Keyword
claims costs
Government of Newfoundland and Labrador conducting comprehensive review of auto insurance system
July 5, 2017 by Canadian UnderwriterThe Government of Newfoundland and Labrador has announced the start of a comprehensive review of the auto insurance system in the province. Perry Trimper, Minister of Service NL, announced the review in a statement on Tuesday. As part of the…
Manitoba Public Insurance requests 2.7% overall rate increase for 2018/19 insurance year
June 19, 2017 by Canadian UnderwriterManitoba Public Insurance (MPI) has announced that it has requested a 2.7% overall rate increase for the 2018/19 insurance year. MPI requested the rate increase for the 2018/19 insurance year in its general rate application filed with the Public Utilities…
The Co-operators reports net income of $34.6 million for Q1 2017, combined ratio of 102.5%
May 2, 2017 by Canadian UnderwriterGuelph, Ont.-based Co-operators General Insurance Company has reported a consolidated net income of $34.6 million for the first quarter of 2017 ending March 31, down from $39.3 million in the first quarter of 2016. The company’s combined ratio, excluding market…
Manitoba Public Insurance reports $30.9 million net loss for first six months of fiscal year
October 14, 2016 by Canadian UnderwriterManitoba Public Insurance (MPI) has reported a net loss of $30.9 million for the six months of its fiscal year ending Aug. 31 – a decrease of $47.4 million over the same time period last year. This includes net loss…
Q2 combined ratio up 6.5 points for Munich Re
August 9, 2016 by Canadian UnderwriterMunich Re reported Tuesday a 6.5-point deterioration in its Q2 combined ratio in property & casualty reinsurance, as the recent wildfires in Northern Alberta and the April earthquakes in Japan were among the natural catastrophes that contributed to the firm’s…
Q1 claims costs up 48.1% at Manitoba Public Insurance
July 19, 2016 by Canadian UnderwriterManitoba Public Insurance Corp., the crown corporation that writes auto insurance in the province, reported Friday its underwriting loss was $33.8 million during the three months ending May 31. MPI had reported underwriting income of $40.73 million in the three…
Manitoba Public Insurance seeks 2% basic auto rate increase after “unprecedented” claims payouts
June 17, 2016 by Canadian UnderwriterManitoba Public Insurance (MPI) said on Friday that it has asked the Public Utilities Board for a 2% increase to Basic Autopac rates, citing an “unprecedented” year for comprehensive (non-collision) claims payouts. Basic Autopac is an all-perils coverage that insures…