Industry
Catastrophe renewal pricing covering risks in Florida increased by between 10% and 15% as of June 1, according to Aon Benfield’s Reinsurance Market Update and Outlook Report. This is at the middle-to-lower end of the ranges estimated in the Apr.1 report. The less severe increases occurred for a few reasons, according to the report: • […]
By Canadian Underwriter | June 1, 2009
2 min read
Events of the past year have “uncovered significant deficiencies in the way financial institutions manage risk,” according to a report by the Economist Intelligence Unit and sponsored by ACE, KPMG, SAP and Towers Perrin.The report, Managing risk in perilous times: Practical steps to accelerate recovery, is based on a series of interviews with senior risk […]
When it comes to evaluating pecuniary (which can be counted) and non-pecuniary (which can’t be counted) housekeeping losses in a personal injury action, Canadian courts have “developed an unnecessarily complex approach” since Fobel v. Dean in 1991, the Ontario Court of Appeal has observed.In McIntyre v. Docherty, released May 29, 2009, the Ontario Court of […]
GOOD BYE M&A, HELLO IPO The “big players” in Canada’s insurance market will likely take the IPO (initial public offering) route to expansion rather than the merger and acquisition route, says Jack Lee, vice president of BFL Canada. Lee was a speaker at the Property Casualty Underwriters Club luncheon in Toronto on May 20. He […]
May 31, 2009
3 min read
ALBERTA RATE BOARD SEEKS TO ADOPT FILE-AND-USE REGULATION The Alberta Automobile Insurance Rate Board (AIRB), which regulates the province’s auto insurance rates, is seeking approval from the provincial government to introduce a new file-and-use system for determining auto insurance rates. In a “pure” file-and-use system, insurers can file for changes in their auto insurance rates […]
1 min read
The CSIO has recognized Marjatta Light for her decades of dedication to improving broker workflows.
By Vanessa Mariga, Associate Editor | May 31, 2009
5 min read
Commercial lines software is becoming a hot-ticket item. Due diligence is therefore a key feature of selecting the right technology for brokerages.
By Steve Pieroway Director, Marketing, Policy Works Inc. | May 31, 2009
6 min read
Going paperless is intended to reduce an insurer's impact on the environment. But it can create potential difficulties for broker workflows.
All of the problems that contributed to poor financial results in 2008 are continuing to plague Canada's property and casualty industry in 2009.
By Joel Baker President, CEO MSA Research Inc. | May 31, 2009
Reconstruction cost is the appropriate measure for determining property limits, although many feel that market value is the more intuitive answer.
By Klaas Westera, Executive And Business Consultant, K. Westera Services Inc. | May 31, 2009
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