Industry
Fairfax Financial Holdings Limited (TSX: FFH and FFH.U) reported a 2010 Q1 net income of $290.2 million, marking a huge improvement from the loss of $39.6 million reported in 2009 Q1.The year-over-year increase in earnings arose primarily from net investment gains of $415.6 million in 2010 Q1, a Fairfax release says.Northbridge, Fairfax’s Canadian commercial insurer, […]
By Canadian Underwriter | May 3, 2010
1 min read
Risk
This is one of those rare times when Canada is able to duck the pressure to adopt international standards and channel its inner Frank Sinatra, doing things 'Our Way.'
By David Gambrill, Editor | April 30, 2010
3 min read
TAXES, REGULATORY COSTS EAT UP MORE THAN 11% OF CANADIAN INSURERS’ REVENUES Slightly more than 11% of the $38.4 billion of the insurance industry’s 2008 revenues went towards regulatory and tax costs, according to a PricewaterhouseCooper’s (PwC) report. Insurance Bureau of Canada commissioned PwC to study, for the first time, the burden of taxes and […]
April 30, 2010
2 min read
CANADIAN INSURERS OVER-RELYING ON ONE VENDOR’S CATASTROPHE MODEL: KPMG There is a potential systemic risk in the use of catastrophe models in Canada because of the property and casualty industry’s “extensive reliance on vendor-provided catastrophe models, particularly with extensive reliance on one vendor in Canada,” KPMG says in research contracted by the Insurance Bureau of […]
NEW BRUNSWICK’S HOME INSURANCE MARKET SHOWING SIGNS OF “INSTABILITY” New Brunswick’s Consumer Advocate says the province’s home insurance market is showing signs of “instability.” “One of the biggest issues is the fact that home insurance premiums are on the rise,” the Consumer Advocate says in its 2009 annual general report. “This is due to increased […]
Gordon McBean, director of policy at the Institute for Catastrophic Loss Reduction (ICLR), recently received the Order of Canada for his research on climate change.
By Vanessa Mariga, Associate Editor | April 30, 2010
5 min read
Insurers looking to make a buck in North American commercial trucking lines should prepare for a number of long-term challenges before taking the plunge.
By Angelique Magi | April 30, 2010
6 min read
Minor injury caps are limited in scope, reduce premiums, have been endorsed by four different provincial governments and have survived court challenges.
By Don Forgeron | April 30, 2010
The fall of OEM parts use, rising labour costs and a golden opportunity to use 'appearance allowances' characterize the Canadian collision repair market.
By Greg Horn | April 30, 2010
Resurrected from a near-death experience three years ago, I-CAR's training courses will remain in Canada, with the Automotive Industries Association of Canada (AIA) in the driver's seat.
By Andrew Shepherd | April 30, 2010
4 min read
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