Segment
P&C Companies
Political ramifications of ERM pose difficult hurdles
September 13, 2007 by Canadian UnderwriterRisk managers need to be aware of the political ramifications when implementing an ERM [enterprise risk management] program, Susan Witcraft, managing director of Guy Carpenter & Company LLCs Instrat Team, Mid-America Region, told attendees of Guy Carpenters ERM seminar in…
“Abrupt climate change,” or “flipping,” featured in Benfield, Partner Re report
September 13, 2007 by Canadian UnderwriterReinsurance and risk intermediary Benfield and reinsurer Partner Re have collaborated to produce the Hazard & Risk Science Review 2007, which summarizes research findings and conclusions of hazard and risk science papers published in the last 12 months that are…
Celent report shows property and casualty e-business is on the rise
September 12, 2007 by Canadian UnderwriterProperty and casualty insurance e-business is a more important element of distribution strategy than it was three years ago, according to a report recently published by Celent.The report is based on survey data from 44 property and casualty insurer executives…
Supersport motorcycles lead the pack in death rates and claims costs
September 12, 2007 by Canadian UnderwriterSupersport motorcycles have the highest death rates and worst overall insurance losses among all types of motorcycles, the Insurance Institute for Highway Safety (IIHS) reports. Supersports are built on racing platforms but modified for the highway and sold to consumers,…
What’s New: In Brief (September 12, 2007)
September 12, 2007 by Canadian UnderwriterAon is hosting a Risk tournament (the board game) in support of future leaders in risk management. The tournament will take place at Dalhousie University, Studley Campus Quad, on September 17 at 10 a.m., with roughly 200 students expected to…
What’s New: In Brief (September 12, 2007)
September 12, 2007 by Canadian UnderwriterIn the wake of the tropical storm Chantal, which hit Newfoundland and Labrador at the beginning of August causing an estimated Cdn$5.8 million in insured damages, insures are showing the commitment to policyholders, according to the Insurance Bureau of Canada.…
3% of insurers/reinsurers get an
September 11, 2007 by Canadian UnderwriterOf the 241 global insurers and reinsurers evaluated in Standard & Poors (S&Ps) first ERM [enterprise risk management] scorecard, 81% of insurers and reinsurers received an adequate ranking for their ERM programs, and only 3% received an excellent.Of those assessed…
The subprime mortgage market not affecting vast majority of insurers
September 11, 2007 by Canadian UnderwriterAn increasing number of homeowners who are having a tough time dealing with increasing mortgage payments are defaulting, leading to severe trouble in the subprime mortgage market. Trouble that has President George W. Bush stepping in and U.S. Fed Chair…
Zurich, SFU working together on climate change adaptation
September 11, 2007 by Canadian UnderwriterZurich Canada has announced it will be working with Vancouvers Simon Fraser University (SFU) to examine options for adaptation to extreme weather events caused by climate change.The ACT/Zurich Canada Extreme Weather Events program kicks off in May 2008, and will…
Canada’s Top 100 auto insurers see loss ratios climb 2.6% in 2006
September 10, 2007 by Canadian UnderwriterLoss ratios on the auto side for Canadas Top 100 auto insurers collectively increased 2.6% in 2006, according to a report released by A.M. Best.In its statistical study, ‘Canada Auto, 2006 Direct Premiums Written,’ A.M. Best notes that even though…
A.M. Best affirms and strengthens Munich Re’s rating
September 10, 2007 by Canadian UnderwriterA.M. Best Co. revised its outlook on all its ratings for Munich Reinsurance Company (Munich Re) from negative to stable, as well as affirming the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of Munich…
What’s New: In Brief (September 10, 2007)
September 10, 2007 by Canadian UnderwriterDaniel (Dani) Goldsmith has been appointed to vice president and CFO at Hub International Limited. He will also be joining Hubs Executive Management Team and Executive Committee. Goldsmith brings with him several years of experience, including international experience, with both…