What’s new: In brief (September 09, 2004)

Rating software vendor Compu-Quote is releasing its Alberta update for its AutoRater to respond to new legislation coming into effect October 1. Senior vice president James Nickelo says the new “premium grid” being implemented in the province may actually bring new broker clients to rating software. “Providing fast, accurate auto insurance quotes manually has never been an easy task, but with the introduction of the grid on October 1 the process will become even more complicated and time consuming. We’re expecting to see some of the brokerages that have stayed with manual quoting start taking a closer look at AutoRater.” The company is holding seminars over the next three weeks to familiarize brokers and insurer personnel with the system updates.

Standard & Poor’s has affirmed all ratings of Swiss Reinsurance Co. at “AA”, but has placed a negative outlook on the Zurich-based reinsurer. S&P wonders whether the profitability exhibited by Swiss Re in 2003 and early 2004 is sustainable, and notes that the reinsurer, like many of its counterparts, continues to bolster reserves in response to adverse development on U.S. casualty business.

The Toronto Insurance Conference has announced CBC sportscaster Ron MacLean as its guest speaker for the annual Black Tie Dinner, to be held at the Four Seasons Hotel in Toronto on Thursday, November 18. The TIC is also co-sponsoring a “Risk: Regulation & Reality” seminar on October 7 at the Four Seasons. For more information, visit www.ticonf.com or call 416-410-4842.