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Anthony Clark International Insurance Brokers has named Patti Runnalls to its board of directors. She is a chartered accountant and controller for Onyx Energy Inc. U.S. insurers are unimpressed with a draft “best practices” document produced by the National Association of Insurance Commissioners (NAIC) credit scoring working group. Amongst other things, the Property Casualty Insurers […]
By Canadian Underwriter | July 11, 2004
1 min read
Property & casualty insurers have seen a combination of underwriting discipline and capital management lead to lower earnings volatility in 2003, according to an annual study by international broker Aon Corp.The study measures earnings volatility over one, two, three and five-year periods ending December 31, 2003, and includes more than 60 publicly traded insurers and […]
By Canadian Underwriter | June 27, 2004
Insurance Corp. of B.C. has paid out $4.4 million in tax grants to communities, which the Crown corporation does in lieu of paying real property and business taxes. Thirty communities received grants of between $10,000 to $1 million. Those communities contain ICBC claim centers, administrative offices, and storage and salvage yards, and ICBC says the […]
No link can be found between the presence of dampness and mold in homes and the variety of serious health problems being claimed in court cases, suggests a new report by the Institute of Medicine (IOM) of the National Academies, commissioned by the Centers for Disease Control and Prevention.A link was found between mold or […]
By Canadian Underwriter | May 27, 2004
2 min read
Individuals arrested Sunday in Flamborough, Ontario, in a police raid of what is being reported as possibly one of the largest chop-shop operations in Ontario history, are said to have close ties to a Cambridge used auto parts shop accused of fronting the stolen goods, according to police.Found in police raids on the farm property […]
By Canadian Underwriter | May 19, 2004
With the release of U.K.-based Royal & SunAlliance’s first quarter 2004 results, the company is reporting improvement in its Canadian operations.Remedial action at the Canadian operation has led to a seven-point improvement in the combined ratio since first quarter 2003, dropping down to 101.7% for the most recent quarter.”Both household and property accounts have benefited […]
By Canadian Underwriter | May 13, 2004
Despite strong profits achieved by U.S. property & casualty insurers in 2003, reserving issues continue to plague the industry, leading Standard & Poor’s to maintain its “negative” outlook on the commercial sector.Although commercial insurers added more than US$40 billion to reserves in 2002 and 2003, they also released US$5 billion for the new 2002 accident […]
By Canadian Underwriter | May 11, 2004
A study of credit scoring undertaken by several U.S. states is moving forward despite opposition from various insurer groups.The Property Casualty Insurers Association of America (PCI) confirms major personal lines carriers have already received initial calls from insurance departments this week.”From the limited information regulators have shared with us, this study appears to be a […]
By Canadian Underwriter | May 6, 2004
U.S. insurers will likely face an insured cost of US$963 million for the first quarter of this year with regard to catastrophe related property claims, according to preliminary data released by the New York-based Insurance Services Office Inc. (ISO). The latest quarter’s tally is significantly less than the US$1.5 billion cat loss made over the […]
April 30, 2004
U.S. insurers and reinsurers are encouraging legislators not to increase the amount companies would contribute to a national asbestos litigation fund that could be established under Senate bill S.2290. Insurers made the appeal in a joint statement from the National Association of Mutual Insurance Companies (NAMIC), the Property Casualty Insurers Association of America (PCI) and […]
By Canadian Underwriter | April 18, 2004
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