Industry
Historical capital levels of Guy Carpenter’s Global Reinsurance Composite between 1998 and 2011 Q2 suggest reinsurance rates may soon be on the rise.As of 2011 Q2, the capital level of reinsurers grouped in Guy Carpenter’s Reinsurance Composite approached just over $160 billion, which is touching the trend line. When capital levels are above the trend […]
By Canadian Underwriter | November 23, 2011
1 min read
Auto claims increase 49% during the winter months between December and February, according to Aviva Canada’s annual statistics. Slippery roads, whiteout conditions and other weather-related factors contributed to more than $37.1-million auto collision claim payments made by the insurer during the winter of 2010, an Aviva Canada release says. The collision claim rate by insured […]
More than 50 public, private and not-for-profit organizations from across Toronto region have banded together to better protect the region’s residents, organizations, infrastructure and environment from extreme weather. The WeatherWise Partnership, convened by the City of Toronto and CivicAction, will identify risks and prioritize areas for action and investment by businesses, communities, organizations and governments […]
By Canadian Underwriter | November 22, 2011
2 min read
The Financial Services Commission of Ontario (FSCO) has released the 2012 indexation percentages for the Optional Indexation Benefit Guideline under both the old and new Statutory Accident Benefits Schedule (SABS). Under the new SABS (effective Sept. 1, 2010), the indexation percentage is 3.2%.Under the old SABS (applicable for accidents on or after Nov. 1, 1996), […]
InsurEye Inc. has launched an online service for Canadian consumers allowing them to compare their insurance spending with their peers. InsurEye collects, validates and analyzes thousands of auto, home and life insurance experiences from people across the country. In order to collect initial data, InsureEye worked with market research and consumer data collection company, Research […]
Companies today face an overwhelming crush of available information, a situation referred to as ‘Big Data,’ and those best able to discriminate between relevant and irrelevant data will emerge as the most competitive.In fact, statisticians may prove to be the corporate heroes of the future, delegates of an SAS Institute (Canada) Inc. seminar heard in […]
The third annual Dominion Curling Club Championship, a week-long national curling event presented by The Dominion of Canada General Insurance Company (The Dominion), kicked off on Nov. 21.This year’s event is taking place at the Richmond Curling Club in Richmond, British Columbia from Nov. 21 to Nov. 26.All profits from The Dominion Curling Club Championship […]
With less than two months remaining in 2011, Manitoba has more traffic fatalities than all of last year, Manitoba Public Insurance (MPI) reports. As of mid-November, more than 100 deaths have occurred on Manitoba roadways significantly more than last year’s total of 87, said Ted Hlynsky, vice-president Claims Control and Safety Operations with MPI.”Many of […]
Parent companies of global multinationals may want to consider purchasing excess policies and consider “insurable interests” when structuring multinational insurance programs with risks located in Canada, according to a recent report by The ACE Group.Co-authored by Suresh Krishnan, general counsel for ACE’s multinational client group, and Fernand Vartanian, general counsel for ACE Canada, the report […]
By Canadian Underwriter | November 21, 2011
Alleghany Corporation, a U.S. holding company, has acquired Transatlantic Holdings Inc. for approximately $3.4 billion. Under the terms of the agreement, Transatlantic common shares will be exchanged for per-share consideration consisting of 0.145 Alleghany common shares and $14.22 in cash. Transatlantic stockholders may elect to receive cash or stock consideration, subject to proration in the […]
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