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Restoration network Disaster Kleenup International (Canada) Ltd. has launched a software pilot program with Symbility Solutions Inc. The pilot is to determine the effectiveness of Symbility’s software in estimating property claims. The 60-day test begins on June 1. “By removing paper from the process and allowing estimates to be completed and transmitted on site, we […]
By Canadian Underwriter | April 25, 2005
2 min read
“Property and casualty insurers will see dramatic declines in core earnings power beginning as early as this summer and extending into 2006,” predicts a new study by insurance industry investment banking firm Cochran, Caronia Securities LLC.The study forecasts a shortening of p&c cycles, from the historical eight years to two or three years. The firm […]
By Canadian Underwriter | April 14, 2005
1 min read
Alex Kennedy, former CEO of the Property and Casualty Insurance Compensation Corporation (PACICC), has passed away at the age of 71.Kennedy was born in Scotland, and graduated with his Master of Arts and Bachelor of Laws from the University of Glascow. In Scotland, he was a member of the Law Society and gained experienced in […]
By Canadian Underwriter | April 13, 2005
2004 marks the first underwriting profit produced by U.S. p&c insurers in more than 25 years, a feat which boosted net income and surplus to record highs, according to date released by the Insurance Services Office (ISO) and the Property Casualty Insurers Association of America (PCI).2004 saw insurers bring in net income of US$38.7 billion, […]
By Canadian Underwriter | April 12, 2005
While traditionally audits have focused on the numbers, insurers are looking to understand the "why" and, more importantly, the "what to do about it" behind audits.
By Mike Laberge, president, Performance Imperative Inc. | March 31, 2005
6 min read
Property & casualty insurance pricing was flat in February, according to data compiled by Dallas-based electronic insurance exchange MarketScout.MarketScout’s survey, which involves its national distribution system of more than 50,000 agents, found the composite renewal rate “as expiring” in February. “This is the first time in over four years that renewals are being placed with […]
By Canadian Underwriter | March 10, 2005
B.C.’s public auto insurer is posting net income of $389 million for 2004, well above the $225 million reported in 2003.The Insurance Corp. of B.C. (ICBC) reported written premiums up to $3.09 billion in 2004, up from $2.96 billion in 2003. Earned premiums rose to $3.03 billion from $2.85 billion over the same comparative period.Claims […]
By Canadian Underwriter | March 6, 2005
A.M. Best has been granted “nationally recognized statistical rating organization” status by the U.S. Securities Exchange Commission (SEC). The status means Best ratings can be used to distinguish creditworthiness required under federal and state laws. A.M. Best is one of five rating agencies carrying the status, and currently carries over 600 ratings on securities issued […]
By Canadian Underwriter | March 3, 2005
The shutdown of Calgary, Alberta-based Suncor Energy Inc. following a fire in early January, could produce a significant insurance bill as the company announces it will not be back to full production until the third quarter of 2005. Suncor is part of OIL Mutual Insurance and sEnergy, insurance companies created by the energy industry. The […]
January 31, 2005
With increased competition in the property and casualty insurance industry, companies are looking for ways to improve efficiencies of staff and decrease operational costs.
By Rick Jackson, director of consulting at CGI Group Inc. | January 31, 2005
5 min read
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