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Consumer satisfaction with insurers increases in 2011 despite rate hikes: J.D. Power

September 15, 2011 by Canadian Underwriter

Despite widespread premium increases, customers in the Western and Ontario/Atlantic regions of Canada are notably more satisfied with their auto insurance company this year than they were in 2010, according to the J.D. Power and Associates 2011 Canadian Auto Insurance

News InsuranceMarkets / Coverages

“Across-the-board” reinsurance hard markets unlikely: Willis

September 12, 2011 by Canadian Underwriter

Factors contributing to a hard market are changing, with reinsurers’ total available capital no longer considered the only driver of reinsurance market softening or hardening, said Martin Sullivan, deputy chairman of Willis Group and CEO of Willis Global Solutions.Sullivan offered

News InsuranceMarkets / Coverages

Liability premiums for Ontario municipalities increase 22% since 2007

September 9, 2011 by Canadian Underwriter

Liability premiums for Ontario municipalities have increased by 22.2% since 2007 and are among the fastest growing municipal costs, according to the Association of Municipalities of Ontario (AMO)’s first-ever comprehensive survey of municipal insurance costs.Total 2011 Ontario municipal insurance costs

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Ontario’s auto insurance results in 2011 taking a U-turn from “horrific” 2010 results: A.M. Best

September 8, 2011 by Canadian Underwriter

Ontario’s personal auto accident results are already showing signs of a drastic improvement, one year after the implementation of the reforms.Jeff Mango, assistant vice president at A.M. Best, offered his thoughts on the effectiveness of the auto reforms during A.M.

News Climate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Insurers still slow to account for climate change in their business models: Ceres report

September 1, 2011 by Canadian Underwriter

Only 11 of 88 major U.S. insurers surveyed recently have formal policies in place to deal with growing climate change risks, according to a new report issued by Ceres.The report was to have been delivered at a conference of the

News InsuranceMarkets / Coverages

Commercial soft market finally bottoms out, but still no sign of hard market

August 15, 2011 by Canadian Underwriter

A lack of substantive change in average renewal premiums in 2011 Q2 for three or four lines may indicate the soft commercial lines insurance market has finally bottomed out, according to the Risk and Insurance Management Society (RIMS) Benchmark Survey.The

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

RSA Canada reports 20% increase in premiums, underwriting profit in 2011 first-half

August 4, 2011 by Canadian Underwriter

RSA Canada has reported a 20% increase in its net written premiums and underwriting profit in the first half of 2011, compared to its half-year results last year.The company’s combined operating ratio (COR) was 92.1% in the first half of

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Aviva Canada results buoyed by growth in auto premiums and property lines price increases

August 4, 2011 by Canadian Underwriter

Aviva plc reported a total operating profit of £1.3 billion (approximately Cdn$2.1 billion), up 5% from last year’s six-month operating profit of £1.2 billion (Cdn$1.9 billion). The total is up 13% excluding impact of an £84-million special distribution benefit in

David Fox
Feature Markets / Coverages

One-stop Insurance Shopping

August 1, 2011 David Fox, Director, Information Services, Bermuda Insurance Development Council

The Tax Information Exchange Agreement (TIEA) has immediately reduced the cost for Canadian companies to gain access to cutting-edge risk management products from Bermuda’s insurance centre.

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Alberta holds the line on mandatory auto insurance premiums

July 28, 2011 by Canadian Underwriter

Alberta’s Automobile Insurance Rate Board (AIRB) has decided to maintain premiums at 2010 levels for mandatory automobile insurance.The decision not to increase rates was based on input from Albertans, the board’s consumer representative, the board’s actuary and insurers during an

News Climate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Long-range weather event forecasting of potential use to insurance industry: report

July 22, 2011 by Canadian Underwriter

Long-range weather event forecasting – from one to 10 years out – would be useful to the insurance industry, which now relies too heavily on historical data to predict the likelihood of severe weather events, according to a report co-published

News InsuranceMarkets / Coverages

Canadian commercial lines likely to see flat pricing in 2011 Q3: Marsh

July 21, 2011 by Canadian Underwriter

Overall Canadian market conditions remain favourable across most commercial lines through the end of the 2011 Q2, but signs of a firming market are beginning to appear in segments of the marketplace, according to Marsh. In its Canadian Insurance Market