Canadian Underwriter

Topic
Insurance


News Climate ChangeInsurance

Property catastrophe rates up 8%: Guy Carpenter (January 06, 2009)

January 6, 2009 by Canadian Underwriter

Property catastrophe rates were pushed up 8% due to high catastrophe losses and the continuing international credit crisis, according to a briefing published by Guy Carpenter & Company. Major findings in the briefing, Cats and Credit Push Prices Up: Global

News Insurance

Property catastrophe rates up 8%: Guy Carpenter (January 06, 2009)

January 6, 2009 by Canadian Underwriter

Property catastrophe rates were pushed up 8% due to high catastrophe losses and the continuing international credit crisis, according to a briefing published by Guy Carpenter & Company. Major findings in the briefing, Cats and Credit Push Prices Up: Global

News Insurance

Core claims system vendors need to differentiate themselves: Celent

January 6, 2009 by Canadian Underwriter

Insurers are rapidly replacing legacy systems with upgraded core claims technology, and vendors should differentiate themselves by focusing on improving usability, making implementation faster and less expensive and documenting the value propositions of new technologies, a recent Celent report notes.The

News Insurance

Outsourcing in economic downturn presents increased challenges

January 6, 2009 by Canadian Underwriter

Although the risks of outsourcing during an economic downturn increase, organizations can still benefit if they revisit and revise their risk management practices, PricewaterhouseCoopers (PwC) says. “Even in the best of times, outsourcing requires careful planning and structuring to deliver

News Insurance

What’s New: In Brief (January 06, 2009)

January 6, 2009 by Canadian Underwriter

David Huebel has joined Catlin Canada Inc. as its chief underwriting officer.Huebel will be responsible for the implementation and execution of the Catlin Group’s underwriting plan for all lines of business across Canada.He was most recently the president and CEO

News Insurance

Hard market is coming and may be prolonged, Advisen says

January 5, 2009 by Canadian Underwriter

The deteriorating global economy could delay the hardening of the commercial insurance market until the end of this year, but the coming hard market may be more prolonged than past cycles, Advisen Ltd. predicts.Average rate levels for commercial insurance will

News Insurance

Economic turmoil presents opportunity for reinsurers to regain market share

January 5, 2009 by Canadian Underwriter

The manner in which cedants select reinsurance partners has shifted as the demand for reinsurance capacity increases, according to a Willis Re report.In 1st View; Capital Rules, Willis Re examines global trends that emerged during the Jan. 1, 2009 renewal

News Insurance

Declining capital worrisome to Canadian (re)insurers as claims costs rise: Swiss Re

January 5, 2009 by Canadian Underwriter

Investment and capital losses associated with Canada’s economic recession are happening at a time when the country’s industry is in need of capital to offset claims costs, a Swiss Re online newsletter reports.In its report, “Implications of the Financial Crisis

News Insurance

What’s New: In Brief (January 05, 2009)

January 5, 2009 by Canadian Underwriter

ACE Canada has expanded its International Executive Assistance Services product to include emergency political evacuation and concierge services. Political evacuation coverage is automatically provided to reimburse an insured’s covered costs up to a policy limit, according to ACE. Additionally, a

News Insurance

Happy Holidays from the staff of Canadian Underwriter! (December 23, 2008)

December 23, 2008 by Canadian Underwriter

The staff of Canadian Underwriter would like to wish everyone a happy, healthy and safe holiday season, and best wishes in the New Year! This is the last installment of Canadian Underwriter’s Daily News for 2008. We will resume with

News Insurance

Moody’s credits AIG for restructuring efforts, but weak global economy posing challenge to asset values

December 23, 2008 by Canadian Underwriter

Moody’s has seen good and bad omens as it monitors the restructuring and divestiture efforts of American International Group, Inc. (NYSE: AIG)“AIG has made important strides in the restructuring plan announced on Nov. 10, 2008,” the ratings agency announced in

News InsuranceMergers and Aqcuisitions

Watch out for those wild signposts!

December 23, 2008 by Canadian Underwriter

As economic times get tough, and people look for ways to avoid paying money, many insurers are on the lookout for fraudulent claims.The latest example in B.C. was based on the fact that insurance premiums are not affected in comprehensive