Industry
Munich Re’s profit of US$1.4 billion in the first half of 2009 was down 20.1% over the same period last year, the company has reported.In property and casualty reinsurance, the company’s combined ratio came to 97.7% for the months of January to June 2009.In the first half of 2009, overall loss expenditures for major losses […]
By Canadian Underwriter | August 4, 2009
1 min read
The number of cars stolen in Quebec is decreasing, but the number of thefts of articles taken from inside cars is increasing, reports Insurance Bureau of Canada (IBC).More than 31,000 vehicles were reported stolen in Quebec in 2008, marking a decrease of 14% from 2007.However, there were 40,107 thefts of articles taken from inside cars, […]
Banks should not be allowed to do electronically what they cannot do in their physical branches.
By David Gambrill, Editor | July 31, 2009
3 min read
ONTARIO AUTO RATES UP 5.86% IN 2009 Q2 THE FINANCIAL SERVICES Commission of Ontario (FSCO) approved an average rate increase of 5.86% for auto insurance, when weighted by market share, in 2009 Q2. Belair Insurance Company Inc. received approval for a decrease of 0.47%. It was the only insurer to decrease its rates in the […]
July 31, 2009
Risk
ADOPTION OF ERM PLATEAUS The adoption of enterprise risk management (ERM) seems to have reached a plateau at 65% of firms, according to a joint Marsh and Risk and Insurance Management Society report. In the sixth annual Excellence in Risk Management VI: Strategic Risk Management in Practice, 450 risk managers were surveyed during 2009 Q1 […]
PARTNER RE TO ACQUIRE PARIS RE HOLDINGS PartnerRe Ltd. has inked a US$2-billion,’multi-step transaction’ that will see it acquire Paris Re Holdings Limited. In the first step of the transaction, expected to close in 2009 Q4, PartnerRe will acquire the shares held by several significant shareholders — including Stone Point Capital and Caisse Depot et […]
2 min read
CANADIAN FIRMS LAG BEHIND IN IFRS CONVERSION Despite the fast-approaching Jan. 1, 2011 deadline for the implementation of international financial reporting standards (IFRS), more than 12% of public companies and 20% of the private com- panies surveyed by PricewaterhouseCoopers have not yet taken the first step in the conversion process. PwC surveyed 256 companies — […]
Terry Fleming, who is likely to become RIMS president in January 2010, is open to the idea of risk management expanding beyond its traditional frontiers.
5 min read
Kidnapping company representatives for ransom has become a modern-day scourge, and kidnap and ransom insurance policies are quietly offering victims a way out.
By Chris Beck | July 31, 2009
6 min read
Aviva Canada is unequivocally endorsing a “new partnership” with the independent broker channel in Canada, betting all of its chips against a direct method of distribution. The new partnership with the independent broker channel features a quid pro quo: Aviva Canada wants to be able to count on its independent broker partners not to take […]
7 min read
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