Canadian Underwriter

Topic
Insurance


News InsuranceMergers and Aqcuisitions

IBC and policy group at odds on B.C. insurance future

October 11, 2001 by Canadian Underwriter

A new study released by the Canadian Center for Policy Alternatives (CCPA) suggests privatizing British Columbia’s auto insurance system will be bad for consumers. “Allowing private firms to compete with ICBC in the provision of basic auto insurance will almost

News Insurance

RSA ups WTC loss estimate by one-third

October 11, 2001 by Canadian Underwriter

U.K.-based Royal & SunAlliance has increased its estimate of losses from the terrorist attacks on America to 200 million pounds (US$290 million) pretax, up from an earlier estimate of 150 million pounds.The company reports that while aviation and property losses

News Insurance

U.S. insurance groups look for temporary reinsurance solution for terrorism

October 10, 2001 by Canadian Underwriter

Chicago-based The National Association of Independent Insurers (NAII) has released a proposal which it believes offers the best short-term solution to insurers in the wake of the reduction in reinsurance cover for terrorism exposures. NAII says it will continue to

News Insurance

Zurich doubles WTC loss estimate

October 9, 2001 by Canadian Underwriter

Almost a month after the terrorist attacks on the World Trade Center (WTC) and Pentagon, Zurich Financial Services Group is doubling its loss estimate. The company now says pretax losses could reach between US$700 million and $900 million, although on

News Insurance

Lloyd’s names win right to appeal fraud charge

October 9, 2001 by Canadian Underwriter

A group of 220 Lloyd’s investors (names) have another chance to make their case for fraud against the 300-year-old insurance market. The charges, which were put down by the U.K. Commercial Court late last year, stem from asbestosis claims of

News Insurance

Auto insurance up for reform in Newfoundland

October 5, 2001 by Canadian Underwriter

The Newfoundland government is putting auto insurance reform on the table, releasing a discussion paper that proposes restrictions on the ability to make claims for pain and suffering as a result of minor accidents. Medical and financial claims would remain

News Insurance

Future of airline insurance up for discussion

October 5, 2001 by Canadian Underwriter

The future of aviation insurance, as well as airport and air navigation facility coverage, are the subject of debate and speculation since the September 11 terrorist attacks. The National Post reports Canadian Transport Minister David Collonette says the government could

News Insurance

IBAC and Member Associations Launch Insurance Brokers’ Appeal for The Salvation Army’s U.S. Disaster Fund

October 5, 2001 by Canadian Underwriter

To help aid the victims and survivors of the September 11 terrorist attacks in the United States, the Insurance Brokers Association of Canada (IBAC) has partnered with The Salvation Army in Canada to set up the Canadian Insurance Brokers’ Appeal

News Insurance

MPI changes tune on rate reduction

October 4, 2001 by Canadian Underwriter

Following announcement of higher than normal claims payouts this summer, Manitoba Public Insurance (MPI) is taking back its request to the province for a rate reduction for motorists.Hail storms in August are partly to blame for the decision, which will

News Insurance

IBC launches standard invoice for Ontario

October 4, 2001 by Canadian Underwriter

After five years of petitioning the Financial Services Commission of Ontario (FSCO), the Insurance Bureau of Canada (IBC) is finally able to institute a standard auto insurance invoice for health care practitioners in Ontario. The invoice, which applies to rehabilitation

News Insurance

Lloyd’s losses could top $10 billion, says rating agency

October 3, 2001 by Canadian Underwriter

Rating agency Fitch’s is predicting Lloyd’s of London losses from the terrorist attacks on America could reach US$10 billion or more. This comes after Lloyd’s announced estimated gross losses of US$1.9 billion for the market – still representing the single

News Insurance

Lloyd’s raises premium levy for its "central fund"

October 2, 2001 by Canadian Underwriter

Lloyd’s of London has announced an increase in its "central fund" premium levy which is charged against syndicate members by 0.9% to the 2% level. The new rate becomes effective from next year and will run through to the end