438 articles for Aug 2007
Active hurricane season anticipated, fewer land falls
May 31, 2006 by Canadian UnderwriterThe 2006 hurricane season is expected to see 17 named storms forming in the Atlantic basin but, according to Colorado State University’s (CSU) forecast, fewer major hurricanes will make landfall on coastal regions compared to last year. The U.S. Atlantic…
Three Canadians on RIMS’s 2006-07 board
April 25, 2006 by Canadian UnderwriterThree Canadians will serve on the Risk and Insurance Management Society, Inc. (RIMS)’s board of directors in 2006-07.Two Canadians newly voted onto the RIMS board of directors include: Joseph A. Restoule (RIMS Secretary and board director). Roule is a senior…
National Broker Survey: Signs of Softening
April 1, 2006 David GambrillInsurance brokers across the country are enjoying a refreshing period of quiet, stable markets. At the same time, Canadian brokers, faced with gradually declining rates – particularly in commercial and residential lines – are waiting for the proverbial other shoe…
Counting the Claims
January 1, 2006 by Canadian UnderwriterClaims Management Outlook 2006
Primary Insurer CEO Outlook: Steady As She Goes
December 1, 2005 by Canadian UnderwriterCEOs of Canadian primary insurers are calling in 2006 for a steady course on pricing and “responsible” underwriting in response to their two biggest issues of the year – replenishing capital in the aftermath of US hurricanes and Canadian auto…
Primary Insurer Strategies 2004: Towing The Bottom-Line
December 1, 2003 Sean van Zyl, Editor“Cautious optimism” – would seem to generally sum up the points of view of primary insurer CEOs in looking ahead to 2004. While this year saw the first signs of a profit recovery within the Canadian property and casualty insurance industry – with the premium pool rising by almost a third to reach a staggering $30 billion – the past 12 months also dealt insurers several blows in the form of higher catastrophe losses, rising prior-year adverse reserve developments, a spilling of red ink from the Facility Association, and provincial political intervention on loss-making mandatory covers. The latter, which applies to mostly personal lines auto, remains the greatest concern of insurers as governments have been slow to react with necessary product loss reduction reforms whilst introducing politically-motivated rate freezes. With much riding on the future viability of the auto product, insurer CEOs partaking in CU’s annual “strategic outlook” are hesitant to declare the industry “out of the woods” in terms of achieving a healthy and stable marketplace.