Industry
New legislation aimed at providing a legal recourse for a child who sustains prenatal injuries as the result of the negligent driving of his or her mother was recently introduced in the Alberta Legislature. Current law already allows a child – after birth – to sue his or her father, another family member or any […]
November 30, 2005
2 min read
Allianz A.G. Holding recently reported that its net income increased by 78.1% to 3.51 billion euros for the third quarter of 2005 compared to the same period last year. Allianz restated its figures for the third quarter of 2004 under International Financial Reporting Standards. The marked profit growth is a result of operating improvements in […]
1 min read
The past year has resulted in the financial strengthening of the property & casualty insurance market however A.M. Best Co. recently released a report warning that it will take several more profitable years for the full balance sheet to be truly replenished after the softening of the market as the industry is still overcoming a […]
Pet insurance revenues in North America have jumped 23% since 2004, according to the new report “Market Trends: Pet Insurance” published by the market researcher Packaged Facts. This growth is expected to continue over the next five years and Packaged Facts projects that by 2010, the pet insurance market in the U.S. and Canada will […]
What’s Canada’s most-stolen car?The Honda Civic seems to be the most popular vehicle of choice for car thieves, according to a list released by the Insurance Bureau of Canada (IBC).Canada’s national trade association of the P & C insurance industry announced today that the 1999 and 2000 Honda Civics SiR 2-door hold the dubious distinction […]
By Canadian Underwriter | November 30, 2005
Property and casualty insurer Zurich recently announced several senior management appointments for its North America commercial division, including Steve Rand as executive vice president of commercial markets.The division includes the company’s construction, middle markets, surety, Canadian commercial and energy casualty businesses in North America. Rand has relocated to Zurich’s Schaumburg office and reports to Axel […]
By Canadian Underwriter | November 29, 2005
The Insurance Brokers Association of B.C. (IBABC) will urge the B.C. provincial government to include restrictions on credit scoring in the next Insurance Act, contrary to what Canadian Underwriter recently posted on its News Daily Web site, according to Chuck Byrne, executive director of the association.Earlier this year, the organization tabled a brief on the […]
Transport Canada is testing an electronic nagger in an attempt to gain control over speeding on Canada’s roadways and encourage drivers to slow down. A nagger uses GPS technology to make the accelerator hard to press when a driver exceeds a fixed percentage of a posted speed limit. The devices are loaded with a digital […]
XL Capital says it expects to record a net charge of approximately US$830 million in the fourth quarter of 2005 following finalization of a draft report of an independent actuary (IA) appointed in connection with the company’s acquisition of Winterthur International in 2001.XL bought Winterthur International from Winterthur Swiss Insurance Co. for US$330 million in […]
By Canadian Underwriter | November 28, 2005
Markel International, the international property and casualty insurer, has announced the first official day of trading for its Canadian branch, MINT Canadian Specialty Underwriters (MCSU), located in Toronto.Markel Corporation markets and underwrites specialty insurance products and programs for a variety of niche markets. MCSU will write business through Markel Syndicate 3000 at Lloyd’s. Initially, MCSU […]
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