Industry
Canadian and U.S. property and casualty mutual insurers have taken a financial hit as a result of the global recession, but are nevertheless weathering the storm, a special report of A.M. Best says.The research report, Mutuals under the microscope as market share grows, was launched by A.M. Best at the International Cooperative and Mutual Insurance […]
By Canadian Underwriter | October 5, 2009
2 min read
Canada’s federal department of justice may expand impaired driving legislation to allow police to administer roadside breath tests randomly, regardless of whether or not officers suspect the driver has been drinking, Canwest News Service reported.Justice Minister Rob Nicholson said that the department is mulling a proposed amendment to the Criminal Code during a keynote address […]
1 min read
Canadian legal expense insurance risks not large enough to qualify for a binding authority can now be placed at Lloyd’s of London by Lloyd’s-approved Canadian brokers.Endeavour Insurance Services now has a line slip designed for small group legal expense risks that are not large enough to qualify for a binding authority.“This facilitates the placement of […]
The Number 1 benefit and driving force behind the use of risk technology is achieving accuracy and reliability of data, according to a survey of 435 risk professionals from 45 countries.Aon eSolutions 2009 Global Risk Technology Survey shows how organizations are implementing, using and benefiting from their risk management information systems (RMIS), helping to shape […]
Claims
Today’s sophisticated, industrialized and complex world is under attack from a myriad of determined and deadly threats, according to Lord Levene, Chairman of Lloyd’s. However, as compared to the past, today’s society has more tools at its disposal, Levene said, speaking at a London event on Oct. 1 co-hosted by Lloyd’s and NATO. Society’s stronger […]
By Canadian Underwriter | October 2, 2009
The CIP Society has announced eight leaders to be recognized in the inaugural awarding of the National Leadership Awards. The recipients have been recognized by their peers for their contribution and affect on the property and casualty community. Established Leaders recipients are Andrew Janzen, Carla Blackmore, H. Ross Totten and Patrick McNally. Emerging leaders are […]
Amendments to Part XIII of the federal Insurance Companies Act make it easier for a bogus insurer to operate outside the Canadian regulatory regime and yet do business in Canada, said Alan Clark, superintendent of the Financial Institutions Commission of British Columbia (FICOM).Clark spoke as a panel member at the session, ‘Market (Mis)Conduct – Shades […]
Canada’s recession is over, although it probably won’t feel like that for some time, economist Dr. Christopher Probyn told people attending the National Insurance Conference of Canada (NICC) in Ottawa.Probyn, chief economist of State Street Global Advisors in Boston, said the North American markets are healing in the wake of the U.S. mortgage crisis that […]
Given the ongoing deterioration of Ontario auto insurance results, Facility Association is looking at a potential situation in 2010 that might “look and feel a lot like 2003,” Rob Wesseling, an immediate past chair of FA, told the National Insurance Conference of Canada (NICC) in Ottawa.”Individual insurer results may finally have gotten bad enough that […]
By Canadian Underwriter | October 1, 2009
3 min read
If there was a major catastrophe loss in today’s marketplace it’s unlikely that the reinsurance industry would be able to raise new capital following the event to the same extent that it did post hurricanes KRW in 2005, delegates of the National Insurance Conference of Canada were told.During the panel discussion ‘Global Reinsurance – Back […]
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