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Ratings/Research
Approved auto insurance rate filings in Ontario down in 2013 Q3
October 30, 2013 by Canadian UnderwriterPrivate passenger auto insurance rate filings in Ontario approved during the third quarter of 2013 declined on average by 0.68%, based on the entire market, notes a recent notice from the Financial Services Commission of Ontario (FSCO). The notice provides…
Global insurance capital standard adds uncertainty: Fitch
October 18, 2013 by Canadian UnderwriterFitch Ratings has cautioned that plans by the International Association of Insurance Supervisors (IAIS) to develop a risk-based global insurance capital standard add further uncertainty for the insurance industry. Applying to approximately 50 internationally active insurance groups (IAIGs), the plan…
A.M. Best upgrades ratings for members of the Optimum General Companies
September 12, 2013 by Canadian UnderwriterA.M. Best has upgraded the ratings for the members of the Optimum General Companies, also giving the ratings a stable outlook. The companies, which include Optimum Insurance Company Inc. (OIC), Optimum Farm Insurance Company Inc. and Optimum West Insurance Company…
Underwriting discipline key to continued stability in reinsurance market
September 11, 2013 by Canadian UnderwriterUnderwriting discipline is keeping the outlook for the reinsurance market stable, in the face of downward pressure on pricing and continuing low interest rate challenges, according to a ratings agency analyst. Overall, the reinsurance market in Canada is well-capitalized, Scott…
Outlook stable for Canadian P&C industry, despite regulatory challenges
September 9, 2013 by Canadian UnderwriterThe Canadian property and casualty insurance industry is recording solid performance, despite several ongoing challenges, notes a new special report from A.M. Best. The ratings agency has maintained a stable outlook for the industry. Last year was the fourth in…
All in the Delivery
September 1, 2013 Karl Greenlaw, Founder and CEO, BrovadaAs more customers buy insurance through aggregators, price will become a key differentiator. But brokers who are good at delivering insurance will be in the best position to compete.
Global reinsurance outlook stable, investment environment remains a challenge: Fitch
August 29, 2013 by Canadian UnderwriterFitch Ratings issued a stable outlook for global reinsurance ratings on Thursday, saying it expects to affirm most of its current ratings in 2014. Capital strength and continued profitability have allowed for the outlook, the firm said. Apart from a…
U.S. commercial liability, property insurance premiums predicted to rise
August 27, 2013 by Canadian UnderwriterMoody’s Investor Services Inc. anticipates commercial property and casualty insurance carriers in the United States will increase their rates this year while combined ratios will drop. A report released Monday by New York-based Moody’s – titled US P&C Insurance Pricing…
Reinsurers face pricing pressure due to excess capacity: A.M. Best
August 26, 2013 by Canadian UnderwriterReinsurance firms are “capable of absorbing significant losses from a combination of events” but are also facing pricing pressure because of investments from third-party capital, a new report from A.M. Best Company suggests. Though global reinsurers are “well capitalized,” Oldwick,…
U.S. P&C industry loss reserve position adequate, Fitch says
August 19, 2013 by Canadian UnderwriterThe U.S. property and casualty insurance industry’s loss reserves are adequate, based on an analysis of the industry’s position at the end of 2012, Fitch Ratings said Monday. That makes its position “relatively unchanged from the prior year,” the firm…
Fitch Ratings publishes report on credit factors for global reinsurance companies
August 15, 2013 by Canadian UnderwriterFitch Ratings has issued a special report on credit factors it uses to analyze the global non-life and life reinsurance sector. The sector-specific factors are a supplement to the firm’s global master criteria “Insurance Rating Methodology” from Jan. 11, 2013.…
Mega issues with Megatrends
August 1, 2013 by Canadian UnderwriterWill the insurance industry be ready to effectively respond to the rise of social media, big data and other megatrends? Results of a recent global survey from Towers Watson indicate that while new challenges are emerging, the insurance industry is lagging behind.