Topic
Insurance
What’s New: In Brief (April 13, 2009)
April 13, 2009 by Canadian UnderwriterIncreasing demand for directors’ and officers’ (D&O) insurance is being fuelled by concerns about the economy, shareholder action, litigation and the increasing engagement by regulators, according to Marsh. FTSE 100 companies are buying 20% more D&O insurance than 12 months…
Stable capacity, rate on line projected in June 2009 for Canadian cat reinsurance
April 9, 2009 by Canadian UnderwriterCatastrophe reinsurance in Canada is expected to show a rate on line (ROL) change of between zero and 5% at the June and July 2009 renewals, according to a Reinsurance Market Outlook published by Aon Benfield.ROL is a calculation of…
RIBO notes increasing privacy complaints
April 9, 2009 by Canadian UnderwriterThe Registered Insurance Brokers of Ontario (RIBO) says it has received an increasing number of new complaints in which the privacy of brokers’ clients has been breached.In its spring newsletter, RIBO notes a large portion of these complaints come from…
What’s New: In Brief (April 09, 2009)
April 9, 2009 by Canadian UnderwriterCarla Blackmore, director of commercial programs at Zurich North America Canada, has announced her retirement as of Apr. 30, 2009.Blackmore joined Zurich in 1975. Her career spanned many areas of the organization, including sales and marketing, commercial regional manager and…
MarketScout sees more moderate price reductions in the U.S. insurance market in 2009 Q1
April 9, 2009 by Canadian UnderwriterMarketScout’s insurance ‘Market Barometer’ still shows a soft commercial market in March 2009, but rate decreases in the U.S. commercial property and casualty sector are starting to moderate.MarketScout’s composite property and casualty rate index reflects an ongoing moderation in price…
Auto dealer’s replacement guarantee deemed an insurance product
April 8, 2009 by Canadian UnderwriterThe Autorité des marchés financiers (AMF) considers a motor vehicle replacement guarantee offered by car dealers to be an insurance product subject to AMF oversight. “Motor vehicle replacement guarantees must therefore be issued by insurers, whose regulatory framework — administered…
Court strikes claim that insurer, adjuster and solicitor conspired
April 8, 2009 by Canadian UnderwriterThe Ontario Superior Court has struck the statement of claim of a woman alleging that her insurer, its claims adjuster and solicitor conspired against her to cause economic injury and mental distress.In King v. Kahane-Rapport et. Al. the plaintiff was…
Study finds decrease in lowest quoted auto rates for Q1
April 8, 2009 by Canadian UnderwriterThere was a 1.9% decrease in the average lowest rates quoted for auto insurance rates in Ontario in Q1 2009 as compared to Q1 2008, according to a Kanetix study. The study findings appear to contradict industry trends of increasing…
What’s New: In Brief (April 08, 2009)
April 8, 2009 by Canadian UnderwriterClaudine Davoodi has been appointed director of claims operations in Montreal for Crawford & Company (Canada) Inc. Additionally, Richard Viau has been appointed director of Crawford & Company (Canada) Inc.’s global technical services division in Quebec.She will have operational responsibility…
What’s New: In Brief (April 07, 2009)
April 7, 2009 by Canadian UnderwriterThe Association of Professional Insurance Women selected Janice Tomlinson as 2009’s ‘Insurance Woman of the Year.’Tomlinson is executive vice president and international field operations manager for the Chubb Group of Insurance Companies. Prior to this position, she served as the…
Reinsurance rates continue to rise at April 2009 renewals
April 7, 2009 by Canadian UnderwriterReinsurance rates have continued to increase for the U.S. property and catastrophe reinsurance market as of the Apr. 1, 2009 renewal, according to a briefing issued by Guy Carpenter & Company LLC.The briefing, titled Rates Up on Tightening Capacity at…
SGI applies for first rate increase in nine years
April 7, 2009 by Canadian UnderwriterThe Saskatchewan Auto Fund is applying to the Saskatchewan Rate Review Panel (SRRP) for a rate increase and rate rebalancing — the first increase since 2000. If approved, customers would see an average increase of 4.2%, effective Nov. 1, 2009.…