What’s New: In Brief (March 12, 2007)

La Capitale General Insurance has enhanced the scope of its recreational vehicle insurance, now offering watercraft and caravan/motorhome insurance (all types) as a stand-alone insurance product.
There is no obligation to obtain a home or automobile insurance contract in order to purchase watercraft, caravan and/or motorhome insurance, La Capitale announced in a press release. La Capitale isthe first direct writer to offer such a product without an intermediary.
RV Solutions Insurance for watercrafts offers distinctive coverage to all boating enthusiasts, including:
– The boat (its fixed equipment and its inboard and inboard/outboard motors);
– Motors (including portable fuel tanks and related equipment);
– Fixed or portable electronic and communication equipment;
– Accessories, trailers and cradles; and
– Personal effects and the personal property of guests
In addition, La Capitale General Insurance offers discounts such as 15% when equipped with a tracking system and 10% when bearing antitheft markings. Furthermore, when insured with La Capitale, the navigational limits expand to the port of New York, the Gulf of St-Lawrence waters, the Great Lakes and certain Alberta lakes.

U.S. commercial insurers are making a killing, thanks to the slow 2006 catastrophe season, A.M. Best reports.
Commercial insurers ended 2006 with record profits, making it the best year ever for many in terms of underwriting performance and capital standing, A.M. Best noted in a recent online posting. While soaring investment income played a role in earnings results, a benign catastrophe season in 2006 was the most significant driver.
A.M. Best sources noted commercial insurers were blessed with a healthy dose of good luck in 2006. Mother Nature, bless her heart, went on vacation, said Warren Buffett, the chairman and CEO of Berkshire Hathaway, noting the relative lack of natural catastrophes.
The record-setting results did point out, however, the need for underwriting discipline in 2007, Buffett told A.M. Best. 2006 will soon be perceived as a misleading period of calm preceding a series of devastating storms for insurers, he predicted.
In the meantime, A.M. Best reported, commercial rates, particularly in non-cat areas, continue to fall as competition heats up in the middle-market and small commercial arenas.