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White House mulled, then balked at curbing explosive gas on oil trains

Published March 05, 2015 - 1:01pm CST

(Reuters) — The Obama administration weighed national standards to control explosive gas in oil trains last year but rejected the move, deciding instead to leave new rules to North Dakota alone.

Canada to require more oil/rail insurance, special fund

Published February 20, 2015 - 11:22am CST

(Reuters) — Canada will boost the minimum insurance railways will have to carry when they haul crude oil, and an additional fund will be set up with levies on oil shipments to cover major disasters, under legislation to be introduced on Friday, two sources familiar with the bill said.

Lloyd's insurer Brit snapped up for $1.88 billion

Published February 17, 2015 - 9:02am CST

(Reuters) — Fairfax Financial Holdings Ltd., the Canadian property and casualty insurer run by contrarian investor Prem Watsa, said it would buy Brit P.L.C. for about $1.88 billion to become one of the top five underwriters on the Lloyd's of London market.

Swiss Re names president and CEO for Canada

By: Shelby Livingston

Published February 09, 2015 - 3:18pm CST

Swiss Re Ltd. has named Veronica Scotti as president and CEO of Swiss Re Canada, effective April 1, the firm said Monday in a statement.

XL offers excess professional liability follow-form policy in U.S., Canada

By: Shelby Livingston

Published January 21, 2015 - 3:39pm CST

XL Group P.L.C. has launched an excess professional liability follow-form policy in the United States and Canada.

Burns & Wilcox Canada acquires Avec Insurance Managers

By: Shelby Livingston

Published January 15, 2015 - 10:07am CST

Managing general agent Burns & Wilcox Canada Inc., a unit of Kaufman Financial Group, has acquired Toronto-based MGA Avec Insurance Managers Inc.

Proposed settlement of $200 million reached in Quebec rail explosion

By: Judy Greenwald

Published January 12, 2015 - 3:33pm CST

A proposed partial settlement of nearly $200 million has been reached in the 2013 Lac-Mégantic, Quebec, train derailment and explosion disaster, attorneys said.

CNA expands specialty insurance business into Canada

By: Shelby Livingston

Published January 05, 2015 - 2:35pm CST

CNA Financial Corp. on Monday said it has extended its management liability and professional liability coverage forms to Canada.

GM's recall of midsize pickup trucks affects 2,432 vehicles in U.S., Canada

Published December 05, 2014 - 1:29pm CST

(Reuters) — General Motors Co. on Friday disclosed that it recalled more than 2,400 of its new midsize pickup trucks in the United States and Canada to fix a previously announced air bag issue.

McDonald's recalls lollipop whistles over choking concerns

Published November 11, 2014 - 9:25am CST

(Reuters) — Fast food chain McDonald's Corp. is recalling about 2.5 million lollipop whistles because young children can choke on the parts, the Consumer Product Safety Commission said on Monday.

Canada tightens train handbrake rules, will impose 'audit blitz'

Published October 29, 2014 - 11:10am CST

(Reuters) — Canada will require railways to secure unattended trains with a minimum number of handbrakes and other physical defenses to prevent runaways, Canada’s transport ministry said on Wednesday in its latest response to last year’s deadly crash in Quebec.

Ford recalls 204,448 Ford and Lincoln crossovers for fire hazard

Published October 29, 2014 - 11:00am CST

(Reuters) — Ford Motor Co. said it will conduct a regional recall of 204,448 Ford Edge and Lincoln MKX crossover vehicles to correct an issue that could cause a fire.

Allied World profit drops; business segments to be reorganized

By: Mark A. Hofmann

Published October 23, 2014 - 11:49am CST

Third-quarter net income at Allied World Assurance Co. Holdings A.G. fell 74.8% from the prior-year period to $30.9 million as the Zug, Switzerland-based underwriter contended with increased catastrophe losses.

Chrysler recalls more than 900,000 vehicles globally in two actions

Published October 16, 2014 - 9:04am CST

(Reuters) — Chrysler Group on Thursday announced two global recalls of more than 900,000 cars and SUVs combined for problems that could cause fires.

Private equity firm acquires York Risk Services for $1.325B

By: Sheena Harrison

Published October 13, 2014 - 12:18pm CST

Toronto-based private equity firm Onex Corp. has closed on a deal to acquire third-party administrator York Risk Services Group Inc. for $1.325 billion, York said in a statement.

Canada condo boom rolls on as buildings fall apart

Published October 13, 2014 - 11:45am CST

(Reuters) — While Toronto's housing boom rolls on, some of the housing itself is falling apart.

AIG expands excess casualty liability cover for railroads

By: Stephanie Goldberg

Published October 09, 2014 - 2:19pm CST

With increased rail traffic and more cars carrying potentially hazardous materials American International Group Inc. has expanded its excess casualty liability limits for Class 1 railroads in the United States and Canada.

Willis Canada names next national partner and CEO

By: Mark A. Hofmann

Published October 07, 2014 - 1:37pm CST

Brian Parsons has been named national partner and CEO of Willis Canada, Willis Group Holdings P.L.C.’s Willis North America unit announced Tuesday.

Canadian company lays out defense case for its jailed CEO

Published October 06, 2014 - 10:51am CST

(Reuters) — Defense lawyers for a Canadian executive sentenced to 15 years prison in Cuba on bribery and other charges released a raft of documents on Sunday seeking to bolster their case that Cy Tokmakjian was denied a fair trial.

Canada may spread oil-by-rail insurance burden, mulls special fund

Published September 23, 2014 - 10:17am CST

(Reuters) — The Canadian government is looking at extending the insurance burden for crude-by-rail disasters beyond just railways and is weighing the idea of a special fund similar to one once set up for maritime oil spills, a government official said.

Marsh Canada acquires specialty construction broker

By: Matthew Lerner

Published September 03, 2014 - 11:06am CST

Marsh Canada, a subsidiary of Marsh L.L.C., has acquired Montreal-based Kocisko Insurance Brokers Inc., a commercial insurance brokerage serving the construction sector, Marsh said in a statement Wednesday.

Willis Re Canada adds two executives from Guy Carpenter

By: Kate Shepherd

Published August 28, 2014 - 11:36am CST

Willis Re Inc., the North American reinsurance operation of Willis Group Holdings P.L.C., on Thursday said it has hired two executives for its Toronto-based senior management team from Guy Carpenter & Co. L.L.C.

Jardine Lloyd Thompson Canada adds 2 executives to Calgary office

By: Kate Shepherd

Published August 22, 2014 - 12:52pm CST

Jardine Lloyd Thompson Canada Inc., a unit of Jardine Lloyd Thompson Group P.L.C., is adding two new members to its senior team in Calgary, Alberta.

Rail firm poorly audited before Canada disaster: Report

Published August 19, 2014 - 10:47am CST

(Reuters) — The Canadian government did not adequately audit the rail company at the center of last year’s Lac-Megantic oil-by-rail disaster in which 47 people died, the Transportation Safety Board of Canada said on Tuesday.

Allied World offers insurance for Canadian energy risks

By: Kate Shepherd

Published August 15, 2014 - 1:27pm CST

Allied World Assurance Co. Holdings A.G. has launched a property insurance line for energy risks in the Canadian market.

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