Topic
Insurance
Traffic fatalities down in the US
March 16, 2010 by Canadian UnderwriterThe number of overall traffic fatalities reported in 2009 reached the lowest level since 1954, according to the U.S. Department of Transportation. The fatality rate declined to the lowest on record, to 1.16 fatalities per 100 million vehicle miles traveled…
SGI Canada and Policy Works partner-up
March 15, 2010 by Canadian UnderwriterPolicy Works has entered into an agreement with SGI Canada to deliver a commercial lines data exchange solution. The agreement integrates Policy Works’ commercial management system (CMS) and SGI’s underwriting system. The integration between SGI’s underwriting system and the Policy…
FirstOnSite Restoration announces national sponsorship of WICC
March 15, 2010 by Canadian UnderwriterFirstOnSite Restoration has selected the Women in Insurance Cancer Crusade (WICC) as its chosen charity for national sponsorship. FirstOnSite is WICC’s newest national sponsor at the platinum level, representing a commitment of Cdn$45,000 over three years.“As an organization we wanted to…
U.S. reinsurers report growth in 2009 net income: RAA
March 15, 2010 by Canadian UnderwriterA group of 19 US property and casualty reinsurers wrote $23.9 billion of net premiums in 2009 — flat compared to the prior year — according to a survey by the Reinsurance Association of America (RAA). Net income for the…
Brokers’ business results affected by changes in distribution: Keal
March 15, 2010 by Canadian UnderwriterSixty-seven per cent of brokers said that changes in distribution have affected their business results, according to a Keal Technology survey.Keal surveyed its broker-user base on issues that included carrier relations, changes in distribution and technology.The top four reasons cited…
Zurich reports 6% increase in 2009 net income
March 15, 2010 by Canadian UnderwriterZurich Financial Services Group reported a net income of $3.2 billion in 2009, marking a 6% increase from 2008’s net income of $3 billion.Its solvency ratio improved 38 points, to 198% last year from 2008’s 160%.Zurich’s general insurance unit saw…
Group disability benefits can be deducted from income replacement benefits: FSCO
March 12, 2010 by Canadian UnderwriterAn Ontario arbitration decision has once again raised a question about the deductibility of collateral benefits. This time a decision determined that long-term benefits received from a group disability insurance plan underwritten by Sun Life can be deducted from income…
BC regulator implements OSFI’s new stress testing guideline
March 12, 2010 by Canadian UnderwriterBritish Columbia’s regulator has adopted the Office of the Superintendent of Financial Institution (OSFI)’s guidelines for stress testing and dynamic capital adequacy tests (DCAT) for insurance companies.OSFI released Guideline E-18 in December 2009. The guideline outlines five areas that should…
Hannover Re reports increased profits in 2009
March 12, 2010 by Canadian UnderwriterHannover Re’s non-life reinsurance segment’s profit increased to EUR 472.6 million (Cdn$661.8) for 2009, compared to a loss of EUR 160.9 million (-Cdn$225.3) in 2008. In the wake of the heavy loss expenditures incurred in the previous year, stable prices…
United Way recognizes The Economical for going “above and beyond”
March 12, 2010 by Canadian UnderwriterThe United Way has named The Economical Insurance Group (TEIG) as a recipient of its Community Spirit Award.TEIG’s 2009 United Way campaign was one of its most successful campaigns to date — it raised just over $283,000 — including an…
Toronto-based brokerage insured two historic gold medal winners
March 12, 2010 by Canadian UnderwriterJones Brown Insurance Brokers and Consultants made history during the 2010 Olympic Games when it insured two Canadian gold medal winners.Alexandre Bilodeau won gold in the men’s moguls competition, becoming the first Canadian to win a gold Olympic medal on…
OVER 14,000 LBS OF CLOTHES & ACCESSORIES DONATED TO DRESS YOUR BEST FROM LOCAL INSURANCE INDUSTRY CLOTHING DRIVE
March 12, 2010 Canadian Underwriter magazineLocal insurance industry fashionistas purged their closets and together donated over 14,000 lbs (roughly 12,000 items) of gently used mens and womens business clothing and accessories. This is the 3rd industry clothing drive to benefit Dress Your Best and Dress…