Industry
The Ontario Superior Court of Justice has allowed a plaintiff to add a defendant to a product liability action despite the expiry of a two-year limitation period, because doing so met the test that allows “the correction of a misnaming or misdescription of a party.”In a statement of claim on April 12, 2006, plaintiffs Karen […]
By Canadian Underwriter | November 11, 2011
2 min read
The Co-operators has launched a toolkit offering guidance for leading more environmentally sustainable lives. Sustainability at Home: Decision making help for your everyday choices was released in partnership with The Natural Step Canada.The toolkit presents Canadians with practical tips and ideas on how to “green” their homes on a room-by-room basis. It is designed as […]
1 min read
EGI Financial Holdings Inc. reported a $2.3-million profit in 2011 Q3, up $2.3 million over 2010 Q3.For the first three quarters of 2011, EGI recorded a $10-million improvement in underwriting results over the same period in 2010.The company’s combined operating ratio (COR) in non-standard auto dipped from 102% in 2010 Q3 to 91% in 2011 […]
RSA has announced changes to its operating structure that will see RSA Canada president and CEO Rowan Saunders appointed to its Global Group executive team.Effective Jan.1, 2012, RSA Group will be organized into four regions: UK & Western Europe, Scandinavia, Canada and Emerging Markets. As a member of the Global Group executive team, Saunders will […]
Munich Re posted a profit of roughly $110 million in the first nine months of 2011, compared to a profit of $2.7 billion during the same period of 2010. The group posted a profit of $401 million in 2011 Q3, a drop from 2010 Q3’s profit of $1.1 billion.Its reinsurance business reported a combined ratio […]
By Canadian Underwriter | November 10, 2011
Driving without winter tires will not void an insurance policy in the event of a claim, but in a scenario in which a driver has crashed and winter tires may have helped to avoid it, it may be a deciding factor in determining fault, ICBC said.”Drivers are always responsible for ensuring their vehicles are properly […]
Insurance Brokers Association of Ontario (IBAO) launched a mobile service for its members to assist with productivity and keep brokers organized while on the go. The new service, called ‘hereiam,’ allows brokers to:•Listen and compose emails while driving. The hereiam app will read email messages back to the subscriber. It also records voice notes and […]
The Desjardins Group’s property and casualty insurance segment reported its surplus earnings rose $17 million in 2011 Q3 despite a higher loss ratio in the third quarter of 2011 than during the same period in 2010.The segment’s total income in 2011 Q3 was $571 million, up $147 million or 34.7% from the same period of […]
Ontario’s property and casualty industry contributed a total of $7.5 billion to the province’s economy either directly or indirectly (through ‘spin-off’ contributions), according to a Conference Board of Canada study released on Nov. 9 by the Insurance Bureau of Canada (IBC).Ontario’s P&C sector made $4.1 billion in direct contributions to the province’s Gross Domestic Product […]
By Canadian Underwriter | November 9, 2011
Insurance Bureau of Canada (IBC) has partnered with fire officials in New Brunswick to promote fire safety and preparedness in homes.The ‘Alarmed and Ready’ campaign will see the province’s firefighters going door-to-door providing free smoke alarms to households that don’t have one, and replacement batteries to households that already have alarms. The initiative is a […]
By Canadian Underwriter | November 8, 2011
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