Articles

Keal Technology is making electronic document (eDoc) in Centre of the Study of Insurance Operations (CSIO) XML format available to insurers, effective May 14, 2012. Keal is presently working with CSIO and three insurers on the eDoc project and is welcoming other insurers to participate. Keal brokers will have the ability to download, via the CSIO EDI process, the requested policy documents and automatically attach them to activities and policies within their BMS sigXP, without any human intervention.

Intact Financial Corporation announced it has closed its bought deal offering of Subscription Receipts (the “Offering”) underwritten by a syndicate of underwriters co-led by CIBC World Markets Inc. and TD Securities Inc. and including RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Canaccord Genuity Corp., GMP Securities L.P., Cormark Securities Inc., Macquarie Capital Markets Canada Ltd. and Merrill Lynch Canada Inc. (the “Underwriters”). This resulted in gross proceeds (including the over-allotment option proceeds) to Intact of $237,195,000.

Making sure Lloyd’s becomes the major global hub for specialist insurance and reinsurance is at the heart of an ambitious new strategy. Called Vision 2025, the strategy was launched in the Lloyd’s building’s famous Underwriting Room at a special event attended by UK Prime Minister David Cameron.

A series of severe weather events across central and southern sections of the US caused upwards of US$1 billion in insured losses, according to Aon Benfield’s latest report published by Impact Forecasting. Economic losses were even higher.

State Farm has filed another lawsuit against several Toronto-area medical clinics for filing fraudulent claims. Those named in the suit include Global Rehab Clinics Ltd., Perfect General Contracting Corp., Queen’s Medical Assessment Centre Ltd., Princess Rehab Clinic Inc., Crown Diagnostic & Assessment Centre Inc., as well as Mohammad Aslam Bajwa and Gurjeet Singh.

EGI Financial Holdings Inc., a Canadian-based international specialty insurer, announced that it has acquired CUISA Managing General Agency (MGA) Corporation, a British Columbia specialty insurance operation. The transaction closed May 4, 2012.

A local state of emergency has been declared in West Kelowna after McDougall Creek punched through a dike in that Okanagan district late Wednesday night. Six properties along McDougall Creek have been evacuated and a news release from the District of West Kelowna says four homes were flooded and four more are at risk

The flood threat has eased – for now – in West Kelowna, allowing officials to lift a local state of emergency.The emergency was declared when part of a dike washed away along McDougall Creek, flooding three homes and forcing people in three other homes to leave as well.

Seventy-two days, 160 protests, hundreds arrested, multiple injuries, multimillion-dollar costs for law-enforcement – and zero solutions in sight. Those were the bleak numbers that emerged Thursday, April 26 from Montreal, the epicentre of a Quebec student-protest movement that has begun making international news.

US study finds increase of quakes since 2001 "almost certainly" result of oil and gas production.