Topic
Climate Change
Crawford Adjusters Canada announces appointments
June 28, 2006 by Canadian UnderwriterCrawford Adjusters Canada has appointed Bill Johnstone vice president, Greater Toronto Area (GTA) Region.The company described the promotion in a press release as “part of a larger realignment of Crawford’s operating divisions across Ontario.”Crawford has restructured its Ontario market into…
Swiss Re anticpates improvement in p&c market
June 28, 2006 by Canadian UnderwriterThe insurance industry posted solid profits in 2005 despite record losses, according to comments made by Swiss Re’s senior economist Thomas Holzheu during the company’s mid-year Economic and Insurance Industry teleconference.Regarding the property and casualty insurance business, Holzheu says that…
Task force asked to looked into terrorism insurance concerns
June 27, 2006 by Canadian UnderwriterThe US federal anti-terrorism task force has been put on the spot to research terrorism insurance concerns prior to issuing its terrorism insurance market report due for release later this year.Under the terms of the 2005 Terrorism Risk Insurance Extension…
In remembrance: Moody, a leader of women in insurance
June 27, 2006 by Canadian UnderwriterMaggie Moody, 59, a long-time member of the Toronto Insurance Women’s Association (TIWA) and the Canadian Association of Insurance Women (CAIW), passed away suddenly on June 16.A long-time employee of Marsh Canada, Moody has served as president for both TIWA…
Death and injury rates decrease under graduated licensing
June 22, 2006 by Canadian UnderwriterThe Graduated Driver License Law appears to result in lower death and injury rates for teen drivers, with the median age being 16-years old, according to a study by the AAA Foundation for Traffic Safety. Death and injury crashes for…
Most U.S. cities still unprepared for disasters
June 21, 2006 by Canadian UnderwriterFive years after 9-11 and nearly a year after Hurricane Katrina most of the United States remains unprepared to deal with a major disaster, according to the U.S. Department of Homeland Security (DHS).U.S. insurers appear to be looking at ways…
Insurers’ use of capital models increasing: Moody’s
June 21, 2006 by Canadian UnderwriterThe use of economic capital models by insurers has grown significantly in recent years and will play an increasingly important role in the rating of such companies, according to a report by Moody’s Investors Service.“Although banks have led the way…
Many Canadians find insurance “difficult to understand”
June 21, 2006 by Canadian UnderwriterAccording to a recent study conducted for The Co-operators, 66% of Canadians find insurance “difficult to understand,” and 63% are “unsure how premiums are calculated.” “The findings are troubling, because insurance is an important financial planning tool and part of…
U.S. insurance CEOs worry about pricing, capacity
June 20, 2006 by Canadian UnderwriterProperty and catastrophe capacity, especially in U.S. areas highly prone to losses, was high on the list of concerns for panelists from the property and casualty (P/C) industry at Standard & Poor’s Ratings Services’ recent annual insurance conference, “Insurance 2006:…
FSCO outlines caps for auto insurer payments to health providers
June 19, 2006 by Canadian UnderwriterThe Financial Services Commission of Ontario has issued new guidelines for the maximum expenses payable by automobile insurers under the SABS related to the services of health care professions or health care providers.The maximums apply to services rendered on or…
Benfield warns of 2007 capacity squeeze
June 16, 2006 by Canadian UnderwriterBermuda reinsurers have forecast that rates will continue to harden through the year and a capacity squeeze could even spread beyond the Florida market into other territories in 2007.Increased demand, revised catastrophe models and more stringent capital constraints continue to…
AIG verifies break-in
June 15, 2006 by Canadian UnderwriterAmerican International Group Inc. recently confirmed that on March 31 the company suffered a break-in during which computer equipment containing personal information on approximately 930,000 individuals was stolen from a Medical Excess L.L.C. unit office in Midwest US.The data is…