Industry
Zurich Canada CEO Alister Campbell is no longer with Zurich’s Canadian business, effective immediately, the company has announced to its brokers.”A smooth transition is planned and a successor will be named in due course,” Zurich wrote in a statement to brokers on Feb. 7. “As a leader in our industry, during this brief transition and […]
By Canadian Underwriter | February 8, 2012
1 min read
Regime changes and the political unrest arising from Arab Spring have raised concerns for businesses around the world, according to Aon’s 2012 Political Risk Map.”These uprisings and protests remain a key concern in 2012 and we see this reflected in rating downgrades of several countries,” said Roger Schwartz, senior vice president of political risk for […]
The Economical Insurance Group has added two new members to its board of directors.David Wilson, the past chair of the Ontario Securities Commission, and Richard Freeborough, chair of the International Order of Foresters and the board of governors of the University of Guelph, have joined The Economical’s board. Wilson also served as the vice chair […]
By Canadian Underwriter | February 7, 2012
The B.C. Insurance Council has ordered a B.C. broker to pay a fine and legal costs totaling more than $3,000 after finding the broker arranged to create a false insurance cover letter as a favour to his friend, the broker’s commercial insurance client.The friend, identified as ‘RL,’ a business manager of an import and export […]
2 min read
Integro has established four divisions, including Integro Canada, to better serve its broadening client base going forward.The insurance brokerage and risk management firm reported a 21% growth in revenue in 2011, up to $101 million. Integro has established four client-centric divisions. These include:•Integro Canada. These include pan-Canadian insurance brokerage services delivered from offices in Toronto, […]
The U.S. property and casualty industry experienced its largest underwriting loss in 2011 since 2002, reported A.M. Best. Driven primarily by high catastrophe-related losses, alongside elevated losses in select and non-catastrophe-exposed lines, less favourable loss-reserve development and weak macroeconomic conditions, the industry’s combined ratio is expected to deteriorate 6.5 points to 107.5% for 2011 (down […]
Insurance consumers in Ontario, Quebec and Alberta are leaving money on the table by passing up discount opportunities, Kanetix says.Kanetix, an online quote comparison website, recently published 2011 Q4 auto insurance rate results for Ontario, Quebec and Alberta. The study found consumers are passing up insurance savings by not opting for multi-line, roadside assistance and/or […]
By Canadian Underwriter | February 6, 2012
The first U.S. property and casualty insurer to use a social networking site as a platform for its business will likely be a direct writer that offers personal auto, motorcycle or dwelling insurance and not necessarily one of the biggest insurers in the market, Mike Fitzgerald, a senior analyst at Celent, wrote on his Feb. […]
ClearRisk has announced two appointments within its sales and marketing department. Ray Dillon joins the St. John’s-based company as chief sales and marketing officer and Chris Gardner has been promoted to vice president of sales and marketing. “Ray led the sales team that grew Cable Atlantic to be one of the biggest acquisitions ever in […]
A Magnitude-5.6 earthquake struck offshore of Vancouver Island in B.C. around noon on Feb. 4. Natural Resources Canada estimated the depth of the epicenter at 12.8 kilometres. The epicenter was approximately 170 kilometres west of Ucluelet, B.C. (near Tofino, B.C.)”No tsunami [is] expected from an event of this magnitude,” Natural Resources Canada reported on Feb. […]
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