Topic
Insurance
P&C profitability anticipated for 2006, but decline expected through 2008
September 6, 2006 by Canadian UnderwriterThe Property & Casualty insurance industry can look forward to another year of overall industry underwriting profit in 2006, which a Conning Research and Consulting Inc. forecast report says will match the results of 2004. “Analysis of 2005 results for…
What’s New: In brief (September 06, 2006)
September 6, 2006 by Canadian UnderwriterKingsway Financial Services Inc. has appointed Denis Cloutier to the position of vice president and chief actuary, Canadian Operations as well as Tom Duffy to the position of vice president, Kingsway America Inc., and chief actuary, U.S. Operations. Cloutier joined…
Reinsurers head-to-head with P&C cycle
September 5, 2006 by Canadian UnderwriterManaging the property and casualty cycle is said to be the most difficult endeavor that reinsurers will face throughout 2006 and 2007, according to a recent report published by Fitch Ratings Agency.The report “Reinsurance Review and Outlook: Cycle ManagementA Bumpy…
Colorado State downgrades 2006 hurricane predictions
September 5, 2006 by Canadian UnderwriterColorado State University’s hurricane forecast team has downgraded its original 2006 forecast for the Atlantic basin based on changing climate signals and below-average activity in the first third of the season.The forecasting team of Philip Klotzbach and William Gray has…
CARSTAR opens new Atlantic Canada location (September 05, 2006)
September 5, 2006 by Canadian UnderwriterCARSTAR Automotive Canada has opened a new location in Nova Scotia. CARSTAR announced it has welcomed MacKay’s CARSTAR Collision to its network of collision repair centres. The new location, which opened in August, joins a network of over 110 CARSTAR…
Crawford partners with MJM Investigations
September 1, 2006 by Canadian UnderwriterCrawford & Company (NYSE: CRDA; CRDB), an independent provider of claims management solutions, and MJM Investigations Inc. recently formed a global strategic alliance.MJM will become Crawford’s preferred provider for services including: insurance fraud mitigation and claims services as well as…
What’s New: In brief (September 01, 2006)
September 1, 2006 by Canadian UnderwriterWillis Group Holdings Ltd. recently reached an agreement with New York Attorney General Eliot Spitzer and New York Superintendent of Insurance Howard Mills that will allow the broker to accept extra profit-based commissions from insurers when it acts as a…
Competition and soft rates challenge commercial property market
August 31, 2006 by Canadian UnderwriterUnderwriting within the Canadian commercial property segment during 2005 saw a sharp increase in net loss ratio, dampening overall industry results.Events that contributed to the poor results include the Suncor Oil Sands Facility and increased storm activity throughout the country…
What’s New: In brief (August 31, 2006)
August 31, 2006 by Canadian UnderwriterRobert E. (Bob) Gallagher, chairman of the board of Arthur J. Gallagher & Co., passed away following a brief illness. Gallagher, 83, joined his father’s insurance agency in 1947 after graduating from Cornell, working alongside his two brothers. In 1963,…
Canadian travellers warned of hurricane season
August 30, 2006 by Canadian UnderwriterCanadians are being urged to review their travel plans and take necessary precautions when visiting regions forecasted to be affected by hurricanes.The warning comes from The Honourable Peter MacKay, Minister of Foreign Affairs and Minister of the Atlantic Canada Opportunities…
Global warming to complicate control of wildland fires
August 30, 2006 by Canadian UnderwriterA recent report published by an assembly of global fire ecologists indicates recent climate change will hinder our ability to manage wildland fire and apply prescribed fire across the landscape.The Association for Fire Ecology’s report, “San Diego Declaration on Climate…
Access to actuarial report on Alberta auto insurance denied
August 29, 2006 by Canadian UnderwriterInformation and Privacy Commissioner Frank Work has upheld the decision of Alberta Finance (the “Public Body”) to refuse access to the draft KPMG actuarial report that helped set the rate for basic automobile insurance in 2003. A press release from…