Industry
The US$700-billion bailout package the U.S. Senate passed on Oct. 1 will not solve the fiscal problems plaguing the U.S. economy, but it will help to some degree, Don Drummond, TD Bank’s chief economist, told delegates attending the National Insurance Conference of Canada in Ottawa-Gatineau, Quebec.The question, ‘Will the bailout package provide sufficient liquidity?’ was […]
By Canadian Underwriter | October 2, 2008
2 min read
The Office of the Superintendent of Financial Institutions (OSFI), Canada’s federal insurance solvency regulator, makes no apologies for insisting on eliminating debt from the balance sheets of Canadian property and casualty companies, noting that its strategy to reduce leverage has allowed Canadian property and casualty insurance companies to weather the current financial turmoil in the […]
Marsh Canada Limited and XN Risk have jointly announced the launch of a program that combines comprehensive directors and officers liability (D&O) protection with an insured private health care treatment plan. The plan provides key directors and officers with priority access to leading health care treatment.The program is the first executive risk insurance product of […]
By Canadian Underwriter | October 1, 2008
1 min read
David H. Laidley, Mary Theresa McLeod and Michael M. Shaw have been appointed to the board of directors of Aviva Canada Inc., effective immediately. Laidley is a former chairman of Deloitte & Touche LLP. He has a broad background in accounting, auditing and business, and is currently the chairman of Deloitte’s global captive indemnity insurer, […]
The Hartford has issued a public statement to calm investors after Fitch Ratings revised its outlook on The Harford Financial Services Group’s life insurance and property and casualty operations from ‘stable’ to ‘negative.’Although Fitch revised its outlook, it maintained its ratings for The Hartford’s companies. Most of the company’s P&C insurance subsidiaries are rated ‘AA.’Nevertheless, […]
The amount of form customization rarely matches the amount called for by an insurer’s business strategy, leading to an increase in analytical challenges on pricing and underwriting, marketing difficulty and an increase in costs, a Celent report warns.In its new report, ‘Challenges in Leveraging Bureau-Based Content,’ Celent suggests that carriers assess their competitive approach and […]
Some brokerages could benefit simply by reviewing and defining their existing processes. Workflow analysis can help brokers recognize problem areas such as bottlenecks, backlog and overlapping roles.
By Renee Durepos, Vice President, Operations, Keal Technology | September 30, 2008
6 min read
Tort awards for catastrophic cases in Canada are pushing the average award increase to Cdn$5 million -- and climbing
By Jess C. Bush, Blaney McMurtry LLP and Harold Hopf, Swiss Reinsurance Company Canada | September 30, 2008
The governments of B. C. and Alberta are attempting to reconcile free trade between two provinces that have vastly different auto insurance markets
By Ginny Bannerman, Chief Executive Officer, Insurance Brokers Association Of Alberta | September 30, 2008
4 min read
The future of broker tech may be turning towards consumer-centric technologies.
By Vanessa Mariga, Associate Editor | September 30, 2008
5 min read
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