Industry
Appropriate use of modeling in the wake of the 2008 financial crisis will be a focus for the Office of the Superintendent of Financial Institutions (OSFI) in the coming monthsOSFI superintendent Julie Dickson focused on the use of modeling in notes to a speech she delivered at the KPMG 2009 Annual Insurance Issues Conference in […]
By Canadian Underwriter | November 26, 2009
2 min read
Ironshore Inc. will expand its London platform to serve specialty insurance lines markets in Canada.Michael C. Wills has been appointed CEO of Ironshore Canada Limited.The company will underwrite specialty insurance coverages across the entire range of Ironshore business lines, including property, casualty, liability, marine, energy and environmental risk. Wills assumes responsibility for the Ironshore expansion, […]
By Canadian Underwriter | November 25, 2009
1 min read
The most anxious winter drivers are in Manitoba and Saskatchewan, according to the TD Insurance Winter Driving Poll.Across Canada, 52% say they are anxious about winter driving while in Manitoba and Saskatchewan, anxiety plagues 63% of drivers during the winter. Despite any nervousness, 81% of residents in Manitoba and Saskatchewan consider themselves to be good […]
A.M. Best Co. has upgraded the financial strength ratings (FSR) to A- (Excellent) from B++ (Good) of SGI Canada Insurance Services Limited (SCISL), its subsidiary Coachman Insurance Company in Ontario and SCISL’s operating parent SGI Canada. The outlook on all ratings remains stable.Moreover, A.M. Best has affirmed the FSR of B++ (Good) of The Insurance […]
RMS officially unveiled its new insurance-to-value (ITV) indexing technology at the MarS Innovation Centre in Toronto on Nov. 23.Dubbed ‘iClarify,’ the RMS indexing tool has been developed to help resolve the ITV issue. Currently, Canadian insurance companies and brokers do not have the data elements necessary to generate updated valuations on their in-force policies.Statistics suggest […]
By Canadian Underwriter | November 24, 2009
At least a 1% business improvement is possible simply by applying Business Intelligence (BI), according to Mike Gilliland of AutoHouse Technologies. “Business Intelligence helps decision makers make more informed decisions and supplies users with critical business information on their customers or partners, including information on behaviours and trends”, according to a Canadian Collision Industry Forum […]
Muscowpetung First Nation won SGI’s 2009 Seatbelt Challenge and will receive up to $50,000 for traffic safety improvements in its community.The 2009 Aboriginal Seatbelt Challenge in the File Hills Qu’Appelle Tribal Council pitted eight First Nations communities against one another in a friendly competition to see which community could most improve its seatbelt use.In 2008 […]
Kingsway Financial Services Inc. (KFS) is disposing of its majority interest in Jevco Insurance Company.“Kingsway believes that the transaction will benefit Kingsway’s and Jevco’s stakeholders by strengthening Jevco’s market presence and allowing it to continue its 20-year history of profitability,” said a Kingsway release.“One of the objectives of the transaction is for Jevco’s financial strength […]
By Canadian Underwriter | November 23, 2009
Canadian and foreign insurers licensed with the Office of the Superintendent of Financial Institutions (OSFI) continued to take a beating in the auto-personal accident category (which includes accident benefits), according to OSFI’s 2009 Q3 results.Canadian insurers saw their collective claims ratio in the auto personal accident segment jump from 98.84% as of the end of […]
There is a 10% probability that over the next 30 years a magnitude eight or nine quake will occur somewhere along the Cascadia Subduction Zone, A.M. Best reported.In its special report, New Hazard Maps, Model Updates Could Shift Views on Quake Risk, A.M. Best points to modelling done by the United States Geological Survey (USGS).The […]
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