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P&C insurers say predictive modeling is improving bottom-line results: Towers Watson survey

February 8, 2011 by Canadian Underwriter

North American property and casualty insurance companies currently using predictive modeling are seeing positive improvements in bottom-line results, according to a Web-based survey by Towers Watson.Predictive modeling uses advanced statistical modeling techniques, along with critical company and external data related

News InsuranceMarkets / Coverages

$74 billion loss needed to trigger US hard market: Advisen

February 2, 2011 by Canadian Underwriter

Hard market conditions would be triggered by a $74-billion loss of excess capacity in the U.S. commercial insurance market, according to Advisen. In its ‘QuickNote: $74 billion away from a hard market,’ Advisen cites surging supply – explained by rebounding

David Gambrill, Editor
Feature Markets / Coverages

The Fantasy of ‘Market Discipline’

February 1, 2011 David Gambrill, Editor

No company can afford to exercise the kind of willpower required to break a soft cycle. Walking away from business is counterintuitive in a competitive marketplace.

News InsuranceMarkets / Coverages

Canadian marine lines continue to see softening in 2010 Q4: Marsh

January 27, 2011 by Canadian Underwriter

Most companies in Canada paid the same or less for their commercial marine insurance in 2010 Q4, a trend likely to continue into 2011, Marsh reported. Abundant capacity for all but the least attractive marine risks and the absence of

News InsuranceMarkets / Coverages

Soft commercial market conditions poised to continue in 2011: Marsh Canada report

January 26, 2011 by Canadian Underwriter

Soft commercial insurance market conditions persisted throughout Canada in 2010 and are poised to continue into 2011, according to a comprehensive report published by Marsh Canada.“Key commercial insurance market drivers from 2009 -including intense competition among insurers, abundant capacity and

News InsuranceMarkets / Coverages

Retrocessional reinsurance market remains flat at Jan. 1 renewals: Guy Carp

January 25, 2011 by Canadian Underwriter

The retrocessional reinsurance market is enduring a pricing environment of flat to minus 10% off rate for loss-free cat retro and cat on direct and facultative programs at Jan. 1, 2011 renewals, Guy Carpenter reported. There has been significant international

News InsuranceMarkets / Coverages

Flattening of commercial lines in 2010 Q4 a lull, not signal of hard market: RIMS

January 24, 2011 by Canadian Underwriter

Commercial property and casualty insurance rates were flat in 2010 Q4 when compared to the same period of 2009, but a hardening of the commercial P&C insurance market is not imminent, Advisen reported in the Risk and Insurance Management Society

News InsuranceLegalMarkets / CoveragesMergers and Aqcuisitions

New Brunswick Appeal Court orders province’s insurance board to re-hear rate application

January 24, 2011 by Canadian Underwriter

New Brunswick’s Court of Appeal has ordered the New Brunswick Insurance Board to re-hear an auto rate application submitted by Pembridge Insurance Company in 2009, based on the fact that the board failed to provide reasons for its rate-setting decision.The

News InsuranceMarkets / Coverages

Aon see airline market as “soft,” despite lead and hull and liability numbers

January 18, 2011 by Canadian Underwriter

Despite lead hull and liability premium numbers, the airline insurance market appears to be in the process of soiftening, according to the December 2010 edition of Aon’s Airline Insurance Market News.“The 19% average premium increase in November is influenced by

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

FSCO approves average auto rate increase of 1.93% in 2010 Q4

January 17, 2011 by Canadian Underwriter

Ontario’s financial regulator, the Financial Services Commission of Ontario (FSCO), approved an overall average auto insurance rate increase of 1.93% in 2010 Q4.For the 54.15% of the market that had rate changes approved in 2010 Q4, the average rate change

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Ontario auto rates increased 9.5% on average in 2010 Q4: Kanetix

January 12, 2011 by Canadian Underwriter

Personal auto insurance quotes in Ontario increased 9.5% in 2010 Q4, while decreasing 4.9% and 0.4%, respectively in Quebec and Alberta when compared to 2009 Q4, reported kanetix.ca.Kanetix’s rate review is determined by taking an average of all the quotes

News InsuranceMarkets / Coverages

A.M. Best changes outlook on U.S. commercial lines to ‘Negative’

January 11, 2011 by Canadian Underwriter

A.M. Best has revised its outlook to negative from stable for U.S. commercial lines for 2011. The revision implies that negative rating actions will outnumber positive rating actions in 2011, despite the fact that the vast majority of rating actions