Industry
It is best not to assume that a home insurance policy offers adequate protection for a person whose home serves as both a place to live and a place to work. “If anyone, from a messenger to a customer, is hurt on your property while conducting anything related to your business, your home insurance policy […]
By Canadian Underwriter | July 31, 2012
1 min read
Statistics Canada notes that police-reported, non-violent crimes such as break-ins and auto theft declined last year. “Police reported more than 181,000 break-ins in 2011,” Statistics Canada reported in its July 24 issue of The Daily. “The rate of break-ins was 9% lower than in 2010 and 42% lower than a decade earlier.” Four out of […]
By Canadian Underwriter | July 30, 2012
Fifty-four per cent of 1,000 renters surveyed by Allstate said it would take three or more years to replace everything they lost if they didn’t have insurance, and yet only 45% of renters taking part in the poll have a renter’s insurance policy to protect their personal possessions and collectibles. Only about a third of […]
Beyond Insurance Brokers Inc. has opened a new office in Thunder Bay, Ontario. The new location on Roland Street, which operates under the name Beyond Insurance (Superior) Inc., means the company’s insurance services will be available to the northern parts of Ontario under the management of Trish Krawec. Krawec has more than 20 years of […]
Caroline Schweppe has joined ClearRisk Inc.’s leadership team as new vice president of business development in Ontario. Schweppe has 20 years of experience as a marketing and business development executive, with more than 10 years working with IT start-ups within the Canadian and U.S. financial services industry. Her former industry positions include president of Carosch […]
Sluggishly low interest rates and the ongoing European debt crisis have prompted more insurance companies to look at boosting their returns through potentially riskier investment vehicles, says a survey of chief investment officers (CIOs) by Goldman Sachs Asset Management (GSAM). The poll of CIOs of 152 global insurers representing $3.8 trillion in assets found that […]
By Canadian Underwriter | July 27, 2012
2 min read
Danielle Boulet is stepping down as chair of the Canadian Council of Insurance Regulators (CCIR) after three years of service, according to a post on the CCIR’s website. Carolyn Rogers, CCIR vicechair and CEO and superintendent of the Financial Services Commission of British Columbia, has agreed to act as interim chair of CCIR until the […]
Co-operators General Insurance Company reported a consolidated net income of $64.4 million in 2012 Q2 compared to $26.4 million for the same quarter in 2011. For the first six months of the year, net income is $130.9 million, an increase of $78.7 million from the same period last year. “Earnings in the second quarter were […]
Fairfax Financial Holdings Limited announced net earnings of $95 million in 2012 Q2, compared to net earnings of $83.3 million during the same period last year, reflecting improved underwriting results and lower losses on repurchase of long term debt. The combined ratio of Fairfax’s insurance and reinsurance operations in 2012 Q2 was 97.5% on a […]
A new report from the C.D. Howe Institute argues the accountability and effectiveness of credit rating agencies (CRAs) in Canada are in need of major reform, including elimination of regulatory reliance on the rating process. “In Canada, the European Union and the United States, policymakers have opted for registration systems,” Stéphane Rousseau, chair in business […]
By Canadian Underwriter | July 26, 2012
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