Aegon NV, the bailed-out Dutch insurer, said on June 22 that it is looking to sell the life reinsurance arm of its U.S.-based subsidiary Transamerica and that it will restructure operations in Britain. Transamerica Reinsurance is the third-largest life reinsurer in the U.S., and 7th globally, according to company materials. It wrote $1.93 billion [...]
The Financial Services Commission of Ontario (FSCO) has made changes to Ontario Regulation 7/00: Unfair or Deceptive Acts or Practices (UDAP Regulation.) The amended UDAP Regulation takes effect September 1, 2010. The updated regulation addresses issues of affiliated insurers and their distribution methods. FSCO says: "an insurer is considered to be affiliated with another insurer [...]
View the video here on your mobile device. This Canada Day, take a moment to honour the beaver!
Kingsway Financial Services Inc. announced that it has acquired JBA Associates Inc. Financial terms of the deal were not immediately available. JBA specializes in assigned risk automobile insurance. Kingsway is focused on providing non-standard automobile insurance in the United States to drivers who don’t qualify for conventional insurance.
The Board of Directors of the Bank of Canada has announced the appointment of Agathe Côté as Deputy Governor of the Bank effective 30 July 2010. As Deputy Governor, Ms. Côté will join the Bank’s Governing Council, which is the policy-making body of the Bank. The Governing Council is responsible for monetary policy, policies aimed [...]
Willis Programs of New Hampshire, Inc., a unit of Willis Group and Barrie, Ontario’s Krause and Butt Insurance Brokers Limited have signed an agreement so the Canadian brokers can offer the RecycleGuard program exclusively in Ontario. A Willis press release says that RecycleGuard is the leading commercial insurance and risk management program in the recycling [...]
View the video here on your mobile device. Albertans can get a kick start to their careers with ILScorp’s Licensing Program – and for this week only, at a 10% discount. Save 10% on ILScorp’s Alberta Level 1 Licensing Program, or the Alberta Level 2 Licensing Program until July 6, 2010. You can also get [...]
Inspired by the longstanding community work of Manulife Financial employees and the financial advisors who represent the corporation, Manulife announced that it is making a major commitment to supporting volunteerism in Canada. "Millions of Canadians rely on Manulife to help them prepare for the future. But there is another future that we all have a [...]
Canada Day Jeopardy Answers 1) One of these Canadian Olympians received the bronze, silver, and gold medals, all for the same event, at the same games Beckie Scott Nancy Greene Ross Rebagliati Answer: Beckie Scott. Beckie originally won the bronze medal in the women’s 5-kilometre cross country ski event at the 2002 Winter Games in [...]
A new program being spearheaded by Microsoft Corp. is designed to provide a trusted way for researchers to report stolen credit card numbers and other data they’ve found in the dark corners of the Internet. Establishing that link is important because when a researcher finds stolen data, it can be hard to convince a [...]
Canadians’ average incomes changed little in 2008 from the year before after four years of growth, Statistics Canada reported. The federal agency found that the median after-tax income for families with two or more people was $63,900 that year, virtually unchanged from 2007. After-tax income also remained unchanged among singles, at $24,900. The data from [...]
If you’re about to warn your teenager about the dangers of texting or talking on the phone while driving, a new report suggests you look in the mirror first. A study released by The Pew Research Center’s Internet & American Life Project says adults and teenagers are equally likely to have texted while driving. And [...]
Mintel Comperemedia, a service that provides direct marketing competitive intelligence, reports that direct mail is on the rise. In Q1 2010, 6.1 billion direct mail pieces were received by US consumers, up from 5.3 billion in Q4 2009, representing a significant 16% increase. The insurance and credit card industries are the strongest drivers of this [...]
In response to June 23’s tornado touchdown in Midland, ON, Insurance Bureau of Canada (IBC) has deployed its Community Assistance Mobile Pavilion (CAMP) to help impacted residents. "Fortunately, early reports indicate there were no serious injuries as a result of the storm," said Ralph Palumbo, IBC’s Vice-President, Ontario, in a press release. "But the property [...]
Willis Re, the reinsurance arm of Willis Group Holdings plc announced the establishment of a new office in Toronto. The office will open September 1, 2010 and will complement Willis Group’s existing presence in Toronto. Willis also has offices in Montreal, Vancouver and Calgary. With the opening of the Toronto office, Robert M. Wildbore, currently [...]
View the video here on your mobile device. Narrator: It’s called Location Intelligence, a method of using inherent geographic properties to make informed decisions about customers, markets and services. DMTI Spatial specializes in location intelligence software which, according to their website, allows organizations to unlock business value by leveraging location content. It’s an enticing advantage, [...]
Willis North America, a unit of Willis Group Holdings, has formed a Distressed Assets Practice to advise clients on managing the risks associated with financially distressed, foreclosed or abandoned properties and to provide a range of insurance solutions. The new unit will be headed by Brian Ruane, National Real Estate and Hotel Practice Leader [...]
Intact Financial Corporation and the University of Waterloo are launching a new research project that will identify the most appropriate initiatives and action plans that governments, businesses and civil society could undertake to better adapt to the potential impacts and consequences of climate change on Canada’s ecological systems, its social fabric and the economy. Adaptation [...]
