Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
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...
People – East
Apr 21 2014 // Jerry HourihanAmerican International Group (AIG) has named Jerry Hourihan as president of Private Client Group for the U.S. and Canada. He will report to Ralph Mucerino, CEO of Consumer Regional, Americas. Hourihan will be...
Kerr to Head New Allied World Canada Branch Office
Apr 16 2014 // Allied World Assurance Company Holdings, AG announced the opening of a branch office in Toronto, Ontario to further expand its North American insurance operations. Allied World appointed Gord Kerr as Senior Vice President,...
Canada Supreme Court Agrees to Hear Chevron in $9.1B Ecuador Case
Apr 4 2014 // The Supreme Court of Canada agreed on Thursday to hear an appeal by Chevron Corp. of a lower-court decision that said Ecuadorean villagers could pursue in Ontario their $9.51 billion lawsuit for pollution in the Amazon...
Canadian Pacific Backs Insurance Mandate for Firms Shipping Oil by Rail
Apr 4 2014 // Governments should require companies shipping crude oil by rail to carry enough liability insurance to make up for shortfalls in coverage carried by railways, the president of Canada’s second-largest rail operator...
Allianz Expands in Canada to Energy, Mining Markets
Apr 4 2014 // Allianz SE, Europe’s biggest insurer, is expanding in Canada, targeting protection for the energy and mining industries. The insurer, which offers corporate property and casualty coverage in Canada through brokers,...
Hourihan Named President of AIG Private Client Group, U.S. and Canada
Apr 1 2014 // Jerry Hourihan has been named president of American International Group’s (AIG) Private Client Group for the U.S. and Canada. He will report to Ralph Mucerino, CEO of Consumer Regional, Americas. Hourihan will be a...
