Topic
Insurance
IBC supports heritage homes
June 23, 2006 by Canadian UnderwriterInsurers recently offered support and appreciation for a special brochure called Insuring Old Homes in Nova Scotia.“We’re pleased that anyone in Nova Scotia who owns a heritage home has more information today on the insurance options available to them,” Don…
In Memorium: Deirdre G. Martin
June 23, 2006 by Canadian UnderwriterDeirdre Martin, 52, senior counsel for the Insurance Bureau of Canada, passed away on June 21 following a battle with lung cancer. Martin acted as counsel to the IBC’s national claims committee, the standards and practices committee (which reviews and…
Risk managers see jobs ease
June 23, 2006 by Canadian UnderwriterRisk managers’ may see their jobs ease up if a bill meant to ease regulatory burden that is placed on surplus lines insurers is passed according to a recent congressional panel discussion. Risk & Insurance Management Society Inc. vice president…
Allianz AG to reduce German insurance workforce by 5,000
June 23, 2006 by Canadian UnderwriterAllianz AG has announced plans to reduce the number of workers at Allianz Deutschland AG (ADAG), its German insurance operation, by 5,000.It also plans to cut another 2,480 jobs at its Dresdner Bank subsidiary. Allianz’s announcement said the move would…
Online auto insurer displays best practices
June 22, 2006 by Canadian UnderwriterProgressive Insurance ranked has the number one automobile insurance site, according to two competitive intelligence studies that compare online customer experience and best practices implementation of auto insurance Web sites. The Progressive, GEICO and American Family sites were deemed the…
Death and injury rates decrease under graduated licensing
June 22, 2006 by Canadian UnderwriterThe Graduated Driver License Law appears to result in lower death and injury rates for teen drivers, with the median age being 16-years old, according to a study by the AAA Foundation for Traffic Safety. Death and injury crashes for…
Willis will rate insurance carriers on service
June 22, 2006 by Canadian UnderwriterWillis Group Holdings (NYSE: WSH), a global insurance broker, has launched The Willis Quality Index, an initiative to benchmark insurance carriers from the perspective of servicing and supporting clients’ needs. The Willis Quality Index provides information on such things as:…
SGI Canada now selling insurance products in Alberta
June 22, 2006 by Canadian UnderwriterSGI Canada has begun selling insurance products and services in Alberta, the Crown corporation announced in an online posting.“We’re very pleased to enter the Alberta market as it holds great potential for growth for SGI Canada,” SGI Canada president Jon…
Most U.S. cities still unprepared for disasters
June 21, 2006 by Canadian UnderwriterFive years after 9-11 and nearly a year after Hurricane Katrina most of the United States remains unprepared to deal with a major disaster, according to the U.S. Department of Homeland Security (DHS).U.S. insurers appear to be looking at ways…
XL celebrates 20th by participating in Global Day of Giving
June 21, 2006 by Canadian UnderwriterEmployees of the Canadian operations of XL RE, XL Capital, XL Insurance and XL Design Professional recently participated in the Global Day of Giving.The Global Day of Giving initiative was part of XL’s 20th anniversary celebrations.XL staff worldwide, about 3,500…
Insurers’ use of capital models increasing: Moody’s
June 21, 2006 by Canadian UnderwriterThe use of economic capital models by insurers has grown significantly in recent years and will play an increasingly important role in the rating of such companies, according to a report by Moody’s Investors Service.“Although banks have led the way…
Many Canadians find insurance “difficult to understand”
June 21, 2006 by Canadian UnderwriterAccording to a recent study conducted for The Co-operators, 66% of Canadians find insurance “difficult to understand,” and 63% are “unsure how premiums are calculated.” “The findings are troubling, because insurance is an important financial planning tool and part of…