Industry
Canadian auto underwriters would benefit greatly from the use of consumer “insurance scores,” a more sophisticated form of a credit score, Chris Kiah told delegates of the National Insurance Conference of Canada (NICC).Kiah, president and CEO of Allstate Canada, served as a panel member of the seminar ‘Lessons from U.S. Personal Lines Writers’ on Sept. […]
By Canadian Underwriter | September 21, 2010
2 min read
Contrary to bullish analysts, the U.S. economy – and by extension, the Canadian economy – is a long way off from recovery, according to David Rosenberg, Gluskin Sheff & Associates chief economist and strategist.Rosenberg presented his seminar topic, ‘Focus on the Forest, Not the Trees,’ at the 2010 National Insurance Conference of Canada in Montreal […]
By Canadian Underwriter | September 20, 2010
Canada’s property and casualty industry has started to make much-needed, across-the-board price corrections in homeowners’ lines, the Office of the Superintendent of Financial Institutions (OSFI) observed at the National Insurance Conference of Canada (NICC) in Montreal on Sept. 20.But the industry may still be relying too heavily on hoping the weather remains as mild as […]
1 min read
Extremely low investment yields, the result of the financial crisis, means the Canadian property and casualty industry has very little margin for error on the underwriting side, Canada’s solvency regulator told delegates attending the National Insurance Conference of Canada (NICC) in Montreal.”The investment yields are just so miniscule today that any misstep on the underwriting […]
Claims
Research on cheating relevant to insurance fraud indicates a lot of people cheating a little bit is much more costly to society than a few people who cheat a lot.But if insurers are willing to change their approach and remind policyholders about their moral obligations before the purchase, that could help stem the flow of […]
The Office of the Superintendent of Financial Institutions (OSFI) is now collaborating with Canada’s property and casualty industry to update Canada’s Earthquake Exposure Sound Practices Guideline, now 12 years old.The guideline establishes sound practices for the management and measurement of earthquake exposures, including the use of modeling to estimate a Maximum Probable Loss (PML) arising […]
The Citizens on Patrol Program (COPP), sponsored by Manitoba Public Insurance, now has 60 active groups and 1,800 volunteers dedicated to reducing crime in their communities. Volunteers provided nearly 30,000 patrol hours last year in Manitoba, with two of the newest groups dedicated exclusively to providing a patrolling presence within Manitoba Housing units in Winnipeg. […]
By Canadian Underwriter | September 17, 2010
John (Jack) Byrne has been elected chairman of the board of Integro, succeeding Integro’s co-founder and chairman, the late Robert Clements.Early in his career, Byrne joined Travelers Insurance Company, and subsequently burnished his reputation with the turnaround of a struggling GEICO, which he joined as CEO in 1976. A rags to riches story, GEICO was […]
Hurricane Igor, currently a Category 3 storm with maximum sustained winds of 195 km-h, is tracking to brush by the southeast of Newfoundland-Labrador as of Sept. 21-22.The U.S. National Hurricane Centre shows Igor’s potential influence – shown in the form of a ‘cone’ of activity – tracking northwest along the U.S. Atlantic coastline. In the […]
Cunningham Lindsey launched a global practice group specializing in product liability. The practice group’s core skills are product liability and recall investigation and management, a Cunningham Lindsey release says. The group is staffed with more than 6,800 adjusters more than 65 countries around the world. “The global reach recognizes that product liability claims are a […]
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