Latest Canada Headlines
All the headlines from our Canada Topic Page, ordered by recency.
Ironshore Canada, IronPro Division Appoint M&A Execs
Apr 1 2014 // Ironshore Canada Ltd. has announced the appointments of key executives within its Mergers & Acquisitions division and for IronPro, the professional and management liability unit of Ironshore Inc. Ironshore named Andrew...
Canadian National Rail to Phase Out Older Oil Tank Cars over 4 Years
Mar 26 2014 // Canadian National Railway Co. will phase out its fleet of 183 older tank rail cars used to transport diesel fuel over the next four years, as it works to improve safety following a string of industry accidents involving...
Flashback: Key P/C Insurance Mergers and Acquisitions of 2013
Mar 24 2014 // Compared to some previous years, there were not a lot of mergers in the property/casualty carrier space in 2013 but there were some interesting ones. Major carrier transactions included specialty insurer Markel’s...
Canada Pension Plan Board to Buy Wilton Re for $1.8 Billion
Mar 21 2014 // The Canada Pension Plan Investment Board (CPPIB) announced that it has agreed to buy U.S. life insurance and reinsurance provider Wilton Re Holdings Ltd for $1.8 billion from a group of private equity firms, the first...
Energi Develops First Canadian Energy Savings Warranty
Mar 20 2014 // Energi, a Massachusetts-based industrial reinsurance company, which provides risk management and insurance programs for the energy industry, announced that it will provide an Energy Savings Warranty (ESW) for the Toronto...
Canada’s UNDZ Underwear Offers Buyers Insurance for ‘Prized Private Part’
Mar 13 2014 // Canadian underwear brand UNDZ has announced that as of March 15 it has arranged to provide a “$50,000 insurance policy to protect its customers’ most prized asset” – in simpler terms it’s offering...
RSA’s CEO Hester Taps Buffett for Reinsurance; Confirms Share Sale
Feb 28 2014 // After less than a month on the job, RSA Insurance Group Plc Chief Executive Officer Stephen Hester announced a stock sale and tapped Warren Buffett for reinsurance to help strengthen the insurer after its scandal in...
Brokers Missing Out on Big Opportunities in Trade Credit Insurance Market
Feb 21 2014 // Agents and brokers who are not selling trade credit insurance – also known as receivables insurance – are missing huge opportunities but also opening themselves up to errors and omission (E&O) exposures, according...
Canadian Pacific Follows CN; Will Impose Surcharge on Older Oil Tank Cars
Feb 18 2014 // Canadian Pacific Railway Ltd is slapping a surcharge on customers who transport crude in older tank cars, following its larger rival in seeking to deter shippers from using the model involved in a series of fiery...
Global 2013 Cat Losses at $40 Billion Were ‘Below Average’ – Guy Carpenter
Feb 13 2014 // Guy Carpenter & Company, LLC, the leading global risk and reinsurance specialist and member of Marsh & McLennan Companies, 2013 Catastrophe Review concludes that “natural catastrophes and man-made disasters...
Canadian National Railway Raises Rates for Using Older Oil Tank Cars
Feb 13 2014 // Canadian National Railway is charging shippers more to transport crude oil in older tank cars, one of the first signs that rail operators are actively discouraging use of the type of cars involved in several dramatic...
Pak to Head Starr Companies Newly Approved Canada Branch
Feb 3 2014 // Starr Companies announced that it has received a Federal Order from the Office of the Superintendent of Financial Institutions in Canada (OSFI) approving Starr Insurance & Reinsurance Limited, and that it has...
Canadian Oil Train Derails, Spills in Mississippi
Feb 2 2014 // A Canadian National Railway Co. train carrying fuel oil and other hazardous materials derailed and was leaking in southeast Mississippi on Friday, forcing the evacuation of nearby residents, officials said. No one was...
Oil Train Catastrophe Risk Weighs on Insurers: Kemp
Jan 28 2014 // In the event of a mass-casualty accident involving the derailment of a crude-carrying train in a densely populated urban area, who would be responsible for the compensation for deaths, injuries, damage to property and...
U.S., Canada Officials Say Tougher Oil Train Safety Rules Needed
Jan 27 2014 // Warning that a “major loss of life” could result from an accident involving the increasing use of trains to transport large amounts of crude oil, U.S. and Canadian accident investigators urged their governments...
Canada, U.S. Safety Agencies Urge Fast Action on Oil-by-Rail Cars
Jan 24 2014 // North American regulators should phase out the type of rail car involved in last July’s deadly Lac-Megantic crash “sooner rather than later,” Canadian investigators said on Thursday, urging the United...
State Farm Canada Selling Insurance, Mutual Fund Businesses to Desjardins Group
Jan 16 2014 // Desjardins Group, a leading cooperative financial group in Canada, has agreed to purchase State Farm Canada’s property/casualty and life insurance businesses, as well as its Canadian mutual fund, loan and living...
Pressure Mounts to Improve Oil-Rail Safety; Older Tank Cars in Canada Crash
Jan 10 2014 // Political pressure to quickly improve the safety of crude oil rail shipments intensified in Washington on Thursday, while Canadian officials said two of the cars involved in the latest fiery derailment were of an older...
Zurich No. Am. Names Kleiman as Canada VP, Regional-Commercial
Jan 10 2014 // Zurich North America announced the appointment of Dan Kleiman as Vice President & Regional Leader, Canada Commercial, effective January 1.He “oversees the nearly 100 market-facing underwriters and underwriting...
