Commercial

What’s new: In brief (May 10, 2004)

The World Trade Center insurance trial verdict will have far-reaching implications for commercial clients, says Wood & Bender LLP. While the decision highlights the need to have insurance negotiations finalized prior to completing major business transactions, it has also spurred insurers to adopt policies to avoid liability. These “three Rs” include retrenchment of sources of […]

By Canadian Underwriter | May 10, 2004

1 min read

Commercial

Commercial industrial focus paying off for GCAN

Toronto-based GCAN insurance company has seen its “A” (excellent) rating affirmed by A.M. Best, a sign of “the continuation of the good results we’ve had for five years”, says president Andy Henke.Henke says the company’s focus on commercial industrial risks has paid off and will continue in the future. GCAN was purchased last year by […]

By Canadian Underwriter | May 9, 2004

1 min read

Commercial

Travelers, St. Paul merger to take effect April 1

Following shareholder support, and settlement of a shareholder lawsuit, the Travelers-St. Paul merger is set to take place April 1, the companies announce.Shareholders had approved the merger two weeks ago, with regulators following suit. The new company, St. Paul Travelers, will trade on the New York Stock Exchange as STA.The merger, which will create the […]

By Canadian Underwriter | March 30, 2004

1 min read

Commercial

SGI gives break to commercial auto policyholders

Following on its “safe driver recognition program”, Saskatchewan Government Insurance (SGI) is planning to offer discounts to its commercial clients.SGI predicts that during the first year of the program, about $2.8 million in policy discounts based on safe driving records will be given to 70,000 business owners. In fact, more than 96% of businesses will […]

By Canadian Underwriter | February 20, 2004

1 min read

Hub acquires Ontario commercial accounts

Chicago- based broker consolidator Hub International Ltd. has acquired the book of business of an Ontario broker specializing in commercial agriculture accounts.The book, that of broker and producer Martin Kir, is estimated to produce annual revenue of US$270,000. Kir now joins Hub’s Leamington, ON office as a senior account executive, and the book of business […]

1 min read

On the Move (February 01, 2004)

Allison Murray, former executive vice president and COO of Enterprise Canada Insurance Services, has started her own company, A.M. Associates. The new company will focus on commercial lines consulting and research for insurers, brokers and law firms. Allianz Canada has appointed Laurent Nadeau as regional vice president for Quebec and Atlantic Canada after more than […]

January 31, 2004

1 min read

Farm equipment injuries lead to highest jury awards: study

Victims of injuries caused by farm products tractors, backhoes and more received the highest median jury awards over the last decade of all products liability segments, says a new study by Pennsylvania-based Jury Verdict Research.The new study, “Products Liability: Verdicts, Settlements and Statistical Analysis”, covers compensatory jury awards in product liability cases between 1993-2002 in […]

1 min read

New study highlights dangers of marijuana grow operations

In a report highlighting concerns over commercial marijuana grow operations, insurance concerns over the increased danger of fire are being brought forward by the Ontario Association of Chiefs of Police (OACP).The OACP-commissioned report speaks to several concerns, including the cost of stolen electricity, youngsters living in the grow house begin exposed to risks, and the […]

1 min read

Marine underwriters merge through acquisition

Marine underwriter Harlock Williams Lemon Ltd. (HWL) is buying Murray Underwriting Ltd., to become one of the top five marine carriers in the country.Harlock Murray Underwriting Ltd. will have annual revenues of $25 million. “The markets and staff of the two companies complement each other extremely well, and this merger is seen as a great […]

1 min read

2003 sets record for digital attacks

Not yet mid-way through the year, 2003 has already set the record for digital attacks, and those attacks are becoming more dangerous, says digital security firm mi2g.As of May 25, 87,903 overt digital attacks were verified worldwide, while the previous annual record, set in 2002, was 87,525.A release from mi2g notes the attacks are targeting […]

1 min read