Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Canada Transport Board Welcomes U.S. Oil-by-Rail Ideas; Warns Dangers Remain
Jul 25 2014 // The Transportation Safety Board of Canada on Thursday welcomed proposed U.S. regulations for oil-by-rail tankers, but cautioned of the persistent danger until tank cars built before 2011 stop carrying oil and other...
Train Crash in Wisconsin Injures 2, Spills Oil
Jul 22 2014 // A Canadian National Railway Co. train struck another freight train as it rolled through a small village in Wisconsin, causing cars to derail, injuring two people and spilling thousands of gallons of diesel oil that...
Canada’s Onex to Buy York Risk Services for $1.3 Billion
Jul 16 2014 // Onex Corp., Canada’s largest buyout firm, agreed to buy York Risk Services Group Inc. from ABRY Partners LLC in a deal valued at $1.33 billion, boosting its insurance business. York Risk Services provides risk...
Allied World Adds Excess D&O to Product Offerings in Canada
Jul 11 2014 // Swiss-based Allied World Assurance Company Holdings, AG announced that it has added Excess D&O coverage to its existing management liability product suite in the Canadian market. The announcement said the “Excess...
Hub International Acquires Canadian Broker Gibson Insurance
Jul 9 2014 // Hub International Limited announced that it has acquired the shares of Gibson’s Insurance Agency Ltd., a Manitoba Canada-based insurance brokerage. Terms of the acquisition were not disclosed. The announcement said...
Canadian Farm Flooding Seen Increasing Claims for Crop Insurance
Jul 3 2014 // Saskatchewan, Canada’s biggest producer of wheat and canola, expects insurance payouts on crops to increase after floods wiped out acreage. “It’s a very large area that’s impacted, so we expect to...
Ironshore Canada Enters Commercial Property Market for Sector Specific Risks
Jun 17 2014 // Bermuda-based Ironshore Canada has announced its entry into the Commercial Property Market with capacity that enhances its existing suite of specialty products available in the Canadian region. “Ironshore Canada has...
CN Rail Sees U.S. Banning Older Rail Tank Cars for Oil in 3-5 Years
May 30 2014 // Canadian National Railway Chief Executive Claude Mongeau said on Thursday he expects U.S. regulators to phase out use of DOT-111 tank cars in three to five years, following a deadly explosion in Quebec last year. Mongeau...
Ratings Recap: Dominion, Ardellis, NAGICO, JRG Re
May 27 2014 // A.M. Best has assigned a financial strength rating (FSR) of ‘A’ (Excellent) and issuer credit rating (ICR) of “a” to The Dominion of Canada General Insurance Company, based in Toronto, Ontario,...
RSA to Sell Canada Broker Unit Noraxis to A.J. Gallagher for $460 Million
May 20 2014 // The UK’s RSA Insurance Group Plc said on Monday it had reached agreement to sell its majority-owned Canadian brokerage business – Noraxis Capital Corp. – to U.S. insurance broker Arthur J. Gallagher &...
Canada Imposes ‘Absolute Liability’ Rules on Pipeline Spills
May 16 2014 // Canada unveiled new rules on Wednesday to enhance pipeline safety and spill response, ahead of the development of new projects proposed to carry crude from Alberta’s oil sands to coastal ports for export. The new...
Allied World Offers Casualty Lines for Canadian Market
May 14 2014 // 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...
‘Degassing’ North Dakota Crude Oil Before Shipping Among Safety Ideas
May 14 2014 // After a spate of fiery derailments, the scramble to make North Dakota’s Bakken crude oil safer when it’s being transported on trains has focused on better tracks, slower speeds, and reinforced railcars that...
AIG Fined for Violating Cuba Sanctions
May 8 2014 // American International Group Inc. sold coverage to clients with ties to Cuba, a nation sanctioned by the U.S., when the insurer was owned by American taxpayers after its 2008 bailout. The insurer agreed to a $279,038...
CSX Oil Tank Cars Derail, Catch Fire in Lynchburg, Virginia
May 1 2014 // A CSX Corp. crude train derailed in Lynchburg, Virginia, Wednesday, sparking a fire in at least three tank cars, spilling oil into a river and forcing a partial evacuation of the city’s downtown. No injuries were...
Allied World No. Am. Launches ‘ForceField’ Product Suite in Canada
Apr 30 2014 // Allied World Assurance Company Holdings, AG announced today the launch of its ForceField management liability product suite in the Canadian market. ForceField offers five coverage components including: Directors &...
Supply Chain, Data Breach, Political Unrest Top Overseas Risks for Businesses: Chubb
Apr 29 2014 // As U.S. and Canadian businesses plan to expand their business overseas this year, their executives are worried about supply chain failures, data breaches and political instability, according to a survey by the Chubb Group...
Safety Board Says Rail Oil Tanker Rules Should Be Put on Washington Fast Track
Apr 25 2014 // Spurred by a series of fiery train crashes, a push by government and industry to make safer tank cars used for shipping crude oil and ethanol has bogged down in squabbling and finger-pointing over whether they’re...
Powerful Earthquake Strikes off Vancouver Island Coast: AIR Analysis
Apr 25 2014 // Catastrophe modeling firm AIR Worldwide, has issued a report on the powerful M6.6 earthquake that struck off the coast of Canada’s Vancouver Island at about 3:10 a.m. UTC (8:10 p.m. local time) a at a depth of 11.4...
Genworth Financial to Raise as Much as $700 Million in Australia Offer
Apr 23 2014 // Genworth Financial Inc. plans to raise as much as $700 million by selling a minority stake in its Australian mortgage guarantor, in what may be the biggest share sale in the country for more than three years. The seller of...
