Industry
A pandemic today is not likely to be as severe as that of the 1918 Spanish Flu, according to a report by Munich Re. “The conclusion drawn in the current issue of Topics (1/2007) is that today, due to medical and technical advances, the mortality rate in the event of a pandemic would be much […]
April 30, 2007
1 min read
The Autorit des marches financier (AMF) has reached an agreement with RBC General Insurance Company to close a file concerning the compliance of statistical data. The AMF recommended improve-ments to the procedure for the collection and transmission of the required information in order to ensure better supervision – particularly with regard to the reliability and […]
The Chubb Corporation [NYSE: CB] reported 2007 Q1 income of US$710 million, compared to a 2006 Q1 income of US$672 million. Net written premiums for 2007 Q1 declined 2% to US$2.9 billion. Premiums for the insurance business increased 1%; they decreased 1% in the United States and increased 7% outside the U.S. (1% in local […]
The Saskatchewan Auto Fund in 2006 enjoyed its second-strongest year on record, posting a Cdn$101-million surplus and contributing to a record-level Cdn$206-million balance in the Rate Stabilization Reserve (RSR). The Saskatchewan Auto Fund is a self-sustaining, compulsory auto program administered by SGI on behalf of the government.The 2006 financial results caused SGI to return an […]
By Canadian Underwriter | April 27, 2007
2 min read
Mooney Insurance Ltd. and Rogers Insurance Ltd. have teamed up to allow both firms to better service existing clients and to realize new business opportunities.The strategic alliance involves a minority equity investment in Red Deer, Alberta-based Mooney by Calgary-based Rogers Insurance, a Rogers release says.I believe this strategic alliance means a great future for our […]
Willis Group reported a net income of US$169 million [approximately Cdn$189 million] for 2007 Q1, as compared to US$140 million [approximately Cdn$156 million].Each business unit contributed to overall organic growth in commissions and fees in the first quarter, with global at 3%, North America at 6% and international at 8%, according to a Willis statement.For […]
By Canadian Underwriter | April 26, 2007
Workforce demographics represent a major issue looming over the horizon, according to five senior executives sitting on the CIP Symposium 2007s leadership panel in Toronto.Silvy Wright, the president and CEO of Markel Insurance Company of Canada, says she has often heard people in the insurance industry tell stories of how they simply fell into the […]
By Canadian Underwriter | April 25, 2007
Given that litigation against insurers is on the rise in Canada and the countrys courts have responded with unpredictable decisions regarding policy coverage it is critical for insurance claims and underwriting departments to be in constant communication, a seminar leader told the CIP Society Symposium 2007 in Toronto.Irene Bianchi, the vice president of claims and […]
One of the key hiring mistakes insurers and other employers make is not to recognize the different expectations of Generation X and Y employees, according to Andrea Plotnick, the national expertise director of organizational effectiveness at the Hay Group.Plotnick was speaking at a CIP Symposium 2007 seminar about succession planning. She noted Generation X employees […]
In celebration of its 20th anniversary on the New York Stock Exchange (AOC:NYSE), Aon Corporation has signed up to be a part of the People Helping People program, and has pledged to build a series of playgrounds across Canada.While the initiative is a global one, in Canada the company partnered with PlayPower Inc. and local […]
By Canadian Underwriter | April 24, 2007
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