438 articles for Aug 2007
Drenched In Claims
January 1, 2009 David Gambrill, EditorRecord levels of water in Canada (including hail and snow) drove up the cost, if not the frequency, of property damage claims throughout Canada. And if it wasn’t rain, it was accident benefits claims raining down in Ontario auto insurance.
XL Capital responds to market rumours it is putting itself on auction block
December 11, 2008 by Canadian UnderwriterXL Capital Ltd. (NYSE: XL) has responded to — but did not confirm or deny — rumours that the insurer is exploring the option of putting itself up for sale amid reports of large Q4 investment losses.“The company remains focused…
Pumping Up the Volume
December 1, 2008 Vanessa Mariga, Associate EditorIndependent brokers need to spend a lot more money on advertising in order to compete with the direct channel, Ontario brokers say.
Canadian auto insurance rate regulators establish CARR Association
November 26, 2008 by Canadian UnderwriterAuto insurance rate regulators across the country have established the Canadian Auto Insurance Rate Regulators (CARR) Association.“Our vision is to be a recognized inter-jurisdictional Canadian association for automobile insurance rate regulators working together to improve rate regulation processes,” said association…
Marsh reports 2008 Q3 loss of US$8 million
November 5, 2008 by Canadian UnderwriterMarsh & McLennan Companies, Inc. (MMC) reported a 2008 Q3 net loss of US$8 million, noting its revenue growth was 2% on an underlying basis before the impact of acquisitions and dispositions.Marsh’s 2007 Q3 result was substantially higher, a profit…
Canadian Market (November 01, 2008)
November 1, 2008 by Canadian UnderwriterONTARIO AUTO INSURANCE RATES ON THE RISE A significant portion of the Ontario private auto insurance market went to the regulator to ask for rate increases in 2008 Q3. “In the third quarter of 2008, for the 77.97% of the…
AIG’s Sinking Fortunes
October 1, 2008 David Gambrill, EditorBased in the United States, the American International Group (AIG), dubbed the “world’s largest insurer,” is seriously listing, shocking a Canadian insurance industry that is now wondering what will happen to AIG’s Canadian operations.
On the Scene (October 01, 2008)
September 30, 2008 byCrawford & Company (Canada) Inc. lost a long-time stalwart member and friend with the passing of John McHugh on Sept. 24, 2008. John, vice president, Claims Operations for Crawford, was known throughout the industry as a fine gentleman, a devoted…
Explosive Claims
September 30, 2008 Laura KupcisA recent explosion at a propane facility in Toronto has those on site re-evaluating safety protocol behind the caution tape, while insurance companies re-visit the risk associated with low frequency-high severity companies.
What’s New: In Brief (September 02, 2008)
September 2, 2008 by Canadian UnderwriterFirstOnSite Restoration LP and Disaster Kleenup Canada Ltd. (DKC) have parted ways effective Aug. 31, 2008. A limited partnership FirstOnSite Restoration LP was created in 2007, comprised primarily of a number of DKC members. As FirstOnSite’s business model developed, it…
Keeping it in the Family (September 01, 2008)
September 1, 2008 David Gambrill, EditorPeter Fredericks, the incoming president of the Insurance Brokers Association of Canada, says he wants the public to perceive brokers as loyal and trustworthy
Country Risk Analysis: 50 Ways…
September 1, 2008 Peter Beeching, Freelance WriterRating countries for financial risk is an exercise often fraught with peril. There are, to quote Simon and Garfunkel, at least ’50 ways’ in which the analyses may not square with reality.