Industry
The soft market in the Canadian commercial property and casualty sector will likely not bottom out until late 2010, possibly early 2011, Marsh reports.In its report, Competition Nets Rewards – Multinational Client Service Insurance Market Report 2010, Marsh examines trends in insurance markets around the world. In Canada, rate reductions on low hazard and high […]
By Canadian Underwriter | May 19, 2010
1 min read
An online moving and storage insurance program – CapMove.com – has been introduced by XN Financial Services Inc. in partnership with Capacity Coverage of New Jersey, Inc. The new moving insurance program combines Capacity’s moving and storage industry expertise with XN Financial’s online technology, an XN release says. The online insurance program streamlines the process […]
The quality of a broker’s presentation of risk is the most important factor considered by underwriters when deciding whether or not to take on a risk, according to a Marsh survey.An independent research firm polled underwriters in seven global insurance centres. Almost half of the underwriters surveyed said the quality of a broker’s presentation of […]
ICBC reported a net income of $155 million for 2010 Q1, an increase from $117 million in 2009 Q1. An increase in premiums written – up to $860 million in 2010 Q1 from $843 million 2009 Q1 – was a contributing factor to the corporation’s improved results. The insurer’s underwriting income, however, decreased from $19 […]
St. John’s Downtown Development Commission recognized The 2009 RIMS Canada Conference Committee with an Award of Distinction. The ‘Destination St. John’s Award of Distinction’ is presented to a conference chair/committee who, through the hosting of a conference in St. John’s, has generated significant economic benefits and increased the profile of the city. During the RIMS […]
Canadian property and casualty insurers’ over-capitalization and low return on investment mitigates against new capital being invested into the industry, said Philip Cook, CEO of Omega Insurance Holdings. Cook spoke as a panel member at the Property and Casualty Underwriters’ Club (PCUC) luncheon in Toronto on May 18. The panel discussed the current global economy […]
By Canadian Underwriter | May 18, 2010
The revenues of Crawford & Company’s international segment were affected by the lack of weather-related claims in the Canadian market, the company reported in its 2010 Q1 financial statement. “Our international operations segment continued to be a strong contributor, even as revenues increased only slightly on a constant dollar basis,” Jeffrey T. Bowman, CEO of […]
Brian Hambly has been promoted to branch manager of Crawford & Company (Canada) Inc.’s Toronto East branch. Hambly joined Crawford in 1995. He specializes in commercial auto and CGL claims, and has been the control adjuster for several car rental accounts. He will continue to manage Crawford’s commercial auto services unit.Hambly was instrumental in the […]
Marshall & Swift/Boeckh (MSB) has teamed up with Compu-Quote Inc. to launch a replacement cost calculator. MSB will integrate its RCT technology into Compu-Quote’s RCT EvaluRater product to form the Replacement Cost Technology EvaluRater. The product is intended to “significantly improve the process of determining residential reconstruction value, delivering both immediate and long-term workflow benefits […]
iClarify is now available to all Ontario brokers. The insurance-to-value initiative is a joint effort between Compu-Quote Inc. and SCM’s Risk Management Services (RMS). It allows brokers to retrieve street level and satellite photographs, as well as information on 12 critical data elements of dwellings in real time during the calculation of the ITV. “During […]
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