Industry
Most Manitoba Public Insurance (MPI) customers will pay the same, or potentially less, for auto insurance next year, MPI has announced.All customers who paid for auto insurance in 2006-07 will receive a 10% rebate as per a ruling by the Public Utilities Board (PUB), according to an MPI release. This is the ninth year in […]
By Canadian Underwriter | November 27, 2007
1 min read
Ontarios superintendent of financial services should review the use of the verbal threshold for establishing serious and permanent injury and/or the use of a Cdn$30,000 deductible to discourage plaintiffs from pursuing smaller auto negligence claims, according to the summary of findings in the Civil Justice Reform Project.The author of the Civil Justice Reform report, former […]
Premiums across all financial, executive and professional lines of insurance are decreasing to the levels seen in 1999 and 2000 the low point of the last soft market, according to a Willis Group Holdings survey of London market insurers.Underwriters surveyed said average premium discounts for financial institutions were 10%, a Willis release says.In D&O liability […]
By Canadian Underwriter | November 22, 2007
Pricing and claims trends in Canadas property and casualty industry over the past year suggest Canadian insurers will see a Cdn$1-billion drop in net income between 2006 and 2007, according to KPMG senior manager Blair Manktelow.Speaking at KPMGs 16th annual insurance conference in Toronto, Manktelow predicted Canadian insurers would collectively bring in a 2007 net […]
2 min read
The red-hot economy in Western Canada is posing challenges of increasing claims costs and talent retention issues for insurers, Diane Brickner, president and CEO of Peace Hills Insurance Company, told delegates of the North American Insurance Conference, in Tampa, Florida.While the current labour shortage in Alberta has made it difficult for insurers to find and […]
By Canadian Underwriter | November 21, 2007
The surge in costly in protection and indemnity (P&I) pool claims in 2006 could be a sign of the times, as booming shipping operations become more expensive, according to Aons P&I Pre-renewal Report 2007. In anticipation, P&I clubs are already initiating increases of 10-20% in shipowners premiums at the next renewal, Aons report notes.The high […]
By Canadian Underwriter | November 20, 2007
The Canadian Collision Industry Forum (CCIF)s initiative to create a national accreditation program is proceeding apace, according to an update of the CCIFs October 2007 meeting in Calgary.Following on the heels of insurer-driven accreditation programs, the CCIF has established a working group to design a national accreditation program “by the industry, for the industry.” Thus […]
Gore Mutual Insurance Companys Gore Mutual Foundation donated in late October a total of more than Cdn$100,000 to 12 local charities.The charities included: United Way of Cambridge & North Dumfries; KidsAbility Foundation; Cambridge Shelter Corporation; Cambridge and District Humane Society; Bereaved Families of Ontario (Midwestern Region); Womens Crisis Services of Waterloo Region; Grand River Conservation […]
Expect more insurance companies to join the global wave of outsourcing of the management of general account investment assets, up to the tune of US$1.9 trillion by 2011, according to the asset management firm State Street.According to a study cited in State Streets Vision 2007 paper on the global insurance industry, approximately 69% of insurance […]
By Canadian Underwriter | November 19, 2007
The Insurance Brokers Association of Canada (IBAC) is supplying 4,000 magenta blankets featuring the BIP logo to patrols across Canada, part of a new partnership with the Canadian Ski Patrol System (CSPS). The BIP logo – or the logo promoting insurance brokers – represents a stylized human figure, wrapped in a symbolic blanket, indicative of […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
