Topic
Insurance
Earthquake in Chile could exceed $2 billion in insured losses
March 1, 2010 by Canadian UnderwriterAn 8.8-magnitude earthquake struck central Chile on Feb. 27, leaving behind more than $2 billion in insured losses, according to AIR Worldwide. Total economic damages are anticipated to be between $15 and $20 billion — roughly 10% to 15% of…
What’s New: In Brief (March 01, 2010)
March 1, 2010 by Canadian UnderwriterThe Co-operators has ultimately raised $298,270 for the Canadian Red Cross in support of the organization’s relief efforts for victims of the January 2010 earthquake in Haiti. A total of $149,135 was donated personally by Co-operators employees, agents and their…
Insurance industry a source of stability: Geneva Association
February 26, 2010 by Canadian UnderwriterSpecific features of the insurance business model make it a source of stability in the financial system, according to The Geneva Association, an international research organization supported by the insurance industry.For example, insurance is funded by up-front premiums, giving insurers…
Rising claims loss costs fueled by economy
February 26, 2010 by Canadian UnderwriterThe economy is a relevant factor in rising claims loss costs, according to property and casualty claims officers surveyed by Tower Watson.The poor economy seems to have stimulated third-party losses, and a number of survey respondents reported increases in general…
A stroke speculatively caused by an auto collision entitles victim to accident benefits: FSCO
February 26, 2010 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) has denied the appeal of an insurer that was ordered to pay auto insurance benefits to a man (now deceased) who suffered a stroke at about the same time he was involved in…
What’s New: In Brief (February 26, 2010)
February 26, 2010 by Canadian UnderwriterCanadian Imperial Bank of Commerce (CIBC) does not plan to establish standalone, insurance facilities of the type that Royal Bank of Canada is opening.In an interview with Bloomberg Business Week, CIBC CEO Gerald McCaughey is cited as saying CIBC won’t…
New Brunswick changes law to ban credit scoring in all classes of insurance
February 25, 2010 by Canadian UnderwriterNew Brunswick is amending its Insurance Act to prohibit the use of credit scoring for underwriting and rating practices in all classes of insurance.“Regulations will prohibit using credit scoring for underwriting and rating of property and casualty insurance, including automobile…
RSA Canada sees increased premium growth
February 25, 2010 by Canadian UnderwriterRSA Canada reported an underwriting profit in 2009 of $112 million, in spite of what the company described as tough economic conditions, a significant increase in weather losses and regulatory uncertainty in the auto market.Premiums increased to $1.8 billion, driven…
What’s New: In Brief (February 25, 2010)
February 25, 2010 by Canadian UnderwriterEighty-three per cent of British Columbians are concerned about fraud, and 95% have taken preventative steps to avoid becoming a victim, according to the TD Canada Trust Fraud Prevention Month Poll.Conducted by Angus Reid, the survey asked questions of 1,059…
Senior staff changes at Aviva Canada
February 25, 2010 by Canadian UnderwriterAviva Canada is continuing to recruit new members to its executive team, following the appointment earlier this year of Maurice Tulloch as its CEO.James Russell has been appointed as Aviva Canada’s chief underwriting officer. Russell has held several executive roles…
CG&B Group Inc. acquires Robertson & Robertson Yacht Insurance Ltd.
February 25, 2010 CG&B Group Inc.Toronto, ON February 25th, 2010 – The CG&B Group Inc. today announced the acquisition of Robertson & Robertson Yacht Insurance Ltd., a move which brings CG&B into the Yacht Insurance business and expands their current product and service line. A…
Quarter Century Club Announces 51st Annual Reception for March 31, 2010, Toronto
February 25, 2010 Canadian Underwriter magazineAnnouncing the Quarter Century Club 51st Annual Reception WEDNESDAY MARCH 31ST 2010Hilton International Toronto (Richmond Street at University Avenue) Featuring… The Roasting of Malcolm Mac Ross Reception: 12:00pmCost: $65.00 (Retirees $50.00) Send contact information and cheque or VISA information to:…