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General average rate increase of 4.2% for Saskatchewan Auto Fund

August 26, 2009 by Canadian Underwriter

SGI’s rate request for the Saskatchewan Auto Fund, which includes rate rebalancing, is to be effective Nov. 1, 2009, according to the Saskatchewan Rate Review Panel’s Report to the Minister of the Crown Investment Corporation of Saskatchewan. SGI had applied

News InsuranceMarkets / Coverages

What’s New: In Brief (August 14, 2009)

August 14, 2009 by Canadian Underwriter

The Risk and Insurance Management Society (RIMS) has formed a committee to increase its profile in the standards and practices arena and make it the primary resource in shaping and developing risk management standards.Carol A. Fox, past chair of RIMS

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

What’s New: In Brief (August 12, 2009)

August 12, 2009 by Canadian Underwriter

ICBC’s reported profit for the first six months of 2009 is Cdn$277 million, up from Cdn$255 million for the same period in 2008. “The increase is the result of continued encouraging trends on claims, while ICBC is also managing its

News InsuranceMarkets / Coverages

Marsh’s 2009 Q2 fortunes linked to writedown related to Kroll

August 5, 2009 by Canadian Underwriter

Marsh & McLennan Companies Inc. (MMC) reported a net loss in 2009 Q2 of US$193 million, compared to a profit of US$65 million in 2008 Q2.Marsh’s quarterly result includes a US$315-million writedown related to Kroll Government Services, a U.S. government

News InsuranceMarkets / Coverages

Commercial market bottoming out, capacity decreasing

July 29, 2009 by Canadian Underwriter

Despite the fact that capacity in the U.S. commercial insurance market is drying up, the market remains competitive, according to the Risk and Insurance Management Society (RIMS)’s 2009 Q2 Benchmark Survey.The survey was produced by Advisen Ltd. It is based

News InsuranceMarkets / CoveragesMergers and Aqcuisitions

Decrease in auto insurance rates in Alberta

July 29, 2009 by Canadian Underwriter

Basic auto insurance rates in Alberta will decrease by 5%, according to the Automobile Insurance Rate Board (AIRB). The rate reduction follows public hearings in which the Insurance Bureau of Canada called for a 6.4% rate increase. According to the