Net earnings improved for many companies within the U.S. property and casualty industry despite declining investment losses, but deteriorating accident-year underwriting results and lower investment income pressured operating profits, reports Fitch.Fitch’s Property/Casualty Insurers’ Mid-Year 2009 Results Review compiled mid-year GAAP…
Consumer satisfaction declines substantially among auto insurance policyholders who are not notified in advance of rate increases, according to the J.D. Power and Associates 2009 Canadian Home and Auto Insurance Customer Satisfaction Study. The study, released on Sept. 23, finds…
As expectations of risk management functions grow in the current economic and regulatory climate, actuaries will have to move beyond their “familiar zone” and begin to consider the entire range of risks faced by an insurer, said Julie Dickson, the…
The need to deal with catastrophic and project risks is driving an increased focus on risk management by private entities, according to a survey of more than 200 public entity organizations in Europe. More than half of the respondents had…
JEVCO Insurance Company will assume the assets and liabilities of Kingsway General Insurance Company (KGIC), effective Oct. 1, 2009, subject to regulatory approval. Both KGIC and JEVCO are subsidiaries of Kingsway Financial Services Inc. (Kingsway).JEVCO will be Kingsway’s marketing brand…
As the global recession affects shipping activity, marine insurers are faced with decreased demand and an increase in piracy, according to A.M. Best. Impeding free trade could have a negative impact on the global economic recovery, Deidre Littlefield, president of…
Eighty-nine per cent of companies surveyed by OpenPages, a provider of integrated risk management solutions, expect to increase spending on governance, risk management and compliance (GRC) activities in 2010.The survey polled more than 50 strategic risk, governance and finance professionals…
The Financial Services Commission of Ontario (FSCO) has released the Health Claims for Auto Insurance (HCAI) 2009 Pilot Guideline. The guideline was issued to facilitate a staged return of the HCAI system, which was suspended Mar. 11, 2008. More guidelines…
The qualification and registration committee of Registered Insurance Brokers of Ontario (RIBO), a self-regulatory body for the province’s insurance brokers, is reminding brokers that if they take on employment outside of brokering, they need to resign their registration immediately.“We consistently…
Toronto, September, 2009 FirstOnSite Restoration L.P. announced today that it has appointed Robert Parizeau as Director of Technical Resources. Reporting directly to the Vice President of National Operations and working from FirstOnSites head office in Toronto, Roberts key focus will…
The Institute for Catastrophic Loss Reduction is pleased to invite you to participate in a workshop with Brian Stocks of B.J. Stocks Wildfire Investigations Ltd. The 2008 Arctic Research of the Composition of the Troposphere from Aircraft and Satellites (ARCTAS)…
California’s attorney general, Edmund G. Brown, has issued subpoenas to Standard & Poor’s, Moody’s and Fitch as part of an investigation into whether or not the credit agencies’ role fuelled the financial crisis.“Standard & Poor’s, Moody’s and Fitch put their…