Recent Articles
The holiday news schedule (or: The long weekend is here!)
Monday’s a holiday for most of us in Canada (check out this video to find out why) which means it’s the second long weekend of the summer! It means festivals and outdoor concerts, camping and canoeing and relaxing – ah yes, the relaxing. It also means that we won’t be in on Monday, which means [...]
Richest provinces see smallest net worth increases
Canada’s richest provinces saw the smallest increases in household net worth last year, as real estate values in some of the country’s major markets declined. British Columbia and Alberta posted the smallest increases in net worth by far, with gains of 2.8 per cent and 2.5 per cent respectively, according to a survey by WealthScapes [...]
ICBC’s tips for summer road trips
Summer: long weekends, longer days, BBQs and road trips. They all go hand-in-hand. ICBC has issued a tip list for safe summer road trips. The provincial insurer says that in British Columbia, in July and August, over the years 2005 to 2009, there is an average of 1,232 crashes and 361 injured victims on B.C. [...]
Aon Benfield launches new real-time catastrophe risk management tool
Reinsurer and capital advisor Aon Benfield has launched ImpactOnDemand, a new generation of its risk management tools which allow insurers to visualize, quantify and connect their exposures to catastrophic events. Insurers can upload their most current portfolios for viewing and analysis at any time. ImpactOnDemand combines the functionality of Aon Benfield’s ExposureView and CatPortal solutions [...]
Citigroup paying $75M to settle charges of misleading investors over mortgages
Banking titan Citigroup Inc. is paying US$75 million to settle civil charges that it misled investors about its potential losses from subprime mortgages as the housing bust hit in 2007. The Securities and Exchange Commission announced the settlement with Citigroup on Thursday. It says the company repeatedly made misleading statements in calls with analysts and [...]
Ryanair’s net profit falls over business lost to volcanic ash, higher fuel costs
Irish budget airline Ryanair reported a 24 per cent drop in first-quarter net profit, citing C50 million (US$65 million) in lost business from the Icelandic volcano as well as a rising fuel bill – but the carrier says it remains poised to keep expanding. Net profit for the April-June quarter fell to C93.7 million ($121.8 [...]
Market sources say Catlin leads insurance coverage of Pakistan plane crash
On Wednesday, July 28, an Airbus A321 jet crashed near the Pakistan capital of Islamabad. The jet, carrying 152 passengers and crew, was en route from Karachi, Pakistan to Islamabad. All on board were killed. Business Insurance magazine is reporting that Bermuda-based Catlin confirmed that it is the lead underwriter, but the source could not [...]
Ontario toughens license rules for young drivers
The Ontario government has introduced new changes that it says will make the province’s roads safer. The changes mostly apply to young drivers and those in the Graduated Licensing System. Starting August 1: All drivers 21 years of age and younger must have a zero blood alcohol level when they get behind the wheel or [...]
The Co-operators wins advertising awards
The Co-operators recently received three awards at the 52nd annual Insurance Marketing & Communications Association (IMCA) 2010 Showcase Awards, held June 27-30 in Atlanta, Georgia. The organization won a Best of Show Award in the category of Print Product or Image Advertising – In-House B2C Marketing for its RESP printed marketing material. It also earned [...]
Homeowners are more financially fit
Homeowners are in the best shape when it comes to financial fitness in Canada. Sixty five per cent of homeowners pay off their credit card balances each month (vs. 48 per cent of non-homeowners). Furthermore, a quarter of those homeowners with mortgages have managed to make a lump sum payment or accelerate their mortgage payments [...]
