Industry
Just as U.S. p&c insurers disclose fourth quarter reserve charges, Moody’s Investors Service says the industry remains woefully under-reserved.In a study of the top 50 p&c insurers and reinsurers, Moody’s noted that commercial liability lines continue to be significantly under-reserved this includes workers’ compensation, medical malpractice, commercial multi-peril and general liability, and excess of loss […]
By Canadian Underwriter | February 2, 2004
2 min read
Hoping to stem the tide of auto insurance reform in Quebec, the Insurance Bureau of Canada (IBC) has launched a new website to discuss why the system should not be changed.The site, www.impactnofault.com, is intended to educate Quebec residents about what changing the current system a mix of government and private coverage could potentially mean, […]
For many years, brokers have sought technology that could seamlessly integrate sales-side systems with financial service carrier back-offices. This "holy grail" of broker technology is not merely a distant dream - it is available today.
By Lee Slack | January 31, 2004
4 min read
A survey conducted by the Insurance Information Institute (III) of the 250 insurance management attendees of its annually held Joint Industry Forum (JIF), which this year’s event recently took place in New York, suggests that four out of five U.S. industry executives believe that profitability within the insurance community will be stronger this year than […]
By Sean van Zyl, Editor | January 31, 2004
8 min read
Each month of this special 70th anniversary year, Canadian Underwriter will look back at a pivotal period in the industry's history. These are the people, events and issues that have shaped Canadian Underwriter and the insurance industry for seven decades.
January 31, 2004
TD Bank’s insurance arm, Meloche Monnex, has acquired the Canadian personal lines book of Liberty Mutual, a subsidiary of the Boston-based Liberty Group. The terms of the deal were not disclosed. Meloche Monnex, which sells personal home and auto insurance as TD Insurance Home and Auto as well as under its own name, will as […]
Fairfax’s Fairmont Specialty Group Inc. – which includes the remaining business of former subsidiaries TIG Insurance Group and Ranger Insurance Group – says U.S. regulators have given a “thumbs up” to the company’s structure and capitalization. The announcement prompted rating agency A.M. Best to place under review with developing implications the financial strength ratings of […]
1 min read
The Insurance Brokers Association of Canada (IBAC) kicked off its annual BIP advertising campaign last month at the Canadian National Figure Skating Championships. The well-received “Blanket-Anthem” television spots will run from January 5 to the end of May 2004 on a variety of shows in both English and French. “The more frequently the logo appears […]
3 min read
When David Patrick took over the top spot at the Centre for Study of Insurance Operations (CSIO) eight months ago, it was an organization in need of an overhaul. Its major undertaking, the internet portal to link brokers and insurers, was over budget and off track. But, Patrick relishes the role of the "turnaround artist" and says with the renewed support of all within the insurance industry, the CSIO portal will become reality.
By Vikki Spencer | January 31, 2004
6 min read
In his annual “state of the province” address, New Brunswick Premier Bernard Lord took a shot at auto insurers and hinted at further reforms to come for the province’s system. While Lord noted that almost $23 million in rebates have been handed out to New Brunswick drivers since last summer, he says, “Insurance companies are […]
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