Canadian Underwriter

Topic
Insurance


News Insurance

Insurer groups oppose asbestos bill

April 24, 2005 by Canadian Underwriter

U.S. insurers groups have come out strongly opposed to a Senate bill to establish a US$140 billion fund for resolving asbestos claims.While insurers have worked with legislators towards a resolution to the multi-billion-dollar asbestos litigation crisis, they say the bill

News Insurance

Shumka Craig & Moore acquires Newfoundland adjusting chain

April 21, 2005 by Canadian Underwriter

National adjusting firm Shumka Craig & Moore says it has acquired Provincial Adjusting Services (PAS), a chain of six offices in Newfoundland and Labrador.PAS has been in operation since 1984, and current president Wayne Guy will remain to oversee the

News Insurance

Commercial buyers report pricing rebound

April 21, 2005 by Canadian Underwriter

Commercial insurance buyers in the U.S. and Canada are reporting pricing rebounds and stabilization in the first quarter of 2005, according to benchmark survey results published by the Risk & Insurance Management Society (RIMS) and Advisen.While 2004 represented a year-long

News InsuranceMergers and Aqcuisitions

What’s new: In brief (April 21, 2005)

April 21, 2005 by Canadian Underwriter

Fitch Ratings has revised the outlook on Gen Re parent Berkshire Hathaway to negative, but says General Re’s own rating is stable. The “AAA” rating on Berkshire Hathaway is in doubt based on what the rater calls “key person risk”

News InsuranceMergers and Aqcuisitions

Premiums falling in Ontario and Alberta, but not for the same reason

April 21, 2005 by Canadian Underwriter

Auto insurance rates are dropping in Ontario, and will soon fall further in Alberta, but for two very different reasons. While insurers have filed for rate reductions in Ontario amounting to a further 1.12% decrease in the first quarter of

News Insurance

U.S. study shows shrinking broker margins

April 20, 2005 by Canadian Underwriter

A study based on the revenue performance of the top U.S. insurance brokerages suggests that the sector’s earnings growth has been severely impacted by premium rate stabilization, increased competition and the clampdown on contingent commissions that followed in wake of

News Insurance

Arch officially enters Canadian market

April 20, 2005 by Canadian Underwriter

Arch Insurance Group has entered the Canadian market with the launch of branch office Arch Insurance (Canada). The official announcement was made today at the Risk and Insurance Management Society (RIMS) Conference in Philadelphia.Arch Canada will offer a range of

News Climate ChangeInsurance

Terrorism risk on the rise: Aon

April 20, 2005 by Canadian Underwriter

Terrorism risk is on the rise around the world, with increased exposure seen in many countries, according to the “2005 Terrorism Risk Map” released by Aon.In total, 31 countries have received higher terrorism threat rankings than last year, with 48%

News Insurance

Lloyd’s underwriters see pricing as top client concern

April 20, 2005 by Canadian Underwriter

Underwriters at Lloyd’s say pricing is the top buyer concern, not the current investigations into broker contingent commissions and other industry practices.In a survey taken by Lloyd’s of its member underwriters, 84% see pricing as the main issue on clients’

News Insurance

Canadian insurers’ earnings likely to diminish

April 19, 2005 by Canadian Underwriter

While 2004 was the best year of the hard market cycle in terms of company financial returns, the year ahead will likely see deteriorating results as lower pricing and rising claims costs eat at the industry’s bottom-line, predicts George Cooke,

News Insurance

Risk managers need to take control of compensation issue: RIMS president

April 19, 2005 by Canadian Underwriter

Risk managers need to take the reigns and address their own concerns regarding broker compensation,the new president of the Risk & Insurance Management Society (RIMS) told members Tuesday.As part of the keynote panel discussion at RIMS’ annual conference in Philadelphia,

News Insurance

St. Paul Travelers expands Canadian presence

April 19, 2005 by Canadian Underwriter

St. Paul Travelers is expanding its Canadian operations with the addition of a new “national programs” unit based in Toronto.The new unit follows on the heels of an oil and gas unit created last year and based in Calgary. And