold the office into a larger public utilities framework. The office was established in 2005 “not only as one of the reforms to deal with the auto insurance crisis prevailing at that time, but […]
2 min read
Severe weather damage in the United States in April 2012 resulted in at least 105,000 claims and insurance payments exceeding $650 million, notes an Aon-Benfield report. In its April 2012 Global Catastrophe Recap, Aon Benfield references a major severe weather outbreak that swept across the central United States in April 2012, killing at least six […]
More than 50 CARSTAR insurance partners attended a Paintless Dent Repair (PDR) estimating and techniques training seminar in April at CARSTAR’s corporate head office and training facility, CARSTAR Vision Park in Hamilton, Ontario. The three-hour course provided attendees both classroom and hands-on experience in paintless dent repair estimating and techniques. PDR students who successfully completed the […]
The Insurance Corporation of British Columbia (ICBC), the Province of B.C. and police have launched a new initiative meant to put the brakes on intersection collisions, which represent about six of every 10 crashes in the province. Given 241 intersection collisions each day, in addition to an annual injury toll of approximately 51,000, the high-risk […]
By Canadian Underwriter | May 3, 2012
Co-operators General Insurance Company (Co-operators General) reported its 2012 Q1 profit increased to $66.5 million from $25.8 million during the same period last year. “Earnings in the first quarter were positively impacted by favourable claims results from the Ontario auto insurance market and the mild winter, which reduced the number of weather-related claims,” said Kathy […]
Regulation is the number one challenge facing the U.S. insurance industry despite the financial burden associated with the elevated number of catastrophes in 2011, a Lloyd’s survey of insurance executives in April reveals. Lloyd’s canvassed 100 insurance executives at the Risk and Insurance Management (RIMS) conference in Philadelphia last month. Executives were asked to assess […]
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