Weekly New Roundup: February 8-14, 2013
Applied Systems certifies 8 carriers for eDocs; WFG acquires Sask brokerage; appointments at JLT, RSA
On February 12, the Insurance Bureau of Canada (IBC) held a symposium in Toronto to explore whether usage-based insurance could help bring Ontario auto insurance under control. “It’s important the insurance industry takes a leadership role in areas such as reforming Ontario’s auto insurance product. It requires a vision for a system that works for the long-haul; one that isn’t in need of constant major reform to ensure affordable and available insurance,” said IBC president Don Forgeron. The symposium brought together insurers, regulators and technology experts to discuss issues including fairness, transparency and the best interests of consumers.
Ratings company A.M. Best has released a report on the 2013 outlook for US P&C insurers. Click here to read more.
Western Financial Group has acquired Melfort Agencies Ltd. of Melfort, Saskatchewan. The acquisition means that Western Financial Group will now have 23 locations in the province. Melfort’s principal Wes Moneta will stay on to manage the newly integrated office along with the rest of the staff.
Broker Management System (BMS) provider Applied Systems has now certified eight Canadian carriers for the Centre for Study of Insurance Operations (CSIO) eDoc XML standard for the transmission of electronic documents between insurance carriers and brokerages. The standard is supported in Applied Systems TAM 12 BMS and will be supported in Epic 7, which will launch in Canada and the US in early 2013. The eight carriers are: The Dominion; Germania Mutual; Gore Mutual; Intact Insurance; Kent & Essex Mutual Insurance Company; Peace Hills General Insurance; SGI CANADA Insurance Services and affiliates Coachman Insurance Company and The Insurance Company of Prince Edward Island; and Wawanesa Mutual Insurance Company.
Rogers Insurance Ltd. of Calgary has been named one of Alberta’s Top Employers for the seventh time since 2006, the year the designation was created. The annual competition is organized by the editors of Canada’s Top 100 Employers. The designation recognizes employers in Alberta from all industries who are leaders in offering exceptional places to work. Employers are evaluated on eight criteria including work atmosphere, social activities, benefits, training opportunities and skills development, performance management and community involvement.
Chubb has created a new loss prevention guide to help directors and officers prepare for litigation if their firm engages in a merger or acquisition. The 21-page guide, “Director Liability Loss Prevention in Mergers and Acquisitions,” includes recommendations on: having up-to-date strategic plans and long-term corporate strategies that will help them respond to a takeover offer and may serve as a valuable defense if the offer is rejected; when responding to a takeover proposal, creating a record demonstrating that they carefully and thoroughly considered relevant information regarding the proposed transaction. The guide was written by Dan A. Bailey, an attorney with the Columbus, Ohio, law firm Bailey Cavalieri LLC.
JLT Canada has appointed Leigh Mathews as chief operating officer, working out of the company’s Vancouver office. He will be responsible for improving business processes and operational efficiency, cost effectiveness and service delivery to clients and across the organization. Mathews was formerly COO for Aon Western Canada. JLT has also added Benjamin Wright as senior vice president and account executive to its professional and financial risks practice, working from the company’s Toronto office. Wright will be leading business development and client management in the financial institutions (FI) segment across Canada.
RSA Canada has appointed Paul Lucarelli to vice president of large commercial and specialty for the Ontario region. He will lead the large commercial and specialty and upper mid market business working closely with Bernard McNulty, vice president of large commercial and specialty underwriting, and Tony Hayes, vice president of sales and marketing.