Segment
Risk Management
100% combined ratio “doesn’t cut it anymore:” Zurich executive
June 2, 2011 by Canadian UnderwriterA combined ratio (COR) of 100% no longer generates sufficient return on equity in today’s depressed investment environment, according to Urs Uhlmann, senior vice president and head of Zurich Global Corporate.“At the beginning, I said one hundred just doesn’t cut…
Establish a captive to augment risk operations, not to gain tax advantages
June 2, 2011 by Canadian UnderwriterCompanies should not be establishing captive insurance entities simply to capitalize on tax advantages, a number of speakers cautioned at the 7th Annual Canadian Captives & Corporate Insurance Strategies Summit, held in Toronto on June 1.“We’d like to emphasize that…
ClearRisk and IBAO partner to provide risk management planning to brokers
June 1, 2011 by Canadian UnderwriterClearRisk Inc. and the Insurance Brokers Association of Ontario (IBAO) have formed a strategic partnership aimed at bringing formalized risk management planning to IBAO members.Under the terms of the partnership, IBAO members are extended preferred pricing options for ClearRisk’s flagship…
Fifth year of falling insurance premium pricing in aerospace sector: Aon
June 1, 2011 by Canadian UnderwriterThe aerospace sector is in its fifth consecutive year of falling insurance premium pricing, with the trend expected to continue based on preliminary data for the 2011-2012 renewals, according to Aon Risk Solutions. “While the long term declines in premium…
Hurricane could increase strain on capital positions: FitchRatings
June 1, 2011 by Canadian UnderwriterA hurricane that makes landfall and generates substantial insured losses could represent a more material strain on a company’s capital positions, according to FitchRatings. Early forecasts predict above average hurricane frequency, with several landfalls anticipated along the U.S. coastline, Hurricane…
Predictive Fraud Fighting
June 1, 2011 Wes Gill and James D. RuotoloIntegrating social network analysis tools and predictive analytics into a broader fraud framework is key to an organization’s ability to detect fraudulent claims.
Touching the Cloud
June 1, 2011 Craig HarrisThe property and casualty insurance industry is in the early stages of discovering and applying cloud computing services. Many say a maturing market in cloud services could generate large returns in areas such as claims processing, collaboration and customer relationships.
Moves & Views
June 1, 2011 by Canadian UnderwriterAlister Campbell, CEO and chief agent of Zurich Canada, has been elected chair of the Property and Casualty Insurance Compensation Corporation (PACICC). Campbell has held his post at Zurich since October 2007. He has worked in the insurance industry for…
Scotch Nosing
June 1, 2011 by Canadian UnderwriterThe Honourable Order of the Blue Goose International, Ontario Pond held its 11th Annual Scotch Nosing on Apr. 27 at the One King West Hotel & Residence in Toronto. The evening started with cocktails in The Vault, followed by dinner…
Crawford & Company hosts dinner
June 1, 2011 by Canadian UnderwriterCrawford & Company (Canada) offered RIMS Vancouver delegates a little taste of Paris in the heart of downtown Vancouver. Brix Restaurant and Wine Bar set the stage for the evening. Guests mingled on the 1912 Yaletown heritage building’s glass-covered courtyard…
FirstOnSite Restoration’s RIMS luncheon
June 1, 2011 by Canadian UnderwriterFirstOnSite Restoration hosted a RIMS Vancouver luncheon at Joey Bentall One on May 3. On offer was FirstOnSite’s exclusive “Fire” martini; a luncheon buffet for invited guests; a chance to chat with members of FirstOnSite’s commercial division; and NHL hockey…
MarketPlace
June 1, 2011 by Canadian UnderwriterCanadian Market Mutual policyholders of The Economical vote against dissident proposal to replace board Mutual policyholders of The Economical Mutual Insurance Company voted 649-192 on May 26 against a motion that would have removed its current board of directors and…