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Cat losses not deterring reinsurance market slide: Benfield

January 19, 2005 by Canadian Underwriter

Despite a record level of catastrophe losses in 2004, reinsurers appear to be giving in somewhat to soft market pressures, according to a review of 2004/2005 renewals by broker Benfield.The report says that the most recent renewals saw increasing competition

News Insurance

10 keys to reducing personal injury claims costs: ISO

January 19, 2005 by Canadian Underwriter

Technology has a role to play in reducing personal injury claims costs, but only if specific criteria are taken into consideration. A new report by the U.S. Insurance Services Office (ISO) outlines 10 “critical factors” in reducing these costs.The first

News Insurance

Anthony Clark restates first-half 2004 results

January 19, 2005 by Canadian Underwriter

Following reassessment of its purchase of Vista, Calgary-based Anthony Clark International Insurance Brokers (TSX: ACL) has restated its half-year earnings for the period ending June 30, 2004. The company announced last November revised figures for the first quarter of 2004,

News InsuranceMergers and Aqcuisitions

What’s new: In brief (January 19, 2005)

January 19, 2005 by Canadian Underwriter

The Insurance Institute for Highway Safety (IIHS) says if police in all U.S. states were allowed to stop drivers not wearing a seatbelt, 700 lives per year would probably be saved. Currently only 21 states and the District of Columbia

News InsuranceMergers and Aqcuisitions

Ontario auto rates drop in 2004, but further savings to come in 2005

January 18, 2005 by Canadian Underwriter

According to rate approvals from the Financial Services Commission of Ontario, the average auto insurance rate dropped 10.6% over the course of 2004. But insurers say consumers in Ontario will see even more savings in 2005.FSCO calculates the average rate

News Climate ChangeInsurance

Government to invest $850,000 in B.C. tsunami warning system

January 18, 2005 by Canadian Underwriter

The Canadian government Tuesday said it would earmark $850,000 to help the B.C. provincial government beef up its tsunami warning system.Public Safety and Emergency Preparedness Canada (PSEPC) will set aside $350,000, while Indian and Northern Affairs Canada will kick in

News Insurance

Liability market softening slower than property: Willis

January 18, 2005 by Canadian Underwriter

In its “International Liability Market Review”, broker Willis says predictions that the liability market would see flat to declining pricing in the second half of 2004 were borne out. But the 10-15% declines in liability pricing paled in comparison to

News Insurance

What’s new: In brief (January 18, 2005)

January 18, 2005 by Canadian Underwriter

Alberta’s Agricultural Financial Services Corp. is giving out $2 million in premium rebates to about 7,400 farmers who purchased straight hail insurance in 2004. While 2004 was actually a high loss year for crops due to hail, past experience has

News Climate ChangeInsurance

ICLR to “take the stage” at Kobe conference

January 17, 2005 by Canadian Underwriter

Two researchers who work with the Institute for Catastrophic Loss Reduction (ICLR) will be heading this week to the World Conference on Disaster Reduction in Kobe, Japan.Dr. Gordon Bean and Dr. Slobodan Simonovic are set to present research to the

News InsuranceMergers and Aqcuisitions

MPI reports net income of $81.5 million for first three quarters of 2004

January 17, 2005 by Canadian Underwriter

Manitoba Public Insurance (MPI) says for the first nine months ending November 30, 2004, it pulled in net income of $81.5 million, more than double the $38.7 million reported in the first nine months a year prior.Premiums written were up

News Insurance

Loyalist working to meet TSX requirements

January 17, 2005 by Canadian Underwriter

Ontario-based Loyalist Insurance Group says it is working to meet requirements of the Toronto Stock Exchange as the company is to be reinstated on the TXS Venture Exchange later this week.The company had been delisted in November for failing to

News Insurance

What’s new: In brief (January 17, 2005)

January 17, 2005 by Canadian Underwriter

Toronto-based conglomerate Onex says it has sold its U.S. insurance brokerage operation, InsLogic. While the buyer was not disclosed, Onex says it received $22 million for the Tennessee-based provider of private-label brokerage services. InsLogic provides insurance services for auto manufacturers