Canadian Underwriter

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Risk Management


Steve Pieroway, vice president, marketing and client services, Policy Works Inc.
Feature

Commercial Data Exchange

February 1, 2011 Steve Pieroway, vice president, marketing and client services, Policy Works Inc.

In the future, commercial insurers will increasingly be moving towards the ideal of a no-touch, straight-through data exchange with brokers.

Feature

ORIMS Christmas Luncheon (February 01, 2011)

February 1, 2011 by Canadian Underwriter

The Ontario Chapter of the Risk & Insurance Management Society (ORIMS) held its Christmas Luncheon on Dec. 16, 2010, at the Sheraton Centre Hotel in Toronto. More than 650 attended. In keeping with the spirit of giving, the ORIMS executive

News Climate ChangeInsuranceMergers and Aqcuisitions

Chubb Corporation estimates its Australian flood losses to be between $75 million and $100 million

January 31, 2011 by Canadian Underwriter

The Chubb Corporation [NYSE: CB] said its preliminary estimate of losses due to the floods in Australia would be in the range of $75 million to $100 million before tax. The company reported this estimate in its 2010 Q4 results,

News InsuranceMergers and Aqcuisitions

Crawford and North Waterloo Farmers Mutual launch Crawford’s Contractor Connection program

January 31, 2011 by Canadian Underwriter

Crawford & Company (Canada) Inc. and The North Waterloo Farmers Mutual have launched Crawford’s Contractor Connection program at North Waterloo. Contractor Connection provides insurers with a managed repair network for residential and commercial property claims programs in the Canadian insurance

News InsuranceLegal

B.C. Insurance Council announces new rule for placing coverage with unauthorized insurers

January 31, 2011 by Canadian Underwriter

A new rule outlining procedures that B.C. brokers must follow when placing coverage with an unauthorized insurer will take effect on Feb. 28, 2011. Section 76(1)(c) of the Financial Institutions Act in British Columbia provides a limited exemption from the

News InsuranceMergers and Aqcuisitions

Swiss Re advocates public-private partnerships to ease financial burden of disaster relief

January 28, 2011 by Canadian Underwriter

Swiss Re is advocating public-private partnerships between insurers and governments to help ease the financial burden of natural disasters on government budgets. The reinsurer notes the economic costs of natural catastrophes have risen from an average US$25 billion per annum

News Insurance

RMS fires back at report criticizing near-term hurricane models

January 28, 2011 by Canadian Underwriter

Risk Management Solutions Inc. (RMS) disagrees with a report by competitor Karen Clark & Company (KC&C) suggesting that near-term hurricane models are ineffective. KC&C had suggested near-term models, designed to project insured losses from Atlantic hurricanes in the United States

News InsuranceMergers and Aqcuisitions

Mutual Fire Insurance Company of British Columbia receives ‘A-‘ financial strength rating

January 28, 2011 by Canadian Underwriter

A.M. Best has assigned a financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of ‘a-‘ to The Mutual Fire Insurance Company of British Columbia. The outlook for the ratings is stable. “The ratings and outlook for Mutual Fire

News InsuranceMarkets / Coverages

Canadian marine lines continue to see softening in 2010 Q4: Marsh

January 27, 2011 by Canadian Underwriter

Most companies in Canada paid the same or less for their commercial marine insurance in 2010 Q4, a trend likely to continue into 2011, Marsh reported. Abundant capacity for all but the least attractive marine risks and the absence of

News InsuranceMergers and Aqcuisitions

Catastrophes in 1998, 2005, 2009 and 2010 cost insurers $3.8 billion: PCS-Canada

January 27, 2011 by Canadian Underwriter

PCS-Canada has reviewed the sum of all catastrophes in Canada from 1998, 2005, 2009 and 2010, and has determined that these events collectively cost the industry $3.8 billion, involving 850,000 insured properties. “These may be surprising numbers to the Canadian

News InsuranceMarkets / Coverages

Soft commercial market conditions poised to continue in 2011: Marsh Canada report

January 26, 2011 by Canadian Underwriter

Soft commercial insurance market conditions persisted throughout Canada in 2010 and are poised to continue into 2011, according to a comprehensive report published by Marsh Canada.“Key commercial insurance market drivers from 2009 -including intense competition among insurers, abundant capacity and

News Insurance

Newfoundland oil spill could have larger impact on wildlife than larger Gulf spill

January 26, 2011 by Canadian Underwriter

An oil spill off the coast of Newfoundland has the potential to have a far greater impact on the wildlife in the area than a larger spill in the Gulf of Mexico, Gail Fraser, associate professor at York University, told