Canadian Underwriter

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Canadian operations contribute to Crawford success in Q4

January 25, 2002 by Canadian Underwriter

Adjuster Crawford’s Canadian operations are being called a “primary driver” in the growth of the company’s international operations. Overall, Crawford reports fourth quarter 2001 revenues increased 5%, to US$178.1 million, over the same period in 2000, and operating earnings up

News Insurance

ING-Zurich deal finalized

January 25, 2002 by Canadian Underwriter

A deal with sees Zurich North America Canada’s personal lines p&c book head to ING has been granted regulatory approval. The agreement, first announced in November, also sees the company’s forming an alliance in the commercial market, and able to

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Allianz Canada failure to meet targets results in downgrade

January 23, 2002 by Canadian Underwriter

Allianz Canada, and it subsidiary Trafalgar Insurance Company, have been downgraded by rating agency A.M. Best based on their failure to meet earnings targets. In lowering the Canadian companies’ financial strength rating to A (Excellent) from A++ (Superior), A.M. Best

News Insurance

U.K. extends airline insurance while Canadian deadline looms

January 22, 2002 by Canadian Underwriter

As the U.K. government decides to extend “war and terrorism” insurance coverage for its airlines until the end of March, the future of Canada’s airlines remains unknown. The U.K.’s former deadline of January 22 has been moved to March 20,

News Insurance

Dominion gets discount approved for “I Promise” program

January 18, 2002 by Canadian Underwriter

Dominion of Canada General Insurance has been successful in its bid to have a discount approved by Ontario’s insurance regulator for teen drivers in the “I Promise” Program.Domion CEO George Cooke, a staunch supporter of the program, had applied to

News Insurance

Lloyd’s releases proposal for new market structure

January 17, 2002 by Canadian Underwriter

In response to criticisms and years of poor results, Lloyd’s of London has released a series of proposed changes to “modernize” the 300-year-old insurance market. Among the changes being put before the ruling Council of Lloyd’s is the end of

News InsuranceMergers and Aqcuisitions

IBC makes pitch for Ontario health care reform

January 17, 2002 by Canadian Underwriter

The Insurance Bureau of Canada is calling for changes to the way insurers and rehabilitation service providers deal with each other, in light of the growing cost of auto-related injuries to the industry. In a submission to the Ontario Ministry

News Insurance

Scor & RSA see ratings downgraded in the wake of poor Q-4 results

January 16, 2002 by Canadian Underwriter

Two global giants have seen their ratings downgraded as a result of poor financial results in the fourth quarter of 2001. A.M. Best has downgraded Scor Re from A+ (Superior) to A (Excellent), a grading that also applies to Scor

News Insurance

September 11 lawsuits in the works

January 16, 2002 by Canadian Underwriter

Families of victims of the September 11 terrorist attacks have begun to file suit against the airlines involved. An earlier suit had been filed against United Airlines by one family of a passenger aboard the flight that struck World Trade

News Insurance

MPI income drops due to claims cost and investment slump

January 15, 2002 by Canadian Underwriter

Manitoba’s public insurer is feeling the crunch, with poor investment returns and higher than expected claims costs leading to an almost 85% drop in income for the first three quarters of 2001.For the nine months ending November 30, 2001, Manitoba

News Insurance

Lloyd’s syndicates and names fewer for 2002

January 14, 2002 by Canadian Underwriter

Lloyd’s of London will have fewer Names, or individual investors, as well as syndicates for the coming year. This comes despite a rise in investment in the insurance market, in response to hardening rates for 2002.The number of syndicates has

News Insurance

New York’s decision on terror exclusions presents coverage withdrawal

January 10, 2002 by Canadian Underwriter

The recent rejection by The New York Department of Insurance (DOI) of terrorism exclusion wordings compiled on behalf of insurers by the Insurance Services Office (ISO) could lead to a significant withdrawal of commercial cover at a time when the