Industry
OSFI’s superintendent of financial institutions, Julie Dickson, wants Canadian property and casualty insurers to focus less on their deteriorating investment income and more on improving their underwriting results.Dickson made the observation in a speech to the 2011 Property and Casualty Insurance Industry Forum in Cambridge, Ontario on June 1.”With investment income driving results, the question […]
By Canadian Underwriter | June 3, 2011
2 min read
A combined ratio (COR) of 100% no longer generates sufficient return on equity in today’s depressed investment environment, according to Urs Uhlmann, senior vice president and head of Zurich Global Corporate.”At the beginning, I said one hundred just doesn’t cut it anymore,” Uhlmann said, referencing a slide in his presentation that showed historical returns on […]
By Canadian Underwriter | June 2, 2011
Insurers and governments need to increase homeowners’ awareness about sewer backup and insurance coverage, according to a recent paper prepared by the Institute for Catastrophic Loss Reduction (ICLR).The paper, Involving Homeowners in Urban Flood Risk Reduction, presents a case study of homeowners’ awareness of sewer backup and insurance. The case study is based on a […]
The Gore Mutual Insurance Company Foundation has donated $10,000 to the Grand River Conservation Foundation (GRCF), the charitable partner organization of the Grand River Conservation Authority (GRCA). Funds will support the expansion of outdoor education programs for elementary students throughout the Grand River watershed.GRCA Nature Centres educate more than 40,000 students annually, although the demand […]
1 min read
Juvenile Diabetes Research Foundation (JDRF) officially kicked off its annual Toronto Ride for Diabetes Research campaign on May 31.Organizers have set a $3.1-million target this year for Toronto. They have issued a challenge to corporate teams to raise funds for research to find a cure for family members living with Type 1 diabetes.Team members in […]
Bill Breckles has been appointed chief operating officer (COO) of Coachman Insurance Company. He brings with him more than 30 years of experience in the insurance industry, with a background in operations, underwriting, claims, marketing and strategic planning. Prior to joining Coachman Insurance Company, he was resident and CEO of Mondial Assistance. “In addition to […]
By Canadian Underwriter | June 1, 2011
Novae Group plc has confirmed in a statement on its Web site it is “currently undertaking due diligence in evaluating the merits of proposing a possible merger” with Omega Insurance Holdings.”In accordance with the Group’s publicly stated strategy, Novae routinely reviews possible transactions and confirms that it is currently undertaking due diligence in evaluating the […]
Zurich Canada has launched a package policy specifically designed for British Columbia’s transportation marketplace.The British Columbia Transportation (BCT) is an integrated plan that offers:• excess auto liability, heavy equipment physical damage cover, cargo and commercial general liability coverage combined in one policy to reduce gaps in coverage;• coverage for terminals, warehousing, property, crime, environmental pollution […]
ClearRisk Inc. and the Insurance Brokers Association of Ontario (IBAO) have formed a strategic partnership aimed at bringing formalized risk management planning to IBAO members.Under the terms of the partnership, IBAO members are extended preferred pricing options for ClearRisk’s flagship product, ClearRisk Manager.The application includes functionality that allows insurance brokers to easily package and deliver […]
The aerospace sector is in its fifth consecutive year of falling insurance premium pricing, with the trend expected to continue based on preliminary data for the 2011-2012 renewals, according to Aon Risk Solutions. “While the long term declines in premium levels would suggest that insurers will begin raising premium at some point in order to […]
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