Industry
The Reinsurance Association of America has reported that the combined ratio for the carriers it represents improved to 78.9% in the first three months of 2013, from 95.6% during the first three months of 2012. RAA, a trade association of 19 property and casualty reinsurers in the U.S., said its members wrote $9.1 billion in […]
By Canadian Underwriter | July 8, 2013
2 min read
Major reinsurer Swiss Re has estimated it will have around $300 million in claims from the recent major flooding in central Europe. That estimate (in U.S. currency) is net of retrocession and before tax, the company said Monday. It also expects industry-wide insured losses from the flood events to be between $3.5 billion and $4.5 […]
1 min read
RBC Insurance will pay out claims related to sewer backup in the flood-hit areas of Alberta, despite its policies excluding that coverage, a Calgary newspaper reported Friday. According to a report from the Calgary Herald, some RBC Insurance policyholders will be receiving up to $50,000 for repairs. “Our decision is based on our ongoing evaluation […]
By Canadian Underwriter | July 5, 2013
Manitoba’s Portage Mutual Insurance is now offering eDocs capability for its broker partners, after more than a year of piloting and testing with its broker management system partners. “Portage Mutual has been involved with the implementation of eDocs since March 2012, and has steadily progressed from piloting with all of its BMS vendors to becoming […]
The Insurance Bureau of Canada is taking calls through its information centre related to the recent severe flooding in southern Alberta, the organization said Thursday. According to an IBC survey, about 5,000 insurance company personnel have been deployed to work on Alberta claims in this disaster situation. IBC’s information officer Frits Wortman has handled hundreds of […]
By Canadian Underwriter | July 4, 2013
New Brunswick’s consolidated financial services commission, which includes the regulatory authority for insurance, is now operational, barely a month after the government first introduced legislation to create the new body. The Financial and Consumer Services Commission, and independent organization, began operation July 1. The commission brings together the regulatory authorities for securities, insurance, pensions, consumer […]
Economical Insurance announced Wednesday it has made eDocs an option for its broker partners across Canada that are using certain broker management systems. The Waterloo, Ont.-based insurer said eDocs are now an option for those using the following systems: “Our brokers can now choose to receive electronic copies in the CSIO XML format of their personal […]
By Canadian Underwriter | July 3, 2013
Hub International Ltd. announced Wednesday it has acquired The Dorsey Group Inc. of Brantford, Ont. and Southeastern Insurance Services Ltd. of Steinbach, Man. Chicago-based Hub International, which was formed in 1998 through the merger of 11 Canadian brokerages, provides property and casualty, life and health, employee benefits and investment and risk management products. As of […]
Crawford & Company announced Wednesday that the management and adjusting team of Horizon Adjusters Ltd. has agreed to join Crawford’s Canadian operations effective Aug. 1. Bea Boutcher, president of Grande Prairie, Alta.-based Horizon, her team of five all-lines adjusters and a support staff team will all be joining Crawford Canada. The group has more than […]
After nearly eight years in the role, Lloyd’s of London chief executive Richard Ward will resign at the end of December this year. His decision was announced Wednesday by the Council of Lloyd’s, although no reason was given for Ward’s resignation. “It has been a huge privilege to lead this great institution, and I am […]
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