Segment
P&C Companies
What’s New: In Brief (July 03, 2007)
July 3, 2007 by Canadian UnderwriterA.M. Best Co. is hosting a comprehensive, one-day conference in Toronto to explore the issues facing the Canadian insurance industry. The 2007 Review& Preview ConferenceCanadian Update will be held Sept. 21 from 8:30 a.m. to 3 p.m. at the Westin…
Insurance finance departments treading water: report
July 3, 2007 by Canadian UnderwriterInsurance company finance departments are under pressure to adapt to an increasing number of regulatory changes while at the same time they are morphing from the role of number-cruncher to one of strategic contributor, according to a recent report by…
U.S. P&C industry reports declining ROE in 2007 Q1
June 29, 2007 by Canadian UnderwriterThe U.S. property and casualty insurance industry recorded a declining return on equity (ROE) in 2007 Q1, despite good underwriting results, according to information released by ISO and the Property Casualty Insurers Association of America (PCI). During 2007 Q1, the…
What’s New: In Brief (June 29, 2007)
June 29, 2007 by Canadian UnderwriterAXA is making available a comprehensive portfolio of customized art insurance products and related services to meet the growing demands of individual art collectors, museums, galleries, corporations, galleries, trusts, travelling exhibitions and artists in the Canadian marketplace. AXA will be…
What’s New: In Brief (June 29, 2007)
June 29, 2007 by Canadian UnderwriterSwiss Re has created what it says are the first catastrophe bond indices on the market, A.M. Best has reported, giving the market better information on returns related to risk.Richard Pennay, in the structuring department at Swiss Re Capital Markets,…
AMF focuses on developing derivatives market
June 29, 2007 by Canadian UnderwriterThe Autorit des marches financiers (AMF) has announced the establishment of a Centre of Excellence for Derivatives (CED) to provide Quebec with modern and flexible regulatory instruments that can effectively foster the growth of the derivatives industry in Quebec while…
Court affirms distinctions between ‘other insurance’ policies
June 28, 2007 by Canadian UnderwriterThere is a distinction to be made between primary, excess and/or umbrella policies when other insurance policies are called upon to respond in situations when primary coverage has been exhausted, the Ontario Court of Appeal ruled recently.In McKenzie v. Dominion…
Insured damages creep past Cdn$1 billion in UK floods
June 28, 2007 by Canadian UnderwriterInitial estimates by Risk Management Solutions (RMS) suggest insured losses from recent floods that continue to batter the United Kingdom could exceed 500 million [Cdn$1.06 billion]. The rainfall situation, caused by a stationary east coast depression that draws moisture from…
What’s New: In Brief (June 28, 2007)
June 28, 2007 by Canadian UnderwriterSimmlands Insurance Brokers Ltd. is joining forces with Women in Insurance Cancer Crusade (WICC) to present the 2007 Canadian PGA Womens Championship Pro-Am on July 30 at the Ladies Golf Club of Toronto.This inaugural event will provide a fun-filled day…
Customer service, price key factors in carrier switch
June 28, 2007 by Canadian UnderwriterCustomers in the United States looking around for car insurance will typically gather, on average, three competitive quotes, according to the J.D. Power and Associates 2007 Insurance Shopping Study released this weekOne-third of these shoppers will switch carriers; of these,…
What’s New: In Brief (June 27, 2007)
June 27, 2007 by Canadian UnderwriterB.C. over the past five years has averaged two deaths and 161 injuries in 574 crashes on Canada Day, costing ICBC and customers Cdn$4.4 million in claims costs. Year after year, speeding is the top contributing factor in all fatal…
Ontario Court of Appeal upholds denial of coverage to driver who was unaware of license suspension
June 27, 2007 by Canadian UnderwriterIn cases in which insureds are not aware that their drivers licenses have been suspended, trial judges do not have discretion under s. 129 of Ontarios Insurance Act to overturn the insurers denial of auto insurance coverage, Ontario Appeal Court…