Topic
Insurance
Survey shows softening U.S. commercial market
April 21, 2006 by Canadian UnderwriterThe United States seems to be experiencing the same signs of commercial market softening as is developing in Canada, according to a recent survey by the Washington, D.C.-based Council of Insurance Agents & Brokers (CIAB).“Commercial property/casualty rates were flat or…
The Co-operators reports record revenues in 2006
April 20, 2006 by Canadian UnderwriterConsolidated revenues for The Co-operators Group Limited reached a record CD$2.7 billion in 2005 up from CD$2.6 billion the previous year. Net income was down slightly from 2004 to CD$138 million, with a return on equity (ROE) of 15.4%The Co-operators…
New D&O policy covers non-indemnifiable claims
April 20, 2006 by Canadian UnderwriterSt. Paul Travelers (NYSE:STA) is offering a new policy designed to give directors and officers of Canadian companies broader protection for claims made against their personal assets.St. Paul’s new Executive Choice Plus package provides coverage for “Side A” non-indemnifiable claims…
Ontario auto rate decreases slowing down in 2006 1Q
April 20, 2006 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) approved Ontario private passenger auto insurance rates decreases that averaged -.071% during the first quarter of 2006.In contrast, the average rate changes approved for the first, second, third and fourth quarters of 2005…
CertifiedFirst welcomes new chairman
April 19, 2006 by Canadian UnderwriterMembers of the CertifiedFirst Network of collision repair centres advisory council elected Ken Friesen, president and CEO of Concours Collision Centres in Calgary, AB, to the position of chairman of the Council this April during the Council’s 4th annual meeting…
Pethealth moves into Massachusetts
April 19, 2006 by Canadian UnderwriterPethealth Inc. (TSX VENTURE:PTZ) pet insurance programs have been accepted in Massachusetts.Subsequent to the end of Q1, the Massachusetts Department of Insurance approved the Company’s programs for sale in the state, effective April 3, 2006. The PetCare programs now available…
Munich Re reports 2005 profit of US$3.34 billion
April 19, 2006 by Canadian UnderwriterMunich Reinsurance Company has reported a 2.7 billion (US$3.34 billion) profit for 2005, paving the way for a record dividend payout of 707 million (US$875.3 million).“Given its outstanding result for the business year 2005, Munich Re is paying out a…
Allstate reports strong 2006 first quarter
April 19, 2006 by Canadian UnderwriterBuoyed by improved underwriting numbers, Allstate Corp reported an “excellent start to 2006” with strong 2006 1Q results.Allstate’s 1Q property liability premiums written grew 2.2% over the first quarter of 2005, driven by Allstate brand standard auto and homeowners increases…
Aon Re provides insight into earthquake loss potential
April 18, 2006 by Canadian UnderwriterAon Re recently developed a comprehensive Earthquake Viewing Guide following the success of its Hurricane Viewing Guide, which was utilized during the 2004/2005 hurricane seasons.The viewing guide provides a range of potential loss outcomes based on possible earthquake events throughout…
Banks take branch insurance sales to Supreme Court
April 18, 2006 by Canadian UnderwriterCanada’s largest banks have asked the Supreme Court of Canada to rule the Alberta Insurance Act be ruled “constitutionally inoperable or inapplicable to federally-regulated banks that promote the sale of insurance to their customers,” A.M. BestWire reports.At the Alberta Court…
PLUS foundation offers hurricane relief grants
April 18, 2006 by Canadian UnderwriterThe Professional Liability Underwriting Society (PLUS) Foundation recently granted over US$90,000 to support its members and other insurance related hurricane relief efforts. The PLUS Foundation identified all members residing in the federally designated disaster areas following the hurricanes of 2005…
What’s New: In Brief (April 18, 2006)
April 18, 2006 by Canadian UnderwriterMartin Ouellet has been named regional sales manager for Canada at Applied Systems, Inc. Most recently, Ouellet was a senior sales consultant for Applied Systems Canada, devoting eight of his 12 years in technology sales and sales management to growing…