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ICLR launches mobile Web site

September 7, 2011 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction (ICLR) has launched a new mobile Web site. The site is a “stripped down, simplified and easy to navigate version of the Institute’s main site,” an ICLR release says. The user simply plugs in…

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A.M. Best assigns ‘stable’ outlook to Canadian P&C industry

September 6, 2011 by Canadian Underwriter

A.M. Best is maintaining a stable outlook for the Canadian property and casualty industry based the industry’s strong risk-adjusted capitalization in 2010, stable investment income and the doubling of its comprehensive income between 2009 and 2010.But significant challenges for the…

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Hurricane Katia’s northeastern track curves away from U.S./Canada

September 6, 2011 by Canadian Underwriter

Hurricane Katia is tracking to curve substantially to the northeast, missing North America’s Atlantic Seabord almost altogether.The U.S. National Hurricane Center says Katia, now 590 km south-southwest of Bermuda, has recently weakened to a Category 3 hurricane with maximum sustained…

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Aran subsidiary, MiniCo, to offer specialty insurance programs in Canada

September 6, 2011 by Canadian Underwriter

Aran Insurance Services Group has announced that its property and casualty subsidiary, MiniCo Insurance Agency LLC, will offer specialty insurance programs in Canada through its new affiliate, MiniCo Insurance Agency of Canada Incorporated. MiniCo’s self-storage product line will be available…

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F-0 tornado tears through Quebec community

September 6, 2011 by Canadian Underwriter

An F-0 tornado touched down in Trois-Rivières, Quebec on Sept 4, damaging more than 70 homes, cbcnews.ca reported. The twister uprooted trees, shattered car windows and damaged roofs when it ripped through the Saint-Therese neighbourhood in the city just after…

News InsuranceMergers and Aqcuisitions

Forest fire forces evacuation of Okanagan Valley town

September 6, 2011 by Canadian Underwriter

A forest fire that broke out on Sept. 5 has forced the evacuation of 550 people near Kelowna, B.C., the Globe and Mail reports. The 20-hectare blaze started on the west side of Okanagan Lake and has forced the evacuation…

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Reinsurance pricing starting to stir: A.M. Best

September 6, 2011 by Canadian Underwriter

The reinsurance market is showing signs of stirring after years of soft pricing, weak investment returns and high catastrophe losses, A.M. Best reports.In its Special Report, ‘Reinsurers are Ready to Move as the Market Begins to Stir,’ A.M. Best suggests…

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Slow-moving storm in Gulf could be next billion-dollar disaster

September 2, 2011 by Canadian Underwriter

A slow-moving tropical storm brewing in the Gulf of Mexico could potentially become the next billion-dollar disaster for the United States, warns AccuWeather.com.Alex Sosnowski, Accuweather’s expert senior meteorologist, posted an article on the site describing the potential bruiser of a…

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MSA Research appoints new vice president

September 2, 2011 by Canadian Underwriter

Garreth Elston has been appointed vice president of analytics and corporate development of MSA Research Inc.Elston has more than 12 years of international capital markets experience in the investment management, strategy and research fields. He holds an MBA in finance…

News InsuranceMergers and Aqcuisitions

IBAO education seminar to review auto reforms

September 2, 2011 by Canadian Underwriter

One year into the Ontario auto insurance reforms, the Insurance Brokers Association of Ontario (IBAO) is holding a continuing education seminar to review the highlights and the challenges associated with the reforms.Entitled Auto Reform – A 12 Month Review, the…

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RBC reports profit increase in 2011 Q2, plans to ramp up establishment of new insurance offices

September 2, 2011 by Canadian Underwriter

Royal Bank of Canada (RBC)’s insurance segment reported a 2011 Q2 profit of $146 million, up $39 million (or 36%) over the same period last year.RBC attributed the increase to net investment gains and lower claims costs.In addition, an Aug.…

News Climate ChangeInsurance

Hurricane Katia to become a major hurricane as it approaches North America

September 1, 2011 by Canadian Underwriter

Hurricane Katia, the season’s second hurricane, is gradually approaching the southeast coast of North America as a Category 1 storm.The U.S. National Hurricane Center (NHC) predicts Katia will become a major hurricane by Sept. 3.For the moment, wind shear in…