Claims
Canada’s home, business and auto insurers are doing public education in Manitoba, noting The Red River is expected to peak in Winnipeg in early April, two weeks earlier than usual. “While it is predicted that recent warm, dry weather and early spring run-off will result in average or below-average water levels similar to 2006, there […]
By Canadian Underwriter | March 22, 2010
1 min read
Industry
Carstar Automotive Canada Inc. has added three new locations to its network: Coquitlam, B.C., Scarborough North East, Ontario, and Welland, Ontario.Darko Zukina is the owner and operator of Carstar Coquitlam. Zukina has been in the collision repair industry for nearly 40 years, since he was an apprentice at age 17 in Croatia. He has operated […]
SCM Insurance Services has announced the acquisition of Axis Adjusters Europe Ltd (Axis). Axis, a specialty adjusting firm in the United Kingdom, will be the London-based European division of ClaimsPro, SCM’s claims management and adjusting business division. The move also partnered SCM with Axis International’s operating branches across the globe. “The acquisition of this London-based […]
Roland Paxton, Crawford & Company’s assistant vice-president of global marine services for Canada, will assume direct responsibility for marine operations throughout the Americas.Paxton, who has been with Crawford for 10 years, holds nearly 35 years of experience as a naval architect and expert.His consulting work has included pilotage, litigation, project management and ship design. He […]
FM Global, a business property insurer, reported a 5.6% increase in 2009 gross premium — to $4.7 billion — and a 2009 profit of $840 million.”Policyholder surplus grew 35% to $6.3 billion due to a combination of solid underwriting and investment results, which marked a recovery to its position before the recent financial market upheaval,” […]
Following hearings into the Toyota recall, the New Democrat Party is calling for the government to reform the Motor Vehicle Safety Act that would empower Transport Canada. NDP MP Brian Masse is calling for Transport Canada to have the power to order recalls, establish an ‘early warning system,’ and convert voluntary compliance to mandatory compliance.As […]
By Canadian Underwriter | March 19, 2010
2 min read
The Canadian insurance sector faces two challenges in a global context — it is unlikely to achieve rapid growth and as investors, Canadian insurers are now too large to emerge unscathed from any financial crisis, reports companiesandmarkets.com.Companiesandmarkets.com is a U.K.-based online repository of market research reports.In its first analysis of the Canadian insurance market, it […]
Guy Carpenter’s 2010 forecast hurricane landfall rate for the Northeast region of the U.S. is more than double the average landfall rate for the region.GC ForeCat, a product developed by Guy Carpenter in collaboration with WSI Corporation, provides pre-season hurricane (and associated tropical cyclone) landfall forecast rates for different regions along the United States coastline. […]
Commercial insurance prices remained flat during 2009 Q4, reports Towers Watson’s Commercial Lines Insurance Pricing Survey.The survey compared prices charged on policies underwritten by 36 participating insurance companies during 2009 Q4 to the prices charged for the same coverage during the same quarter in 2008.“This latest data points to a stabilization of the soft market […]
More than half (51%) of the 216 insurance companies reporting 2009 year-end data to MSA Research posted an underwriting income for the year.Eighty-eight of the 216 companies reported a combined ratio of 100% or more. MSA Research has posted a summary of the 2009 year-end results on its Web site (www.msaresearch.com). The summary represents about […]
By Canadian Underwriter | March 18, 2010
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