Claims
The Canadian Hurricane Centre recently told Canadian Press that conditions are right for a turbulent close to the hurricane season.In an online posting, CTV cited a CP interview with Peter Bowyer of the Canadian Hurricane Centre in Dartmouth, N.S. CP cites Bower as saying meteorologists are currently watching unsettled weather off Florida that could spell […]
By Canadian Underwriter | September 4, 2007
2 min read
Insurance companies have reported increased claims frequencies and costs in Newfoundland and Labrador as a result of tropical storm Chantal in late July. The storm blasted the eastern third of the province with high winds and approximately 150 mm of rain earlier this week, washing out roads and causing extensive damage. IBC’s estimates of insured […]
August 31, 2007
1 min read
Fred Plant assumed the role of president of the Canadian Independent Adjusters Association during the Presidents Dinner at the associations annual general meeting and conference in Winnipeg. Miles Barber, immediate past-president, passed the presidential hat, noting Plant would bring insight and a fresh perspective to the job. Trust Fred, he said.Plant spoke of his enthusiasm […]
By Canadian Underwriter | August 27, 2007
PartnerRe Ltd. (NYSE: PRE) has announced that Partner Reinsurance Europe Limited, a wholly-owned subsidiary of PartnerRe Ltd., based in Dublin, Ireland, will, from Jan.1, 2008, be the principal reinsurance carrier for PartnerRe’s business underwritten in France, Ireland, Switzerland and Canada.Under the new European Union Reinsurance Directive, Partner Reinsurance Europe will be able to operate in […]
By Canadian Underwriter | August 22, 2007
Hurricane Dean, which is the first category five storm since 2005, ripped through Jamaica, Mexico and the Lesser Antilles, causing anywhere from US$0.75 billion to US$3 billion, based on estimates from Risk Management Solutions (RMS) and EQECAT. Dean was expected to track further north hitting Cancun and Cozumel, which, according to RMS, would have tripled […]
By Canadian Underwriter | August 21, 2007
Aviva PLC reported a hearty 25% increase in worldwide sales to 19.294 billion [approximately Cdn$41.14 billion] throughout the first six months of 2007.Its North American operations reported profits of 70 million [approximately Cdn$149.28 million], an Aviva statement says.Using 2007 exchange rates, the same period in 2006 profits sat at 78 million [approximately Cdn$166.33 million].The Groups […]
By Canadian Underwriter | August 14, 2007
A recent Minneapolis bridge collapse and New York steam pipe explosion, both of which collectively caused the deaths of at least six people and more than US$250 million in damages, has brought infrastructure liability to the fore, according to a report by KPMG.In its online publication, KPMG Insurance Insider, KPMG raises a number of insurance […]
By Canadian Underwriter | August 10, 2007
ING Canada Inc. (TSX: IIC) reported a 2007 Q2 net income of Cdn$194.3 million, down 5.7% from the Cdn$206 million it reported in 2006 Q2.The company said its growth in direct premiums written remained strong during the quarter despite overall rate reductions, amounting to Cdn$1.205 million (a 3.7% increase over the same period last year, […]
By Canadian Underwriter | August 8, 2007
General Motors (GM) has announced that it will be using a PPG basecoat system in all of its dealership repairs. The PPG Envirobase High Performance and Nexa Autocolor Aquabase Plus waterborne basecoat systems from PPG Automotive Refinish recently received the major automakers approval. Skilled technicians using the right materials offer the only path to true […]
By Canadian Underwriter | August 3, 2007
The Insurance Bureau of Canada (IBC) is urging residents of Newfoundland and Labrador to contact their insurance representatives after being battered by tropical storm Chantal.The storm blasted the eastern third of the province with high winds and approximately 150 millimetres of rain earlier this week, washing out roads and causing extensive damage.James Geuzebroek, IBC spokesperson, […]
By Canadian Underwriter | August 2, 2007
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