Canadian Underwriter

What’s New: In Brief (February 09, 2007)

February 9, 2007   by Canadian Underwriter

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Insurers have handled more than 1,000 claims with property/casualty losses estimated at US$68 million in the week following a string of 7 tornadoes that struck Florida last week, reported A.M. Best.
Michal Connolly, a spokesperson for State Farm Florida Insurance Co., told A.M. Best that the company anticipates 600 claims and losses of US$23 million as the final storm tally.
Of the claims received, she added, 405 are homeowners claims and 216 are automobile claims.
She noted that 109 of the homes damaged are uninhabitable.
The spate of storm-related p/c damage struck 8 days after the passage of bills by state legislators creating new reinsurance rules.
“The “super cat fund” expands the state’s US$16 billion cat fund by another US$16 billion, allowing insurers to purchase reinsurance at a discounted rate.”

The Honda Civic was crowned the best compact car at the 2007 Chicago Auto Show, not surprisingly the car also made top honours for the Insurance Bureau of Canada’s list of the most frequently stolen cars in 2006.
The Consumer Voice Awards, given by BrandIntel, recognize best-in-class vehicles according to consumer discussions and sentiment across 12 vehicle segments.
Over 200 vehicle attributes are taken into account, including safety, quality, reliability and performance.
The Ford Escape was awarded best midsize SUV, best luxury sedan went to the Audi A4, and the Honda Odyssey scooped the best minivan title.

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