Topic
Insurance
What’s New: In brief (June 06, 2006)
June 6, 2006 by Canadian UnderwriterA Letter from the Desk of Dennis Gartner, Assistant Deputy Minister and Superintendent of Pensions, Insurance and Financial Institutions, regarding the Government of Alberta’s auto insurance reforms and the regulations under review: “As with all legislation, it is necessary to…
Canadian P&C industry “stable”: Standard & Poor’s
June 5, 2006 by Canadian UnderwriterThe outlook on the Canadian property and casualty (P&C) insurance industry remains stable, according to a report published today by Standard & Poor’s Ratings Services. The report, entitled “Industry Report Card: Slower Momentum Expected For Canadian Property And Casualty Insurers,”…
Lloyd’s warns underwriters about climate change
June 5, 2006 by Canadian UnderwriterThe insurance industry must face up to the growing threat of climate change or risk being swept away, according to Lloyd’s, the world’s leading specialist insurance market.A new report, ‘Climate Change, Adapt or Bust’, published by Lloyd’s, warns that insurers…
Personal lines outlook stable, S & P’s
June 5, 2006 by Canadian UnderwriterThe outlook for personal lines insurers is stable, according to Standard & Poor’s Ratings Services midyear 2006 outlook report.The report titled “U.S. Personal Lines Midyear 2006 Outlook: Low Volatility Means Few Raings Changes in 2006” indicates the second half of…
What’s New: In brief (June 05, 2006)
June 5, 2006 by Canadian UnderwriterThe10th annual North American Export Committee (NAEC) meeting, hosted by the Insurance Bureau of Canada (IBC), will focus on the theme of the link between auto theft, organized crime and terrorism. The 2006 Auto Theft Export Summit will take place…
RMS predicts smaller 2007 terrorist attacks, but bigger payload
June 2, 2006 by Canadian UnderwriterThe level of terrorism risk for 2007 will be similar that for 2006, with a slight reduction in the risk of nuclear attack and a trend toward smaller attacks that pack a bigger punch, according to an A.M. best report…
Benfield launches online Storm Centre
June 2, 2006 by Canadian UnderwriterBenfield has launched its online Storm Centre, a real-time portal for up-to-the- minute information on current and past tropical cyclone activity.The Storm Centre, which replaces the Hurricane and Typhoon Season CD, is a portal for information on current and past…
Insurers to pay $50 million in Hollinger settlement
June 2, 2006 by Canadian UnderwriterAmerican International Group Inc. and Chubb Corp. may pay CD$50 million to cover a settlement involving a suit against past directors of Hollinger International Inc., Ontario Superior Court Judge Colin Campbell recently ruled.The minority Hollinger shareholder Cardinal Capital Management LLC…
ING Savers integrated with Compu-Quote software
June 2, 2006 by Canadian UnderwriterCompu-Quote Inc. recently integrated its AutoRater and PropertyRater services with ING Insurance’s point-of-sale tool, Savers. The amalgamation of these products will allow brokers to submit new business to ING Insurance through Savers from within Compu-Quote’s rating services without double entry.…
Insurer capital model revised
June 1, 2006 by Canadian UnderwriterStandard & Poor’s Ratings Services is currently updating its risk-based capital model. S & P’s explains, in it report titled “Credit FAQ: An Advance Glimpse At The Upcoming Changes To The Insurer Capital Model,” that it is testing newly developed…
Insurer capital model gets a facelift
June 1, 2006 by Canadian UnderwriterStandard & Poor’s Ratings Services is currently updating its risk-based capital model. S & P’s explains, in it report titled “Credit FAQ: An Advance Glimpse At The Upcoming Changes To The Insurer Capital Model,” that it is testing newly developed…
Alberta’s 2005 flood season reviewed
June 1, 2006 by Canadian UnderwriterAlberta experienced one of the worst flood seasons on record in the summer of 2005 due to severe weather conditions, according to the Government of Alberta.These unprecedented conditions which saw rainfall ranging from between 50 and 100 mm to more…