Topic Catastrophes
Terrorism risk cat bond prevails
July 14, 2006 by Canadian UnderwriterThe terrorism risk catastrophe bond written by Golden Goal Finance Ltd. To cover the cancellation of the 2006 FIFA World Cup was recently applauded by Risk Management Solutions (RMS).RMS, a provider of products and services for the management of natural…
Life, non-life insurance sectors show different growth rates
July 13, 2006 by Canadian UnderwriterLife and non-life insurance sectors showed entirely different developments in 2005, a Swiss Re annual study of the global insurance market found.In 2005, the worldwide insurance industry wrote premiums to the tune of US$3.4 billion. According to a Swiss Re…
Crawford to handle North Vancouver oil spill claims
July 12, 2006 by Canadian UnderwriterThe Vancouver-based marine services branch of Crawford Adjusters Canada has been appointed to handle the insurable repercussions resulting from a recent oil spill into an inlet off North Vancouver’s waterfront.Vessel owner’s liability insurers appointed Crawford Marine Services to investigate and…
What’s New: In brief (July 11, 2006)
July 11, 2006 by Canadian UnderwriterA.M. Best Co. recently released a new podcast series focused on insurance technogy and the E-Fusion conference. The audio series, called the “E-Fusion Podcast,” covers technology developments, conference doletails and the E-Fusion awards. The first episode features an interview with…
Value of weather risk management contracts soars (June 28, 2006)
June 28, 2006 by Canadian UnderwriterThe notional value of weather risk management contracts increased nearly five-fold over the past year from US$9.7 billion in April 2005 to US$45.2 billion as of March 2006.The Weather Risk Management Association (WRMA), an international trade organization of the weather…
Crawford Adjusters Canada announces appointments
June 28, 2006 by Canadian UnderwriterCrawford Adjusters Canada has appointed Bill Johnstone vice president, Greater Toronto Area (GTA) Region.The company described the promotion in a press release as “part of a larger realignment of Crawford’s operating divisions across Ontario.”Crawford has restructured its Ontario market into…
Swiss Re anticpates improvement in p&c market
June 28, 2006 by Canadian UnderwriterThe insurance industry posted solid profits in 2005 despite record losses, according to comments made by Swiss Re’s senior economist Thomas Holzheu during the company’s mid-year Economic and Insurance Industry teleconference.Regarding the property and casualty insurance business, Holzheu says that…
Task force asked to looked into terrorism insurance concerns
June 27, 2006 by Canadian UnderwriterThe US federal anti-terrorism task force has been put on the spot to research terrorism insurance concerns prior to issuing its terrorism insurance market report due for release later this year.Under the terms of the 2005 Terrorism Risk Insurance Extension…
In remembrance: Moody, a leader of women in insurance
June 27, 2006 by Canadian UnderwriterMaggie Moody, 59, a long-time member of the Toronto Insurance Women’s Association (TIWA) and the Canadian Association of Insurance Women (CAIW), passed away suddenly on June 16.A long-time employee of Marsh Canada, Moody has served as president for both TIWA…
Death and injury rates decrease under graduated licensing
June 22, 2006 by Canadian UnderwriterThe Graduated Driver License Law appears to result in lower death and injury rates for teen drivers, with the median age being 16-years old, according to a study by the AAA Foundation for Traffic Safety. Death and injury crashes for…
Most U.S. cities still unprepared for disasters
June 21, 2006 by Canadian UnderwriterFive years after 9-11 and nearly a year after Hurricane Katrina most of the United States remains unprepared to deal with a major disaster, according to the U.S. Department of Homeland Security (DHS).U.S. insurers appear to be looking at ways…
Insurers’ use of capital models increasing: Moody’s
June 21, 2006 by Canadian UnderwriterThe use of economic capital models by insurers has grown significantly in recent years and will play an increasingly important role in the rating of such companies, according to a report by Moody’s Investors Service.“Although banks have led the way…