Canadian Underwriter

What’s New: In Brief (October 29, 2007)

October 29, 2007   by Canadian Underwriter

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A.M. Best Co. has affirmed the A+ financial strength rating of The Wawanesa Mutual Insurance Company (WMIC) (Winnipeg) and The Wawanesa Mutual Insurance Company (United States Branch).
The outlook for the financial strength rating is stable, according to A.M. Best.
The ratings of WMIC are based on its superior level of capitalization and strong, liquid balance sheet supported by profitable operating performance, geographic diversification and its market position among the Canadian property and casualty insurance industry leaders, as well as WMIC’s diversified product mix and experienced management team, according to A.M. Best. These rating strengths are offset in part by the challenges WMIC faces in the personal lines automobile market due to regulatory reforms, increasing claims frequency, increased competitive pricing pressures mainly on commercial lines business and the weaker capitalization and operating performance of WGIC [Wawanesa General Insurance Company] in the United States.

Mennonite Mutual Fire Insurance (MMFI) brokers will soon be able to download and import policy data from MMFI Web services direct into Custom Software Solutions Inc.s (CSSI) The Broker Workstation (TBW) and Intelliquote (IQ) software, according to a release issued by MMFI.
MMFI has worked with CSSI to provide for optimal download integration of MMFIs Policy Analyzer data into CSSIs complete office solution, TBW, and also into its standalone rating and underwriting tool, the IQ, the release says. The data will include base policy and billing information as well as a PDF of MMFIs policy declaration pages.

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