Canadian Underwriter

News


News Insurance

What’s New: In Brief (February 25, 2010)

February 25, 2010 by Canadian Underwriter

Eighty-three per cent of British Columbians are concerned about fraud, and 95% have taken preventative steps to avoid becoming a victim, according to the TD Canada Trust Fraud Prevention Month Poll.Conducted by Angus Reid, the survey asked questions of 1,059…

News Insurance

Senior staff changes at Aviva Canada

February 25, 2010 by Canadian Underwriter

Aviva Canada is continuing to recruit new members to its executive team, following the appointment earlier this year of Maurice Tulloch as its CEO.James Russell has been appointed as Aviva Canada’s chief underwriting officer. Russell has held several executive roles…

News Insurance

H1N1 outbreak may not have peaked: WHO

February 24, 2010 by Canadian Underwriter

It is premature to conclude that all parts of the world have experienced peak transmission of the H1N1 pandemic influenza, according to an emergency committee that advises the World Health Organization. Furthermore, additional time and information is needed to provide…

News Insurance

What’s New: In Brief (February 24, 2010)

February 24, 2010 by Canadian Underwriter

XL Insurance has appointed Seraina Maag as the chief executive of its North America Property and Casualty unit. She succeeds Dennis Kane, who is retiring at the end of the year.Maag most recently headed the Zurich North America commercial specialties…

News Insurance

What’s New: In Brief (February 24, 2010)

February 24, 2010 by Canadian Underwriter

W.R. Berkley Corporation reported a net income of $309 million in 2009, an increase over the $281 million it reported in 2008.The firm’s international operations reported a combined ratio of 100.1% for 2009, marking a slight decrease from 2008’s combined…

News Insurance

Trust in Canadian insurance industry jumps 17%, Edelman survey says

February 24, 2010 by Canadian Underwriter

After a year in which trust in business sunk to historic lows, Canada stood out on the world stage with its increased trust in the insurance industry, according to the 2010 Edelman Trust Barometer.Conducted by public relations firm Edelman, the…

News InsuranceMarkets / Coverages

Decrease in general increases for P&I renewals: Aon

February 23, 2010 by Canadian Underwriter

Ship owners experienced a more benign protection and indemnity (P&I) renewal at Feb 20, 2010, according to Aon Risk Services. General increases ranged between 0% and 12.5%, with a market average of 4.54%, the marine division of Aon reported. Owners…

News Climate ChangeInsuranceMergers and Aqcuisitions

What’s New: In Brief (February 23, 2010)

February 23, 2010 by Canadian Underwriter

Greenhouse warming will cause the globally averaged intensity of tropical cyclones to shift towards stronger storms, with intensity increases of between 2% and 11% by 2100, says an article published in Nature Geoscience.“Existing modelling studies also consistently project decreases in…

News Insurance

Slight softening of Canadian rates during January 2010 renewals: Guy Carpenter

February 23, 2010 by Canadian Underwriter

The Jan. 1, 2010 renewals saw a slight softening of rates in Canada, according to a Guy Carpenter GC Capital Ideas report. Property per risk covers with little or no loss activity averaged reductions of 3% to 6%, while greater…

News Insurance

A.M. Best maintains stable outlook for U.S. commercial lines

February 23, 2010 by Canadian Underwriter

A.M. Best Co. is maintaining its stable outlook for the U.S. commercial market, despite soft market conditions, the anticipation of less favourable loss reserve releases and a contracting economy.Commercial lines rates will likely flatten in the latter part of 2010,…

News Insurance

What’s New: In Brief (February 22, 2010)

February 22, 2010 by Canadian Underwriter

CEP Forensic Engineering Inc. an engineering company based in Quebec, has expanded into the Toronto market. The new Toronto office will be headed up by Michael Fulcher, an electrical engineer with 30 years of experience in power equipment maintenance and…

News Insurance

Standard models for determining minimum capital requirements face challenges: S&P’s

February 22, 2010 by Canadian Underwriter

Standard models used by insurers to compute their solvency capital required (SCR) have the potential to produce excessive or inadequate capital requirements, said Standard & Poor’s.In its report, Standard & Poor’s Highlights Differences in Capital Adequacy Between its Methodology and…