A.M. Best Co. is maintaining a stable outlook in 2009 for both the global reinsurance sector and the U.S. personal lines sector.The ratings agency listed factors that support its reinsurance sector outlook, including: • sound underlying operating earnings generated over…
The Insurance Brokers Association of Ontario (IBAO) will be launching a new monthly publication, The Ontario Broker, in April. The new publication will replace the IBAO News and will be a full-colour, 16-page magazine.The magazine will focus on important issues…
The Canadian Collision Industry Forum (CCIF) is supporting a private member’s bill before the House of Commons that would oblige vehicle manufacturers to provide independent repairers access to tools, training and diagnostic information.“In Canada, certain vehicle manufacturers are denying [independent…
The Canadian Collision Industry Forum (CCIF) is supporting a private member’s bill before the House of Commons that would oblige vehicle manufacturers to provide independent repairers access to tools, training and diagnostic information.“In Canada, certain vehicle manufacturers are denying [independent…
The introduction of speed limiters for trucks set at 105 km-h increases safety for all geometric highway configurations, especially straight highways, a report for the federal transportation department says.The basic aim of the study, posted on Transport Canada’s Web site,…
American International Group (AIG) Inc. has reported a US$99.3-billion net loss for 2008, compared to a net income of US$6.2 billion in 2007. Its general insurance operations reported net premiums written of US$9.2 billion in 2008 Q4, a 16.3% decline…
Developing insurance solutions for cyber liability in educational settings is challenging because the exchange of information in such settings is expected to be accessible and yet secure and private, an Aon Professional Risk Services White Paper notes. “An overriding challenge…
Manitoba Public Insurance (MPI) has acquired the nine-storey building that houses most of its administrative office, as well as surrounding parking lots, for Cdn$81.5 million.Acquiring Cityplace will contribute to stable operating costs and continued low Autopac rates, MPI said in…
Governments need to improve how they prioritize efforts to prepare for large-scale disasters, according to an Organization for Economic Co-operation and Development (OECD) report, Innovation in Country Risk Management.Furthermore, they should work more closely with the private sector to ensure…
Giving additional bailout money to insurance companies that are also savings and loans (thrift) holding companies undermines healthy competitors, said the Property Casualty Insurers Association of America (PCIAA).“Insurers that become bank or thrift holding companies can get cheap federal loans…
Insurance lawyers defending professional liability claims should look into the possibility of limiting liability on the basis of contractual provisions, especially when co-defendents (such as architects) have contracts that limit the scope of liability.Andrew Heal of Blaney McMurtry made the…
Insurers must avoid turning counsel into loss adjusters, which not only wastes money, but risks turning counsel into a witness. Furthermore, counsel lose objectivity when they are asked to play the role of frontline investigators, Marcus Snowden, partner at Blaney…