Industry
Approved auto insurance rates indicate an average change of -0.13% in 2007 Q2 based on the entire market, FSCO reported on its web site. In the 2007 Q2, for the 31.12% of the market that had rate changes approved, the average rate change was -0.41%, when weighted by 2006 market share, FSCO reported in the […]
By Canadian Underwriter | July 30, 2007
1 min read
The Automobile Insurance Rate Board (AIRB) has decided to maintain premiums for mandatory auto insurance in Alberta at 2006 levels, based on the results of its annual insurance rate review.”Alberta consumers continue to have access to fair and affordable auto insurance,” AIRB board chair Alf Savage said in a press release. “Insurance premiums for mandatory […]
By Canadian Underwriter | July 27, 2007
Home, car and business insurers are reminding homeowners and tenants affected by the fire in south Edmonton to contact their insurance provider as soon as possible.This fire left many Edmontonians without a home and it’s important that they contact their insurance company promptly,” Jim Rivait, Vice-President, Prairies, Northwest Territories and Nunavut, Insurance Bureau of Canada […]
Summer months mean well-deserved vacation time, including lengthy absences from home that open the door for thieves, BCAA Insurance warns.BCAA Insurance says it receives the highest proportion of theft-related claims in the summer, followed closely by the Christmas holiday season.”According to break-and-enter reports, most intruders enter from a garage door, an unlocked side door or […]
By Canadian Underwriter | July 26, 2007
2 min read
Changes need to be made to the Albertas building codes to incorporate tougher governance on installation of siding, insurance and vinyl siding industries are saying after last weekends massive fire, The Edmonton Journal reports. As an incentive, insurance companies might consider implementing reductions in premiums for those homes equipped with safety features, Michael Debolt, public […]
By Canadian Underwriter | July 25, 2007
PartnerRe Ltd. has reported a 2007 Q2 profit of US$105 million, up from a profit of US$77.5 million in 2006 Q2.The global reinsurers 2007 Q2 combined operating ratio was 85.7%, down from the 90.3% it reported in 2006 Q2.Net premiums written in 2007 Q2 amounted to US$898.7 million, up 10% from US$815.9 million in 2006 […]
By Canadian Underwriter | July 23, 2007
The Autorite des marches financiers (AMF) is launching a penal proceeding in the Court of Quebec in the district of Montreal against Kingsway General Insurance Company.As a licensed insurer, the company faces 12 charges for failing to provide the Groupement des assureurs automobiles, as requested and in the prescribed form, the statistical data and information […]
By Canadian Underwriter | July 20, 2007
After serving the Canadian property and casualty insurance industry for 32 years, Stanley I. Griffin, president and CEO of the Insurance Bureau of Canada (IBC), has announced he will retire at the end of this year.Griffin joined the IBC in 1975, ultimately reaching the position of president and CEO in 2002, says an IBC release.IBC […]
By Canadian Underwriter | July 19, 2007
Transportation Property & Casualty Co., Inc. (TPCC) has been assigned a financial strength rating of A- (Excellent) by A.M. Best & Co.These ratings are the first to be assigned to a Canadian captive insurance company domiciled in Burnaby, British Columbia. These ratings are based on TPCCs excellent capitalization and operating performance and favourable profile as […]
By Canadian Underwriter | July 17, 2007
Canada’s first online brokerage EasyInsure.ca launched in April, according to a release. Direct insurance has been sold online quite successfully over the last few years, but the benefits of a brokerage, including the ability to pull rates from several sources, has not previously been available, the release noted.Ive spent 12 years in the industry and […]
By Canadian Underwriter | July 16, 2007
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