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Fairmont Specialty Given Okay by US Regulators

February 1, 2004 by Canadian Underwriter

Fairfax’s Fairmont Specialty Group Inc. – which includes the remaining business of former subsidiaries TIG Insurance Group and Ranger Insurance Group – says U.S. regulators have given a “thumbs up” to the company’s structure and capitalization. The announcement prompted rating

Ross Totten
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Totten Group Buys August Group Risk Management

February 1, 2004 by Canadian Underwriter

London, Ontario-based wholesaler Totten Insurance Group has bought August Group Risk Management, an underwriting office serving brokers of Aviva Canada. Totten Group CEO Ross Totten says AGRM will remain at its current location and become a division of Totten, continuing

Alain Thibault
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Meloche Monnex Buys Liberty Mutual’s Personal Lines

February 1, 2004 by Canadian Underwriter

TD Bank’s insurance arm, Meloche Monnex, has acquired the Canadian personal lines book of Liberty Mutual, a subsidiary of the Boston-based Liberty Group. The terms of the deal were not disclosed. Meloche Monnex, which sells personal home and auto insurance

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Moments in Time (February 01, 2004)

February 1, 2004 by Canadian Underwriter

Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry’s history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.

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Going Wireless

February 1, 2004 Chris Venn

It would seem in today’s tough market environment that “flexibility” has become a competitive (perhaps survivalist) tactic for brokerages in responding to the shifting “marketscape”. And, I have seen brokers respond in many different ways – with some of these responses having been very creative and surprising. “Wireless networking” is one such creative solution.

Catherine Rein
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U.S. Primary Market Outlook: Big Stakes Game

February 1, 2004 Sean van Zyl, Editor

A survey conducted by the Insurance Information Institute (III) of the 250 insurance management attendees of its annually held Joint Industry Forum (JIF), which this year’s event recently took place in New York, suggests that four out of five U.S.

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Internet Data Exchange: Crossing the Lines

February 1, 2004 Lee Slack

For many years, brokers have sought technology that could seamlessly integrate sales-side systems with financial service carrier back-offices. This “holy grail” of broker technology is not merely a distant dream – it is available today.

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The “Multi-Sport” Rack Option

February 1, 2004 Kevin Campbell

While insurer and other industry Internet-based portals have made progress in simplifying personal lines processing, this is not the case with commercial lines. Some companies are building proprietary websites for commercial quotes. While this may please smaller brokers, it represents two steps backward for those brokerages who had invested in automating their commercial lines. Fortunately, tapping into new Internet technology provides a solution to satisfy all brokers.

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Taking CAT Risks to the Next Advancement

February 1, 2004 Dennis Kuzak

The longstanding business of insurance – whereby risk of loss is transferred for a price per a set contract – has withstood wars, disasters, politics and time. Yet, the business of risk transfer has not remained “timeless” in that market forces have adapted with the changing needs of a developing and ever advancing society. The growing popularity of “cat bonds” as a form of investment as well as that of risk hedging against large unexpected losses therefore should come as no surprise to insurers.

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The High Price of Credit Scoring

February 1, 2004 Vikki Spencer

What does a person’s credit history have to do with the odds they are going to have an auto accident or a house fire? Insurers say plenty. Credit scoring, or the use of an individual’s credit history in the rating process, has been used in the U.S. but not without causing political turmoil. Canadian insurers, on the other hand, have been staying under the political radar, using credit scoring on a limited basis for fear of inciting further government intrusion into the underwriting process.

Robert Hartwig
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U.S. Insurers’ Profits Soar for First 3-Qs 2003

January 1, 2004 by Canadian Underwriter

U.S. property and casualty insurers saw their net income jump an impressive320.6% to US$21.1 billion for the nine months ending September 30, 2003,versus the US$5 billion posted for the same period a year earlier. Equallywelcome was a return on equity

The remains of a home in San Berandino following the California wildfires in November.
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2003 A “Modest” Year for Cat Losses

January 1, 2004 by Canadian Underwriter

On a global scale, 2003 will go down as a modest year for insured catastrophe losses, but the human toll of yearend disasters – specifically the earthquake in Iran – were significant. In its annual report on global catastrophes, Munich