Segment
Reinsurance
Lloyd’s CEO calls for sustainable Canadian results
September 20, 2007 by Canadian UnderwriterThe Canadian insurance industry needs to strive for pricing consistency, Richard Ward, Lloyds CEO, told a crowd at the Risk and Insurance Management Societys conference in Halifax.Ward discussed contract certainty and claims management initiatives that Lloyds has taken to improve…
A.M. Best predicts “prolonged” soft market for Canada
September 19, 2007 by Canadian UnderwriterA prolonged soft market may lie ahead for the Canadian property and casualty insurance market, according to a special report by A.M. Best.There’s no room for complacency as Canadian property/casualty insurers enjoy another solid year, the ratings agency wrote in…
What’s New: In Brief (September 18, 2007)
September 18, 2007 by Canadian UnderwriterDalhousie University in Halifax was home to a sea of nervous faces at the RIMS Canada conference Sept. 18, as students tested their skills playing Risk, a classic game of strategy, for their chance to win a $5,000 bursary from…
Insurance companies sign up to tackle climate change
September 13, 2007 by Canadian UnderwriterSixteen insurance companies have signed up to be a part of a major initiative to tackle climate change and encourage more climate-friendly customer behaviour. Leading global insurers, reinsurers, brokers and Lloyds of London developed the principles behind ClimateWise to promote…
“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…
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…
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…
Global reinsurance sector remains stable
September 10, 2007 by Canadian UnderwriterThe global reinsurance sector continues to remain stable, according to a Fitch Ratings Report, Reinsurance Review and Outlook: Conditions and Trends Support Stable Ratings. For non-life reinsurers, premium rates and underwriting terms and conditions are sufficient to produce near-term underwriting…
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…
What’s New: In Brief (September 07, 2007)
September 7, 2007 by Canadian UnderwriterAllstate Insurance Company of Canada has donated $1,000 to the Association for Persons with Physical Disabilities (APPD) as part of its Trusted Community Partner Program. Allstate Insurance Company of Canada is extremely pleased to be able to make a donation…
Reinsurance rates in Canada decreasing
September 5, 2007 by Canadian UnderwriterIn its annual review of the worldwide catastrophe insurance market, Guy Carpenter & Company, LLC researchers noted 2007 reinsurance rates decreased 2%, compared to a 32% increase in 2006.The hurricanes of 2005 had no obvious impact on Canadian markets, however,…