Topic
Insurance
OSFI praises Canadian P&C insurers for strengthening pricing in homeowners’ lines
September 20, 2010 by Canadian UnderwriterCanada’s property and casualty industry has started to make much-needed, across-the-board price corrections in homeowners’ lines, the Office of the Superintendent of Financial Institutions (OSFI) observed at the National Insurance Conference of Canada (NICC) in Montreal on Sept. 20.But the…
Low investment yields means little margin for error on underwriting side: OSFI
September 20, 2010 by Canadian UnderwriterExtremely low investment yields, the result of the financial crisis, means the Canadian property and casualty industry has very little margin for error on the underwriting side, Canada’s solvency regulator told delegates attending the National Insurance Conference of Canada (NICC)…
Reminding policyholders of their own morality may reduce temptation to commit insurance fraud: behavioural economist
September 20, 2010 by Canadian UnderwriterResearch on cheating relevant to insurance fraud indicates a lot of people cheating a little bit is much more costly to society than a few people who cheat a lot.But if insurers are willing to change their approach and remind…
OSFI and insurers working on updating Canadian earthquake guidelines
September 20, 2010 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) is now collaborating with Canada’s property and casualty industry to update Canada’s Earthquake Exposure Sound Practices Guideline, now 12 years old.The guideline establishes sound practices for the management and measurement of…
4 New September Issue Online Photo Gallery updates now live at canadianunderwriter.ca
September 20, 2010 Canadian Underwriter magazine4 New September Issue Online Photo Gallery updates now live at canadianunderwriter.ca 4 new industry event galleries have been added to the Online Photo Gallery at canadianunderwriter.ca and are featured in the September 2010 issue of Canadian Underwriter magazine. The…
MPI sponsors program designed to reduce crime
September 17, 2010 by Canadian UnderwriterThe Citizens on Patrol Program (COPP), sponsored by Manitoba Public Insurance, now has 60 active groups and 1,800 volunteers dedicated to reducing crime in their communities. Volunteers provided nearly 30,000 patrol hours last year in Manitoba, with two of the…
Jack Byrne to succeed Clements as Integro board chairman
September 17, 2010 by Canadian UnderwriterJohn (Jack) Byrne has been elected chairman of the board of Integro, succeeding Integro’s co-founder and chairman, the late Robert Clements.Early in his career, Byrne joined Travelers Insurance Company, and subsequently burnished his reputation with the turnaround of a struggling…
Hurricane Igor tracking to brush past and/or miss Newfoundland-Labrador
September 17, 2010 by Canadian UnderwriterHurricane Igor, currently a Category 3 storm with maximum sustained winds of 195 km-h, is tracking to brush by the southeast of Newfoundland-Labrador as of Sept. 21-22.The U.S. National Hurricane Centre shows Igor’s potential influence – shown in the form…
Cunningham Lindsey launches product liability specialty group
September 17, 2010 by Canadian UnderwriterCunningham Lindsey launched a global practice group specializing in product liability. The practice group’s core skills are product liability and recall investigation and management, a Cunningham Lindsey release says. The group is staffed with more than 6,800 adjusters more than…
RMS estimates up to $2.5 billion in insured damages resulting from New Zealand quake
September 17, 2010 by Canadian UnderwriterFollowing detailed analysis of property damage from the New Zealand earthquake, Risk Management Solutions (RMS), estimates total insured damages will range between NZD 2.1 billion ($1.5 billion) and NZD $3.5 billion ($2.5 billion).RMS estimates two-thirds of the total insured loss…
Homeowner policyholder satisfaction decreases in 2010: J.D. Power
September 16, 2010 by Canadian UnderwriterCanadian consumers aren’t as pleased with their home insurers as last year, citing a combination of premium increases and less-frequent communication with their insurers, reports J.D. Power and Associates.In its 2010 Canadian Home Insurance Customer Satisfaction Study, J.D. Power measures…
Private U.S. p&c insurers see surge in net income due to investment income
September 16, 2010 by Canadian UnderwriterPrivate U.S. property and casualty insurers’ net income surged to $16.5 billion in 2010 H1 from $6 billion in 2009 H1, reports Insurance Services Office Limited (ISO).Insurers’ net investment profit grew to $25.8 billion in 2010 H1 from $12.5 billion…