Industry
Frank Cowan Company will open a new branch in Cambridge, Ontario that will focus on dedicated specialty lines and program business. Steve Halfpenny, vice president of specialty lines, will lead the team. He will be working with Michael Lough, vice president of programs; Patrick Maloney, business development manager; and Annette Henry, manager of specialty lines […]
By Canadian Underwriter | January 9, 2012
1 min read
Monarch Intermediaries Inc. has launched a property and casualty brokerage-based program that provides employees of businesses and customers of insurers access to second opinions from WorldCare Consortium.WorldCare Consortium is composed of academic healthcare institutions, with a network of more than 17,000 physicians, specialists and sub-specialists. Monarch Intermediaries now enables private insurers, employers and associations to […]
2 min read
Ontario’s broker regulator, the Registered Insurance Brokers of Ontario (RIBO), is reporting an increasing number of fraudulent pink slips.RIBO says brokerage names are being ‘stolen’ and used on bogus auto insurance slips. In its winter bulletin, RIBO said the frauds have come to light when purported ‘insureds’ go to a broker’s office with a bogus […]
By Canadian Underwriter | January 6, 2012
The number of women arrested in the United States for driving while intoxicated (DWI) increased nearly 30% in the decade between 1998 and 2007, according to the Traffic Injury Research Foundation (TIRF).In TIRF’s report, State of Knowledge: Female Drunk Drivers, researchers reviewed research from the 1980s through to present day to describe the magnitude of […]
Impact Auto Auctions, a Canadian automotive salvage management company and a wholly-owned subsidiary of KAR Auction Services Inc. (NYSE: KAR), has opened a second Calgary-area location in Airdrie, Alberta.The new location, known as Calgary North, doubles Impact’s capacity in the Calgary area. The new site will feature enhanced reconditioning and inspection facilities, as well as […]
Belfor (Canada) Inc. has acquired Laurier Restoration Inc. Laurier is a Montreal-based restoration contracting firm owned and operated by Ian Thomas. Thomas will remain with the company as branch manager of the Montreal location. He said he is committed to growing Belfor’s presence within Quebec. “I am excited about the opportunities that are available to […]
The increasing popularity of online shopping presents heightened and expanding risks for retailers, including a network outage or downtime during a busy trading period, warns Lloyd’s.In a report, Online Shopping Delivers Greater Retailer Risk, published on its website, Lloyd’s said that with the increasing volume of online transactions, the potential for problems for retailers also […]
By Canadian Underwriter | January 5, 2012
The Office of the Superintendent of Financial Institutions (OSFI) has added ‘Unpaid Claims and Loss Ratio Analysis Exhibit’ to the list of returns to be uploaded via the automated data transfer (ADT) site. The addition of the unpaid claims and loss ratio analysis exhibit is part of OSFI’s move toward total electronic filing, an OSFI […]
The use of telematics, particularly in auto lines, will become commonplace, leaving insurers unwilling to make the investment in a position of adverse selection, reported Celent.In its report, Telematics-Based Insurance: Has its Time Finally Arrived? Celent notes that several big insurance brands in the United Kingdom and the United States have launched telematics programs in […]
The Financial Services Commission of Ontario (FSCO) is warning consumers that Kenneth Gibson is not licensed to do insurance business in Ontario as an insurance agent.FSCO said in a statement posted online that Gibson appears to be affiliated with Easy Trust Group. FSCO issued a separate but related warning notice that Easy Trust Group (www.easytrustgroup.com […]
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