Canada’s home, car and business insurers, along with Operation Red Nose and the Ontario Safety League, presented a cheque for $4,213.50 to the Women in Insurance Cancer Crusade (WICC).The money was raised by Operation Red Nose in Halifax, Nova Scotia and Newmarket, ON during the last Christmas season. Operation Red Nose is a designated-driver service […]
By Canadian Underwriter | February 24, 2006
2 min read
Allianz Insurance Company of Canada and The Nordic Insurance Company of Canada, both insurance subsidiaries of ING Canada Inc. (TSX:IIC.LV), have announced their intention to amalgamate under the name The Nordic Insurance Company of Canada. The transaction is subject to regulatory approval. ING Canada acquired Allianz Insurance Company of Canada in 2004. ING Canada president […]
By Canadian Underwriter | February 20, 2006
1 min read
ING Canada Inc. (TSX: IIC.LV) reported net income of Cdn$196.9 million for the quarter ended Dec. 31, 2005 up 13.7% from Cdn$173.1 million in the same period of the preceding year. Revenues for the fourth quarter also increased to Cdn$1.1 billion a 10.6% increase from Cdn$1 billion in the corresponding quarter of 2004.For the year […]
By Canadian Underwriter | February 16, 2006
2 min read
Allstate claims adjusters released a cautionary press release on Valentine’s Day, listing some of the most common reasons why that diamond you just bought, gave or received may not be forever.According to claims professionals at Allstate, who handle thousands of jewelry-related claims each year, the following are among the top reasons why diamonds are often […]
By Canadian Underwriter | February 14, 2006
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Aon Corporation (NYSE: AOC) has reported a net income of US$224 million during the fourth quarter of 2005, compared to $81 million over the same period in 2004.Fourth-quarter 2005 net income from continuing operations increased 97% to US$144 million, or $0.42 per share, compared to US$73 million or $0.22 per share a year ago.Net income […]
By Canadian Underwriter | February 10, 2006
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Royal & SunAlliance recently launched WARP Data Bridging, which aids brokers in the processing of auto and property policies. The new product is currently available to Royal & SunAlliance as well as Western Assurance brokers by way of the latest version of The Agency Manager (TAM) broker management system.According to Royal & SunAlliance, WARP Data […]
By Canadian Underwriter | February 7, 2006
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Sheldon Rankin, 69, former chairman and CEO of Marsh Canada, has been named chairman of Integro Canada Ltd.Rankin has 50 years of experience in the insurance industry. He progressed through the ranks of Marsh to become CEO and later chairman and CEO. Following his long tenure at Marsh, Rankin served as chief agent and CEO […]
By Canadian Underwriter | February 2, 2006
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Kanetix has launched a new French language travel insurance quote service, which will provide French Canadians access to French language quotes when they are travelling outside of the country.”Kanetix already offers online quotes in French for auto, property, life, and critical illness insurance,” Gregory Ellis, co-founder of kanetix, says. “So it only made sense to […]
By Canadian Underwriter | January 20, 2006
1 min read
John Sharoun has been promoted to the position of CEO of Crawford Adjusters Canada. He replaces Glenn Gibson, who was appointed CEO of Crawford’s Americas Region. Sharoun’s appointment is part of a realignment of Crawford’s global property and casualty services operations, the company announced in a press release.”John’s promotion to chief executive officer of Canada […]
By Canadian Underwriter | January 16, 2006
1 min read
Auto insurance rates may rise due to increasing injury claims costs which means the ICBC’s plans to keep basic rates frozen in 2006 will likely be abandoned, according to a recent warning from the provincial Crown corporation.”We’re seeing a deterioration in claims costs,” ICBC spokesman Doug McClelland said. “We need to take more time to […]
By Canadian Underwriter | January 4, 2006
2 min read