Segment
P&C Companies
Sceintists called on to counter bioterrorism risk
February 27, 2006 by Canadian UnderwriterIn a report released Feb. 27, “DNA for Peace: Reconciling Biodevelopment and Biosecurity,” experts at the Canadian Program on Genomics and Global Health (CPGGH), part of the University of Toronto’s Joint Centre for Bioethics (JCB), calls for a global network…
Guy Carpenter launches i-aXs platform
February 27, 2006 by Canadian UnderwriterGuy Carpenter & Company, Inc., a global risk and reinsurance specialist, has announced the development of a new online risk management platform, i-aXs, that is designed to reduce risk management analysis and reporting times from weeks to mere minutes.The new…
What’s New: In brief (February 27, 2006)
February 27, 2006 by Canadian UnderwriterThe Co-operators, have provided financial support to the Infant and Toddler Safety Association’s (ITSA) volunteer telephone hotline so that the Kitchener, ON-based, volunteer-run charity can, starting this month, offer expert child safety advice through their toll-free service. The Co-operators financial…
Replenishing reserves still a question mark
February 24, 2006 by Canadian UnderwriterEven though underwriting results for property and casualty companies globally have improved markedly over the past few years, the ongoing challenge of attaining ultimately adequate reserves remains, according to a recent report by Standard & Poor’s.“Insurers and reinsurers appear no…
After TRIA, what next for terrorism coverage?
February 24, 2006 by Canadian UnderwriterIn anticipation of the conclusion of TRIA’s extension in 2007, Aon Risk Services has been encouraging clients to maintain their relationships with insurers in the stand-alone terrorism insurance market, or with those that build added protection into their all-risks policies…
What’s New: In brief (February 24, 2006)
February 24, 2006 by Canadian UnderwriterCanada’s home, car and business insurers, along with Operation Red Nose and the Ontario Safety League, presented a cheque for $4,213.50 to the Women in Insurance Cancer Crusade (WICC).The money was raised by Operation Red Nose in Halifax, Nova Scotia…
2005 catastrophes break meteorological records
February 24, 2006 by Canadian UnderwriterAbout 400 natural catastrophes and man-made disasters in 2005 accounted for 97,000 deaths and damages totalling more than US$230 billion, according to a Swiss Re report. Insurance covered about one third, or US$83 billion, of the damages. In the previous…
XN Risk offers new law liability policy
February 23, 2006 by Canadian UnderwriterXN Holdings, parent company of XN Risk Insurance Services (Canada) Inc. recently launched a Law Firm Management Liability Policy designed address a wide range of liabilities law firms may confront from customers, suppliers, job applicants and employees, unrelated to the…
PXRE reports net loss of $446.5 million
February 23, 2006 by Canadian UnderwriterPXRE Group Ltd. (NYSE:PXT) recently reported a net loss before convertible preferred share dividends of $446.5 million for the quarter ended Dec. 31, 2005 compared to net income before convertible preferred share dividends of $32.8 million in the fourth quarter…
Insurers must adjust for more extreme weather: report
February 23, 2006 by Canadian UnderwriterThe insurance industry must compensate for extreme changes in the number of tropical cyclones and hurricanes by assuming a different loss distribution for the current warm phase of the natural climate cycle than in the years before, according to a…
Lloyd’s likely to feel impact of UK robbery
February 23, 2006 by Canadian UnderwriterThe multimillion-pound armed robbery of a storage depot in the United Kingdom near London is likely to be felt within Lloyd’s, which has a worldwide reputation for writing insurance for this kind of risk, according to a report by A.M.…
FM Global reports strong 2005 financial results
February 22, 2006 by Canadian UnderwriterFM Global’s 2005 financial results state that the commercial and industrial property insurer has realized a 14% increase in net income to US$635 million, representing the Copmany’s fourth consecutive year of strong results.In addition, FM Global;s policyholder surplus grew 18.8%…