Quebec auto insurance posts growth in 2005
April 7, 2006 by Canadian UnderwriterThe Qubec automobile insurance industry posted further growth in 2005, reporting an overall operating income totalling 16.8% of earned premiums up slightly from the 16.6% generated in 2004.Losses in 2005 (3.0%) grew at a slower pace than earned premiums (3.2%),…
National Broker Survey: Signs of Softening
April 1, 2006 David GambrillInsurance brokers across the country are enjoying a refreshing period of quiet, stable markets. At the same time, Canadian brokers, faced with gradually declining rates – particularly in commercial and residential lines – are waiting for the proverbial other shoe…
Masters of Disasters
April 1, 2006 David GambrillPreparing for a deluge of cat claims
Exposures emphasized in new CAT risk ratings
March 21, 2006 by Canadian UnderwriterStandard & Poor’s Ratings Services says it will be revising its criteria for measuring catastrophe risk for primary insurers early in the second quarter of this year. S&P’s says however, that it has no current plans to further revise criteria…
Learning the Hard Way
January 1, 2006 AxiomWell Dave, it doesn’t look as we’ll be getting to the West Coast tonight after all.” My boss Fred Wilson and I were walking towards the airport lounge. We had been sitting together on a plane when, halfway to our…
Reinsurance Outlook 2006 Post-Katrina
November 1, 2005 by Canadian UnderwriterHurricane Katrina has reinsurers talking about how to handle record-breaking catastrophe losses as the 2006 renewal season begins. Already there is talk of price hikes and signs of public share offerings. How much of this is a long-term reaction to losses arising out of hurricanes, and what other issues face the reinsurance market as we enter the Post-Katrina world? We’ve asked 11 prominent reinsurance contributors to answer these questions and more.
Reinsurers may be downgraded after Katrina: Moody’s
September 15, 2005 by Canadian UnderwriterMoody’s Investors Service says reinsurers with “outsized exposure” to Hurricane Katrina damage in New Orleans, or to the city’s hard-hit industries such as energy or gaming, “could face rating downgrades, particularly if they do not recapitalize quickly.”The recently released Moody’s…
Aon and Willis lead the broker comeback
August 18, 2005 by Canadian UnderwriterIn the wake of recent investigations into contingency commissions and bid rigging initiated by New York Attorney General Eliot Spitzer, brokers Aon Corp. and Willis Group Holdings Ltd. have managed to successfully restructure their business practice and successfully pull themselves…
Bad weather increases risk of auto injury
August 1, 2005 by Canadian UnderwriterBad weather driving conditions result in a 70% increased risk of injury-related auto collisions between urban Canadian drivers, according to a report recently released by the Institute for Catastrophic Loss Reduction (ICLR). Presented by Jean Andrey, associate dean of geography…
Bad weather conditions increase auto injury risk by 70%
June 30, 2005 by Canadian UnderwriterBad weather driving conditions result in a 70% increased risk of injury-related auto collisions between urban Canadian drivers, according to a report recently released by the Institute for Catastrophic Loss Reduction (ICLR).Presented by Jean Andrey, associate dean of geography at…
AIG admits Gen Re transaction improperly accounted for
March 30, 2005 by Canadian UnderwriterAIG admitted Wednesday that finite reinsurance transactions dating back to 2000-2001 with Berkshire Hathaway’s Gen Re was improperly documented, and at the same time said it would be even later in filing its 10-K annual financial reports.AIG says it will…
Boosting Workflow Efficiency
February 1, 2005 Caroline Kennedy, and Catherine TrimbleNew Year’s resolutions often revolve around personal goals and objectives such as losing weight, getting in shape, buying that big screen plasma or LCD television, a new car, etc. This is also a great time of year to take stock of your business goals and objectives.