Keyword
Ratings/Research
U.S. workers comp picture brightening: Fitch
August 19, 2004 by Canadian UnderwriterIn a new report, rating agency Fitch says the bleak picture faced by U.S. workers’ compensation insurers in the past several years turned around significantly in 2003, and is set to remain stable for 2004.Based on data from the National…
Car thieves targeting residential neighborhoods: MPI
August 18, 2004 by Canadian UnderwriterWith this week marking “Auto Theft Awareness Week”, Manitoba Public Insurance (MPI) is releasing a survey suggesting most car thefts occur in residential neighborhoods.The study, conducted in May, found 59% of those who had been victims of auto theft say…
What’s new: In brief (August 18, 2004)
August 18, 2004 by Canadian UnderwriterBoomerang Tracking is being purchased by Massachusetts-based LoJack Corp., for US$48 million in cash/stock options to shareholders. “By joining LoJack, we believe we can more effectively increase our penetration in existing markets and enter new markets through the synergy created…
Lloyd’ rating upgraded on capital and performance gains
August 12, 2004 by Canadian UnderwriterRating agency A.M. Best has upgraded the financial strength rating of Lloyd’s of London to “A” from “A-“, citing overall improvement for the London market and the expectation of further growth.A.M. Best predicts the market’s central solvency capital will rise…
Second study finds teens learn driving habits from parents
August 11, 2004 by Canadian UnderwriterAnother study has come out showing teen drivers take most of their cues from their parents’ driving habits. The 2004 Liberty Mutual/SADD Teen Driving Study finds almost 60% of high school drivers say their parents are the biggest influence on…
Ontario Liberals release “customized” auto policy plans
August 9, 2004 by Canadian UnderwriterThe Ontario Liberal government has released a discussion paper outlining its plans for a new auto insurance system which would include “customized coverages” for accident benefits (AB).The Ministry of Finance has posted the discussion paper on its website and is…
Hurricane predictions revised
August 9, 2004 by Canadian UnderwriterTwo groups issuing predictions for the Atlantic hurricane season have updated their forecasts. Tropical Storm Risk (TSR), part of the Benfield Hazard Research Centre, increased its forecast by 20%. It says the 2004 season shows signs of being 150% of…
Captives continue to show strong growth: A.M. Best
August 8, 2004 by Canadian UnderwriterOver the five-years ending 2003, captives posted net written prmeiums growth of 45%, according to a new report by A.M. Best. In its annual captives review, the rating agency finds over the same five-year period, admitted assets are up 29%,…
Benchmark report highlights auto challenges: Baker
August 8, 2004 by Canadian UnderwriterThe first release of the MSA Benchmark Report on Canadian p&c insurers highlights the struggles being experienced by auto writers compared to commercial insurance carriers.The report’s author, MSA Research Inc.president Joel Baker, says that despite a return on equity of…
IBC voices insurer concerns over Bill-30
August 5, 2004 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) says Newfoundland’s Bill-30 is a “short-term fix” that does little to relieve the pressure on auto insurers and their customers in the province.Bill-30 was signed into law earlier this week, despite opposition from insurers…
Multi-state credit scoring study scrapped
August 4, 2004 by Canadian UnderwriterSeveral states have agreed to scrap a joint credit scoring study they had been pursuing in favor of an agreement with insurers who will provide data to the federal study on the same issue.Thirteen states led by Missouri had originally…
Reputational risk tops list of financial institutions’ concerns
August 4, 2004 by Canadian UnderwriterIn the latest survey of financial services companies’ views on risk management, PriceWaterhouseCoopers and the Economist Intelligence Unit find a heightened profile for the risk management function and specific concerns about unquantifiable risks, namely reputational risk. In fact, reputational risk…