438 articles for Aug 2007
Reinsurers on Canada’s Primary Market: Rate Spiral
November 1, 2007 by Canadian UnderwriterReinsurers see greater catastrophe exposures and a renewed emphasis on insurance to value in the future, causing them to wonder how much further primary insurance rates will continue to spiral in the meantime
Class Actions: Dawn of a New Era
November 1, 2007 David GambrillIn light of the “new breed” of sophisticated and aggressive plaintiff lawyer that has emerged since the introduction of class action legislation two decades ago, the insurance defence bar is encouraged to re-think a strategy of settling cases early.
MPI reports profit growth despite increased claims cost and volume
October 4, 2007 by Canadian UnderwriterManitoba Public Insurance (MPI) credits a Cdn$80.3 million profit for the first half of 2007 to increases in investment and premium revenue, despite enduring the worst summer for weather-related claims in a decade.The figure includes a net income of Cdn$56.9…
Flooding in Canada (Part 1): Edmonton and Toronto: Flood of Information
October 1, 2007 Dan Sandink, Research Coordinator, Institute for Catastrophic Loss ReductionEdmonton residents are more likely than Toronto residents to mitigate future flood risk; not surprisingly, Edmonton has a more comprehensive basement flooding education program
Changing the World
October 1, 2007 David Gambrill, EditorOur way of life is killing us, one could easily conclude from current research on climate change. In its June 2007 interim report to the Canadian government, the National Round Table on the Environment and the Economy (NRTEE) outlined its…
Marketing Brokers in the Future: The BIG SELL
October 1, 2007 David GambrillIn response to the aggressive marketing approaches of online and direct writers, the independent channel is planning to be more aggressive about promoting its advisory role to the public.
Global reinsurance rates decrease 2%
October 1, 2007 by Canadian UnderwriterIn its annual review of the worldwide catastrophe insurance market, reinsurance intermediary Guy Carpenter & Company notes 2007 global reinsurance rates decreased 2%, compared to a 32% increase in 2006. “The hurricanes of 2005 had no obvious impact on Canadian…
Hub International to acquire Totten Insurance Group
September 19, 2007 by Canadian UnderwriterHub Ontario, a subsidiary of Hub International Limited, entered into a definitive agreement to acquire all of the stock of Totten Insurance Group Inc. (Totten), a Canadian specialty insurance wholesaler that develops niche products and provides solutions for unusual lines…
Boomers, younger generation show different attitudes about tech use
September 18, 2007 by Canadian UnderwriterBaby Boomers and younger business owners have different attitudes towards technology, according to survey results released Sept. 17 by Ipsos Reid on behalf of Micorsoft Canada Co.The survey was conducted online with 1,230 small- and medium-sized businesses (SMB) owners randomly…
Reinsurance rates in Canada decreasing
September 5, 2007 by Canadian UnderwriterIn its annual review of the worldwide catastrophe insurance market, Guy Carpenter & Company, LLC researchers noted 2007 reinsurance rates decreased 2%, compared to a 32% increase in 2006.The hurricanes of 2005 had no obvious impact on Canadian markets, however,…
Hurricanes churning as forecasters maintain predictions for a season of high activity
September 4, 2007 by Canadian UnderwriterAs Hurricane Felix slammed into Nicaragua and Hurricane Henriette barrels towards Mexico, researchers at Colorado State University (CSU) maintain their prediction of above average activity for the remainder of the hurricane season.<br>Hurricane Felix made landfall with maximum sustained winds of…
Eastern Canada to suffer residual effects of worsening hurricane season
September 4, 2007 by Canadian UnderwriterThe Canadian Hurricane Centre recently told Canadian Press that conditions are right for a turbulent close to the hurricane season.In an online posting, CTV cited a CP interview with Peter Bowyer of the Canadian Hurricane Centre in Dartmouth, N.S. CP…