Segment
P&C Companies
Canadian P&C industry must heed lessons of past soft markets, A.M. Best warns
June 19, 2007 by Canadian UnderwriterThe Canadian property and casualty industry posted excellent results in 2006, sporting a 91.7% combined ratio and a 17% return on equity (ROE), but it should be mindful of the lessons learned from soft markets in the past as 2007-08…
What’s New: In Brief (June 18, 2007)
June 18, 2007 by Canadian UnderwriterThe Risk and Insurance Management Society (RIMS) has sponsored publication of a new handbook to help people make sense out of that nebulous area known as Enterprise Risk Management (ERM). The title of the book which would be familiar to…
Chicoutimi insurance broker convicted on charge of tax evasion
June 18, 2007 by Canadian UnderwriterGestion MRCI Inc., known under the company name of AssurExperts Gingras Jacques Lajoie et Associs lte, of Chicoutimi, has been found guilty of tax evasion by the Court of Quebec.In a press release, the Canada Revenue Agency (CRA) notes the…
What’s New: In Brief (June 18, 2007)
June 18, 2007 by Canadian UnderwriterAon Reed Stenhouse Inc. has announced the appointment of Christine Lithgow as executive vice president, national client service, market relations for Aon Reed Stenhouse and as a member of the national executive committee. Lithgow began her career at Reed Stenhouse…
PPG Canada announces appointments in automotive refinish group
June 18, 2007 by Canadian UnderwriterPPG Canada has announced three new appointments within its Automotive Refinish group, including Denis Cloutier, insurance services manager, Eastern Canada, Jennifer Rosiak-Wong, Canadian advertising manager, and Bruce Young, district manager, collision programs.Cloutier will work with the Canadian insurance industry to…
Allocating 2007 hurricane losses: primary insurers or reinsurers?
June 15, 2007 by Canadian UnderwriterClimactic conditions are ripe for an active storm season and obviously an active storm season increases the likelihood that the insurance industry will incur losses, according to a June 2007 report by Fitch Ratings, entitled Hurricane Season 2007: A Desk…
Cat model updates increase demand surge assumptions
June 15, 2007 by Canadian UnderwriterThe catastrophe models in 2007 have updated their demand surge assumptions and industry exposure levels, resulting in an increase in estimated average annual losses, according to Fitch Ratings Hurricane Season 2007: A Desk Reference for Insurance Investors.Because catastrophe losses fell…
What’s New: In Brief (June 15, 2007)
June 15, 2007 by Canadian UnderwriterVito Pisano, an agent with Allstate Insurance Company of Canada, spoke recently at Alexander MacKenzie High School as part of MADD Canadas Mind Controla multimedia show for the Youth Assembly Program being presented at high schools across the country.The program…
Alberta introduces Insurance Act amendments, changes limitation periods
June 15, 2007 by Canadian UnderwriterThe Alberta government on June 12 introduced Bill 42, which contains a number of changes to the provinces Insurance Act including an extension of the limitation period for a policyholder to claim against an insurer from one to two years.The…
Insurance agents challenge RIMS on contingent commissions
June 14, 2007 by Canadian UnderwriterThe National Association of Professional Insurance Agents (PIA) in the United States has criticized a statement issued by the Risk and Insurance Management Society (RIMS), saying the groups position on incentive compensation undermines the free enterprise system.RIMS, the nations largest…
MPI to hold the line on auto rates
June 14, 2007 by Canadian UnderwriterManitoba Public Insurance (MPI) is proposing to hold the line on auto insurance rates next year and provide its customers with a Cdn$49-million rebate in the spring.The public insurer has filed an application with the Public Utilities Board (PUB) proposing…
What’s New: In Brief (June 14, 2007)
June 14, 2007 by Canadian UnderwriterGreg Knowles has been appointed to vice president, marine manager for Canada at CNA. In addition to leading the marine book of business, Knowles will be responsible for developing, supporting and executing new initiatives including construction and HealthPro. He has…