Claims
Albertas auto insurance rate grid is not up for discussion, and the particular grid rates for the cities of Edmonton and Calgary will not change as a result of the Alberta Automobile Insurance Rate Boards premium review, now underway, the provinces superintendent of insurance, Dennis Gartner, told the Insurance Brokers Association of Alberta (IBAA) in […]
By Canadian Underwriter | May 15, 2007
2 min read
The Insurance Bureau of Canada (IBC) is sponsoring a symposium to discuss how to reduce the number of drivers on the road who are overtired. Police are able to pull over and charge those who are intoxicated, but there are no laws in place for those who are exhausted, the IBC noted in a press […]
By Canadian Underwriter | May 14, 2007
1 min read
The Insurance Corporation of British Columbia (ICBC) has issued a statement warning BC drivers to prepare and beware of flooding. According to BCs Ministry of Environment, warmer temperatures and snowmelt combined with high volume precipitation could increase the risk of rising water in the coming weeks. ICBC recommends finding a safe location on high ground […]
By Canadian Underwriter | May 10, 2007
The Intergovernmental Panel on Climate Change (IPCC) points to changes in insurance practices as an indirect form of climate change policy in its its fourth report, Climate Change 2007. According to the panel, there is growing evidence that decisions concerning insurance practices, as well as macroeconomic policy, electricity market reform, energy security and forest conservation, […]
By Canadian Underwriter | May 8, 2007
The Institute for Catastrophic Loss Reduction (ICLR) is unveiling a winter storm- and tornado-resistant home in Edmonton, Alberta.The home retrofit includes: anchoring cabinets, office equipment and bedroom furniture to walls; bracing TV stands, televisions and refrigerators with appliance straps; outfitting the washing machine with armoured water supply hoses; anchoring the hot water heater; installing snow […]
By Canadian Underwriter | May 7, 2007
AIR Worldwide Corp, a global risk modelling company, has teamed with the International Hurricane Research Center (IHRC) to fund the AIR Turntable for the centres hurricane simulator.The AIR Turntable is a computer controlled, mechanical platform which will be used to evaluate extreme wind loading conditions by facilitating the testing of buildings at different angles of […]
Standard & Poor’s Ratings Services has raised its counterparty credit and senior debt ratings on Arch Capital Group Ltd. (NASDAQ:ACGL) to ‘BBB+’ from ‘BBB’. At the same time, Standard & Poor’s raised its counterparty credit and financial strength ratings on operating subsidiaries Arch Reinsurance Ltd., Arch Reinsurance Co., Arch Insurance Co., Arch Specialty Insurance Co., […]
By Canadian Underwriter | May 4, 2007
Manulife Financial Corporation has reported 2007 Q1 earnings of US$986 million, including a one-time charge of US$69 million related to an asset realignment undertaken to more appropriately position Manulife Financials assest under the new financial accounting standards that became effective Jan.1, 2007.Excluding the impact of the one-time-only cost, Manulifes net income was US$1.055 billion, and […]
By Canadian Underwriter | May 3, 2007
Risk managers are accustomed to taking steps to protect their businesses from fires and floods, but are beginning to consider other, less tangible risks, A.M. Best reportsIn addition to traditional risks, risk managers are focusing on their companys economic, social and environmental impacts, as well as changing government regulations worldwide, the ratings agency reported in […]
Crawford & Company (NYSE: CRDA; CRDB), an independent provider of claims management solutions to insurance companies and self-insured entities, announced a 2007 Q1 profit of US$3.3 million compared to net income of US$5.8 million for the 2006 first quarter. The company announced 2007 Q1 consolidated revenues (before reimbursements) totaling US$243.6 million compared to US$201.6 million […]
By Canadian Underwriter | May 2, 2007
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