Canadian Underwriter

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Insurance


News Insurance

Reinsurer/insurer early WTC loss estimates near US$6.5 billion

September 17, 2001 by Canadian Underwriter

Loss estimates so far disclosed by reinsurers and insurers relating to the terrorist attacks of last week against the World Trade Center have reached a total of about US$6.4 billion. A number of companies expected to have large exposures have

News Insurance

Additional insurers/reinsurers present WTC loss estimates

September 14, 2001 by Canadian Underwriter

Further insurance loss estimates arising from the September 11 terrorist attacks against the World Trade Center (WTC) and the Pentagon have been released by a number of leading insurers.PartnerRe Ltd. believes that the combined property, casualty and aviation exposure to

News Insurance

IBC questions financial affairs of ICBC (September 13, 2001)

September 13, 2001 by Canadian Underwriter

Following disclosure earlier this week by the Insurance Corp. of British Columbia (ICBC) of an expected $150 million loss for the current financial year, the Insurance Bureau of Canada (IBC) has called on the B.C. provincial government to conduct an

News Insurance

Several insurers/reinsurers reveal WTC loss estimates

September 13, 2001 by Canadian Underwriter

A number of global insurers and reinsurers have released early loss estimates totaling more than US$4 billion relating to the tragic devastation of New York City’s World Trade Center (WTC) as a result of terrorist attacks carried out this past

News Insurance

WTC terror attack could produce insured loss of US$20 billion

September 12, 2001 by Canadian Underwriter

The tragic events which unfolded early Tuesday this week when two of four hijacked commercial jetliner planes were deliberately crashed into the twin towers of the World Trade Center (WTC) in Manhattan, New York City could produce an insured loss

News InsuranceMergers and Aqcuisitions

Atlantic Canadians hold low perception of insurance costs

September 10, 2001 by Canadian Underwriter

A research study conducted by the Insurance Bureau of Canada (IBC) of the insuring buying public in Atlantic Canada suggests that over 85% of those surveyed believe that the property and casualty insurance industry continues to be profitable. Last year,

News Insurance

U.S. reinsurers face rising loss ratio

September 6, 2001 by Canadian Underwriter

The loss ratio for U.S. reinsurers rose by 6% year-on-year to 85.7% for the six months ended June of this, according to the Reinsurance Association of America (RAA). The RAA’s latest quarterly survey, which is based on the financial returns

News Insurance

Kingsway takes on new U.S. partner

September 5, 2001 by Canadian Underwriter

Specialty insurer Kingsway Financial Services is expanding its U.S. presence through a partnership with The Vision Insurance Group. Kingsway will underwrite non-standard auto policies for Vision in Virginia, Indiana, Arkansas, Ohio and Kentucky, through Kingsway subsidiary Lincoln General.Vision, a privately

News Insurance

Appeals court finds Ontario Names liable

September 5, 2001 by Canadian Underwriter

The Ontario Court of Appeals has turned down the appeals of Lloyd’s investors, or Names, in that province who were seeking to avoid paying monies sought by the U.K. insurance market. Justices Laskin, Goudge and Feldman unanimously agreed to uphold

News Insurance

IBC wants oil tank regulations in place

September 5, 2001 by Canadian Underwriter

The Insurance Bureau of Canada (IBC) has endorsed recommendations in the Report on Domestic Oil Tank Spills submitted to the Newfoundland government, which calls for regulations on the proper installation and maintenance of oil tanks.“We agree the recommendations will guard

News Insurance

Zurich changes Canadian operations moniker

September 4, 2001 by Canadian Underwriter

Zurich Financial Services Group is changing its Canadian identity to Zurich North America Canada. The operations are now included in Zurich’s North America Corporate Business Division, although they will continue to offer personal life and p&c insurance products, as well

News Insurance

Vector results improving slowly

September 4, 2001 by Canadian Underwriter

Broker consolidator Vector Intermediaries (CDNX: VTE) is seeing its results continue to improve, if modestly, through the first half of 2001. Operating results were the best in Vector’s history and operating margins continue to improve, the company states in a