Canada News

Allianz Launches Cyber Crime Coverage for Canadian Companies

Industrial insurance specialist Allianz Global Corporate & Specialty (AGCS) has launched Allianz Cyber Protect in Canada, a suite of coverages with capacity to protect a company in the event of a data loss or a cyber-security incident. Allianz Cyber Protect includes …

Allied World to Build Out Canadian Energy Market Property Coverage, Hires Two Vets to Lead

Allied World Assurance Company Holdings, AG has launched its property line for energy risks in the Canadian market with a new team of underwriters. The company launched its initial property & excess casualty offerings for Canada in May. The new …

Allied World Offers Casualty Lines for Canadian Market

Allied World Assurance Co. Holdings has launched an initial property /casualty offering in the Canadian market. Gord Kerr, senior vice president, chief agent and branch manager, will oversee the buildout of these lines and will be responsible for production, profitability …

Willis North America to Acquire Canadian Benefits Broker Avalon Actuarial

Willis North America, a unit of Willis Group Holdings, announced that it has entered into a definitive agreement to acquire the assets of Avalon Actuarial Inc., a Canadian employee benefits brokerage and actuarial consulting services firm. Avalon Actuarial was founded …

Hub International Acquires Canada Broker Huestis Commercial Insurance

Chicago-based Hub International Limited announced that it has acquired the shares of Huestis Commercial Insurance Ltd. (HCIL), a Saint John, New Brunswick, Canada-based insurance brokerage firm. Terms of the acquisition were not disclosed. Hub’s bulletin explained that “HCIL, which operates …

Finaccord Analyzes Prof. Indemnity Insurance in Australia, Canada, So. Africa

New research, conducted by market research consultants Finaccord, reveals that “competition among underwriters of professional indemnity insurance in Australia and Canada is at least as strong as in Europe’s more developed markets while South Africa is likely to provide growth …

Verisk Crime Analytics Launches Cargo Theft Prevention Systems in Canada

Verisk Crime Analytics has launched national information sharing systems designed to help Canadian insurers and their policyholders combat the growing problems of cargo and heavy equipment theft. Verisk Crime Analytics is a unit of Verisk Analytics, a source of information …

XL Group Names Fisher to Lead Canadian Reinsurance Operations

XL Group plc’s reinsurance operations in Bermuda announced the appointment of Tim Fisher as Senior Vice President & Canadian Branch Manager.   He reports to Managing Director & Head of Casualty Reinsurance in North America Christopher Buse, and is responsible …

IBC Estimates Alberta Wind, Thunderstorm Insured Losses over $100 Million*

The Insurance Bureau of Canada (IBC) reports that the estimated insured damage caused by the recent severe thunderstorm event that hit the Edmonton area in July amounts to more than $100 million.  The IBC noted that the estimate, “reported by …

ING Considering Sale of UK, Canadian Online Banks

The Netherlands-based group ING, which has been forced to sell assets in return for receiving state aid during the financial crisis, said it is considering the sale of its UK and Canadian online banking units, estimated to be worth about …