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What’s New: In Brief (March 12, 2007)

March 12, 2007 by Canadian Underwriter

La Capitale General Insurance has enhanced the scope of its recreational vehicle insurance, now offering watercraft and caravan/motorhome insurance (all types) as a stand-alone insurance product.There is no obligation to obtain a home or automobile insurance contract in order to

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EQECAT launches new cat model for offshore energy

March 8, 2007 by Canadian Underwriter

EQECAT is launching a new Offshore Energy Model to help the insurance industry manage this risk.Details about the model will be discussed during EQECATs March 2007 Catastrophe Management Conference. EQECAT noted the storms of 2004-05 caused significant losses in the

News InsuranceMergers and Aqcuisitions

Royal & SunAlliance records 9% premium growth in 2006

March 8, 2007 by Canadian Underwriter

Royal & SunAlliance Canada reported a strong performance in 2006, with premium growth of 9% and a combined operating ratio of 92%.Royal & SunAlliance Canada reported an underwriting profit of Cdn$100 million, which is 75% above that of the previous

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Enhanced data collection for 2007 catastrophe modelling essential

March 7, 2007 by Canadian Underwriter

Enhancing data collection for catastrophe modeling is imperative for insurers and reinsurers in 2007, according to Ernst & Youngs Quarterly Insurance Industry Outlook.The 2004 and 2005 hurricane seasons revealed weaknesses in commonly used catastrophe risk modeling techniques, the report notes.

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What’s New: In Brief (March 07, 2007)

March 7, 2007 by Canadian Underwriter

ING Insurance Company of Canada is continuing to support the Broker Identity Program [BIP] as a full partner, the Insurance Brokers Association of Canada [IBAC] announced in a press release.IBAC launched the BIP program in 1989. More than 20 insurance

News Insurance

A.M. Best seeks input on risk management ratings methodology

March 7, 2007 by Canadian Underwriter

A.M. Best Company Inc. has put out a call for comments from market participants in the insurance industry and other interested parties on a draft of its Risk Management and the Rating Process for Insurance Companies.The draft methodology outlines how

News InsuranceMergers and Aqcuisitions

Some vehicles installed with immobilizers can be stolen: MPI

March 6, 2007 by Canadian Underwriter

Manitoba Public Insurance (MPI) has a new list of cars that are at the most risk of being stolen, according to a CBC report, and they include new cars that should have had electronic ignition immobilizers installed at the factory.The

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Risk map finds improved conditions for global filmmakers

March 6, 2007 by Canadian Underwriter

Economic and political risks across the globe have created a slightly more favourable environment for filmmakers seeking to film abroad, according to the 2007 Risks in Global Filmmaking Map, produced each year by Aon/ Albert G. Ruben.Of the 207 countries

News InsuranceMergers and Aqcuisitions

Web-based tool for insurers to assess drivers now available in North America

March 6, 2007 by Canadian Underwriter

CogniFit, Ltd., an organization that assesses and trains cognitive skills, is introducing a risk assessment tool designed for auto insurers to the North American market.DriveFit Premium is a Web-based interactive program for auto insurers to assess the cognitive, psychomotor and

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Report finds risk management a key priority in mining sector

March 6, 2007 by Canadian Underwriter

Global mining firms have ranked the implementation of enterprise risk management as a key risk challenge in the next three to five years, a new Ernst & Young report has revealed.Attitudes to Risk in the Global Mining Sector, a survey

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ING, Policy Works launch integrated exchange of commercial data

March 5, 2007 by Canadian Underwriter

ING Insurance Company of Canada and Policy Works Inc. have developed an integrated solution for exchanging commercial lines data. Data exchange has been common in personal lines insurance for some time, ING Insurance notes in a press release. But the

News Insurance

FM Global announces ’06 profit of US$737 milion

March 1, 2007 by Canadian Underwriter

FM Global reported a profit of US$737 million [approximately Cdn$864 million] in 2006, an increase from 2005s profit of US$635 million [approximately Cdn$744 million].According to an FM Global press release, the companys combined ratio was 75.3% and the client retention