Canadian Underwriter

Topic
Insurance


News Climate ChangeInsuranceMergers and Aqcuisitions

What’s new: In brief (June 23, 2004)

June 23, 2004 by Canadian Underwriter

Manitoba Public Insurance (MPI) has honored seven grade seven and eight students for projects on auto theft including stories, a video, a poster and a comic strip. “The typical auto thief will steal his or her first car at 13,”

News Insurance

U.S. insurers post US$13.5 billion first-quarter income: A.M. Best

June 23, 2004 by Canadian Underwriter

On the back of a rare underwriting gain in the first quarter of 2004, U.S. insurers are celebrating net income for the period of US$13.5 billion, according to data from A.M. Best.This compares with net income of US$6.8 billion posted

News Climate ChangeInsurance

Colorado storms expected to leave US$145 price tag

June 22, 2004 by Canadian Underwriter

Hailstorms which swept through the Denver area in early June should cost insurers more than US$145 million, predicts the Rocky Mountain Insurance Information Association (RMIIA).The storms struck June 8-9, bringing hail and severe weather to the state, including a tornado

News Insurance

What’s new: In brief (June 22, 2004)

June 22, 2004 by Canadian Underwriter

Statistics Canada’s Consumer Price Index (CPI) says homeowners’ insurance rates were up 12.5% in May compared to a year ago, partly as a result of renewals in Ontario. At the same time, homeowners’ replacement costs soared 6.5% on higher housing

News InsuranceMergers and Aqcuisitions

Rising interest rates should prolong hard market: Swiss Re

June 22, 2004 by Canadian Underwriter

Rising interest rates dampening investment results should prolong the hard insurance market through the end of 2005, Swiss Re experts said at the reinsurer’s “Mid-Year Economic and Insurance Industry Teleconference”. “We expect the next year to be good for corporate

News InsuranceMergers and Aqcuisitions

Alberta auto reforms get seal of approval

June 22, 2004 by Canadian Underwriter

Alberta’s auto reform plans have received the final stamp of approval from the provincial Cabinet, setting the launch date for October 1.A committee of legislators is being put together to ensure a smooth transition to the new system, which includes

News Insurance

Risk managers need elevated role to implement ERM

June 21, 2004 by Canadian Underwriter

Risk managers need to be positioned high enough in their organizations to effect enterprise-wide risk management (ERM) throughout the organizational structure, says a new position paper by the International Federation of Risk and Insurance Management Associations (IFRIMA).IFRIMA president Sue Meltzer,

News InsuranceMergers and Aqcuisitions

NF withdrawal still on the table for FA

June 21, 2004 by Canadian Underwriter

The Facility Association (FA) is not prepared to withdraw from Newfoundland yet, but that option is still very much on the table, following a special meeting of member insurers Monday.FA CEO David Simpson says members are “mindful that Bill-30 has

News Insurance

European reinsurers sticking to guns thus far in 2004

June 21, 2004 by Canadian Underwriter

Early results for 2004 show European reinsurers sticking to their guns on price, with premium income dropping but profits rising. In a new report from Benfield Group, the first-quarter results of Converium, SCOR, Munich Re and Hannover Re (the only

News Insurance

What’s new: In brief (June 21, 2004)

June 21, 2004 by Canadian Underwriter

AXA Re Group and its subsidiaries have seen their “A-” (excellent) financial strength rating affirmed by A.M. Best, with a stable outlook. The rating agency cites AXA Re’s improved operating performance as a result of tighter underwriting, as well as

News Insurance

What’s new: In brief (June 20, 2004)

June 20, 2004 by Canadian Underwriter

Anthony Clark International Insurance Brokers Ltd. has settled a previously disclosed lawsuit filed by James Bonfiglio claiming the company failed to honor a stock option agreement in October, 1998. In its 2003 yearend results, ACL reported a $515,000 judgement had

News Climate ChangeInsurance

TRIA extended one year

June 20, 2004 by Canadian Underwriter

Just as the U.S. Treasury Dept. confirms it will extend the Terrorism Risk Insurance Act (TRIA) to the end of 2005 at least, a new study shows insurance buyers are increasing purchasing the coverage.On Friday, Treasury Secretary John Snow confirmed