What’s New: In Brief (December 18, 2007)

The National Insurance Conference of Canada (NICC) has re-launched its Web site, containing new videos and photographs from the 2007 conference.
The 2008 annual NICC will be held at the Hilton Lac-Leamy in Gatineau-Ottawa on Oct. 1-3, 2008.
The 2008 NICC Advisory Committee is currently working to finalize arrangements for the October conference. An initial announcement on key speakers is expected in January, with registration scheduled for early spring.
For more information log on to www.niccanada.com

A.M. Best Co. has upgraded the financial strength rating of Coachman Insurance Company, a wholly owned subsidiary of SGI Canada Insurance Services Limited, from a B- to a B.
In addition, the outlook has been revised from stable to positive.
A.M. Best has also affirmed the financial strength rating of A- for SGI Canada, and B++ for both its wholly owned subsidiary, SGI Canada Insurance Services Limited, and its majority-owned subsidiary The Insurance Company of Prince Edward Island.
The outlook for these ratings is stable.
“These rating strengths are offset in part by each company’s concentration of risk in its respective province, heightened competitive market pressure, rising claims cost inflation and potential earnings volatility from industry wide changes to fair value accounting in Canada,” A.M. Best reports.
“These concerns are partially mitigated by SGI’s experienced management team, the greater geographic and product line diversification from an expansion initiative and by a comprehensive reinsurance program to protect surplus.”