Industry
ING Group recently filed with the U.S. Securities and Exchange Commission to issue $1 billion in debt securities.The offering was disclosed on December 2 in a prospectus supplement that is a new form filed as a automatic shelf registration (ASR) statement.The underwriters for this offering include: ING Financial Markets; Merrill Lynch & Co.; Morgan Stanley; […]
By Canadian Underwriter | December 6, 2005
1 min read
A recent survey of reinsurers’ statutory underwriting results reports that a group of 26 U.S. P&C reinsurers wrote $18.8 billion of net premiums during the nine months ended September 30, 2005.The survey, conducted by the Reinsurance Association of America (RAA), indicated a combined ratio of 124.1% for the group of reinsurers’ compared to the combined […]
By Canadian Underwriter | December 2, 2005
A more principle-based method of regulating firms and a reduction in the cost and burden of regulatory rules is on the agenda for the UK’s Financial Services Authority.”Currently our approach to regulation is a hybrid of high-level principles and detailed rules and guidance,” John Tiner, FSA chief executive, says. “While this broad structure is both […]
Now that the NHL season has begun in earnest, let me ask brokers what the selling process more closely resembles – figure skating or hockey? I believe many salespeople think of it as a graceful solo sport. Here’s what often happens. You do your routine, hoping your technical skills will impress the judges. After your […]
By Randy Schwantz, President of The Wedge Group | November 30, 2005
4 min read
Insurers and policyholders need to make sure they both understand what they mean when they use the term "value." A plethora of Canadian court cases indicates the term may not have as obvious a meaning as we would like to believe...
By Frank Cain, Michael Palermo & Associates Insurance Ltd. | November 30, 2005
6 min read
TIC Celebrating 50 Years
November 30, 2005
The Insurance Bureau of Canada says that after several tough years of negative media coverage, it's time to start re-telling positive stories about the P & C insurance industry. Refocusing on the industry's longstanding tradition of injury prevention and safety promotion, the IBC is committed to "leading the charge to restore an image that we believe has been unfairly tarnished."
By Mary Lou O'Reilly, Vice president of public affairs and marketing at the Insurance Bureau of Canada | November 30, 2005
A KPMG seminar in Toronto heard deductibles and regulated caps have done what the insurance industry expected - decreased bodily injury and auto collision claims nationwide. But litigators warn they are looking for ways to erode the deductibles and caps.
By David Gambrill | November 30, 2005
5 min read
Regulators are in a tough spot. They must represent the interests of all; at the same time, they must issue laws that restrict or expand the rights of a few. Regulators are therefore mindful that they do not give opponents any ammunition for potential conflict of interest accusations prior to issuing policy directives or laws. […]
By David Gambrill, Editor | November 30, 2005
Insurance industry association codes that outline best practices for disclosing income and potential conflicts of interest may not go far enough, according to a recent report released by the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance Services Regulatory Organizations (CISRO). The report by the regulators’ Industry Practices Review Committee (IPRC) contains no […]
2 min read
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