Topic
Insurance
FSCO sets ground rules for “private” meetings with DAC assessors prior to DAC hearing testimony
October 17, 2008 by Canadian UnderwriterA Designated Assessment Centre (DAC) assessor may meet privately with counsel for either a claimant or an insurer prior to testifying at a hearing, and that meeting will not necessarily affect the neutrality of the DAC assessor’s evidence presented at…
Threat of recession should not overshadow insurance industry’s hiring needs: recruiter
October 17, 2008 by Canadian UnderwriterDespite the possibility of an economic recession in the future, the insurance industry still needs to find ways to recruit top talent, an insurance specialty recruiter notes. During a breakfast seminar held this month, DGA Careers management and other industry…
U.S. bond insurers change gears in volatile market
October 17, 2008 by Canadian UnderwriterU.S. bond insurers, which collectively underwrote at least US$1 billion of par in the first half of 2008, are refocusing their strategies towards the lower-risk public finance market in the wake of the U.S. financial crisis, according to Standard &…
J.D. Power and Associates releases results of its insurance consumer satisfaction survey
October 16, 2008 by Canadian UnderwriterState Farm scored highest in customer satisfaction among private full-coverage automotive service providers that were ranked in an inaugural customer satisfaction survey conducted by J.D. Power and Associates.Runners-up for customer service in private auto insurance included belairdirect and Johnson Insurance.J.D.…
Cat bond issuance decreases in soft market
October 16, 2008 by Canadian UnderwriterThe issuance of catastrophe bonds has decreased to US$2.73 billion in the first nine months of 2008, compared to US$5.38 billion in the same period of 2007, BestWire reported.The dip can primarily be attributed to the softening of the reinsurance…
IBAC warns industry about insurance conference
October 16, 2008 by Canadian UnderwriterThe Insurance Brokers Association of Canada (IBAC) has contacted the RCMP to investigate a conference marketed towards Canadian insurance professionals.An organization naming itself ‘The Canadian Insurance Brokers & Risk Managers’ has recently distributed an advertisement announcing a conference that is…
What’s New: In Brief (October 16, 2008)
October 16, 2008 by Canadian UnderwriterICBC has launched a pilot program to offer owners of Ford F-Series trucks, the most stolen vehicles in B.C., a free electronic immobilizer.The program will run in the Lower Mainland and Fraser Valley. Owners of the trucks (models from 2000…
What’s New: In Brief (October 15, 2008)
October 15, 2008 by Canadian UnderwriterJean Marc Laurin has been appointed senior vice president of operations at Cunningham Lindsey Canada Claims Services Ltd.Based in Montreal, Laurin will assist with Quebec operations, in addition to special projects elsewhere throughout the Canadian operation. “Jean Marc has a…
U.S. bank holding companies diversify through insurance revenues in tough times
October 15, 2008 by Canadian UnderwriterU.S. bank holding companies increased their total insurance revenue in the first half of this year to US$23.7 billion, up from US$21.7 billion during the same period a year ago, A.M. Best reports.“Overall, insurance brokering activity is hardly mentioned among…
Berkley Corporation creates new underwriting leg
October 15, 2008 by Canadian UnderwriterW. R. Berkley Corporation (NYSE: WRB) has formed Berkley Underwriting Managers Canada, Ltd., which will offer a wide range of specialty casualty commercial insurance products. Products include general liability, products liability and other commercial lines on behalf of the Canadian…
What’s New: In Brief (October 15, 2008)
October 15, 2008 by Canadian UnderwriterOntario in 2008 Q3 saw a minimal increase in the average of the lowest premium quoted of 0.8% year-over-year.“While the increase was less than 1% when compared to the same period last year, this is the fifth consecutive quarter that…
ACE sees Q3 investment loss; income between $1.44-1.48 per share
October 15, 2008 by Canadian Underwriter**CLARIFICATION**: The following news brief, originally posted on Oct. 14, contains information about the company’s operating income and investment loss that was omitted from the previous publication. ACE Limited estimates its 2008 Q3 net investment loss will be approximately US$1.5…