Industry
Mitchell International Inc. has introduced new Web-based technology designed to improve communication between Canadian insurers and contractors, thereby streamlining the claims process.Mitchell provides workflow solutions to the collision repair and property and casualty claims industries. It has released a new Independent Appraiser (IA) Workflow Module within its core Canadian claims workflow solution Dashboard. The module […]
By Canadian Underwriter | September 16, 2009
2 min read
Internal research by PartnerRe suggests a reinsurer would have to increase its rates by 4.3% (for short-term, property, non-proportional business) and 8.9% (for long-tail, motor, non-proportional business) just to account for lower interest rates and no other factors.PartnerRe presented its findings at its ‘2009 Technical Seminar: Auto Casualty,’ held on Sept. 14 at the National […]
By Canadian Underwriter | September 15, 2009
The Ontario chapter of the Risk and Insurance Management Society (RIMS) named Janice McGraw, manager of risk management and insurance at McGill University in Montreal, as the 2009 recipient of the Donald M. Stuart Award.McGraw received the award at the RIMS Canada conference in St. John’s Newfoundland on Sept. 15.The annual award was created to […]
Loss ratios for credit risk insurance climbed from between 20% and 30% prior to the financial crisis that began in 2008 Q3 to more than 100% currently, driving a hard market in the line, said Daniel Galvao, senior vice president of financial products at Marsh Canada Ltd. (Toronto).Galvao spoke at the RIMS Canada Conference being […]
A modern business might fit into any one of three highly protected risk (HPR) management levels, according to David Thompson, vice president and Toronto operations manager of FM Global. “A highly protected risk is a location at which all reasonable physical and human element loss prevention measures have been implemented to protect buildings, equipment and […]
Despite international market turmoil, uncertainty around minor auto injury caps and increasing claims costs related to Ontario’s accident benefits, Facility Association (FA) volumes appear to remain low and stable in most jurisdictions, broker representatives to FA have reported. “Residual markets in Ontario continue to be surprisingly stable, with the Facility Association Residual Market (FARM) private […]
By Canadian Underwriter | September 14, 2009
The U.S. property and casualty commercial sector continues to resist sharp rate increases for Directors & Officers insurance seen in the financial institutions sector, with the average premium for commercial business falling 5% in 2009 Q2, according to a new survey from Willis Group Holdings(NYSE:WSH).The 5% percent reduction is for commercial clients with strong risk […]
1 min read
Arthur J. Gallagher & Co. is donating US$100,000 to fund the creation of the Robert E. Gallagher and John P. Gallagher Scholarship. The initiative will provide funding for students of risk management disciplines. “We are grateful for the tremendous generosity of Arthur J. Gallagher & Co. and know that its contribution will be instrumental in […]
An on-the-ground inspection of damage done to homes following several tornadoes that hit Ontario on Aug. 20, 2009 has started a discussion about whether or not the Canadian property and casualty insurance has a role to play in raising awareness about Canadian building codes and the municipal enforcement of these codes. “We talked about the […]
By Canadian Underwriter | September 11, 2009
3 min read
Canadian brokers are starting a new round of testing with insurers and broker management system (BMS) technology vendors of a pilot program designed to achieve an ideal electronic workflow incorporating the tricky area of policy changes.In its 2009 annual report, the Insurance Brokers Association of Canada (IBAC) said it is preparing to launch Phase II […]
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