Industry
Manitoba Public Insurance (MPI) will be providing larger, immediate rate reductions for those who have been free of at-fault claims and convictions for 15 or more years.The Public Utilities Board approved MPI’s application for a change in rates to be charged under the driver safety rating (DSR) system. MPI estimates that roughly 170,000 vehicle owners […]
By Canadian Underwriter | May 29, 2009
1 min read
Claims
A.M. Best’s proposed methodology for natural catastrophe stress-testing takes into account a company’s prior history in a natural catastrophe situation.The draft proposal was developed based on analysis regarding reinsurance recoverable payment patterns related to several natural catastrophe events in recent years, the company adds. The ratings agency went on to note in its Draft: Natural […]
By Canadian Underwriter | May 28, 2009
Brokers looking to sell insurance to reluctant, high-end art aficionados might benefit from acting much like wealth managers in the business of protecting their customers’ assets. Katja Zigerlig, vice president of fine arts, wine and jewelry insurance for AIU Holdings’ Private Client Group, made the observation in a seminar for brokers in Toronto on May […]
2 min read
State Farm has appointed Barbara Bellissimo as chief agent and senior vice president for State Farm in Canada.Bellissimo joined State Farm in 1986 “and has successfully managed positions of increased responsibility in Canada for underwriting, training and field sales consulting,” a State Farm release says.In her new role, she will be responsible for providing strategic […]
Andrea Digdon has been appointed branch manager for Cunningham Lindsey’s Halifax, Nova Scotia location. Digdon joined the company in 1998 and has worked in a number of roles, including being mentored in the commercial risk division. She was appointed the Halifax office transportation fleet services manager and subsequently worked extensively on public entities claims and […]
In the coming hard market, focus should be put on increasing profit margins, not on increasing a firm’s size, said Neil Morrison, president and CEO, HKMB HUB and HUB International – Ontario.Morrison delivered his speech, ‘The Upside of the Downturn,’ as part of the Insurance Institute’s At the Forefront breakfast series in Toronto on May […]
By Canadian Underwriter | May 27, 2009
A Quebec firm and an individual have each been fined a combined total of Cdn$5,250 by the Autorité des marches financiers (AMF) for using the title of claims adjuster without being registered as such with the AMF.Groupe drainage Québec inc. was fined Cdn$4,500 after pleading guilty to each of three counts brought against it. The […]
Desjardins Group, a cooperative financial group in Canada, announced surplus earnings of Cdn$117 million (before member dividends) in 2009 Q1, up Cn$50 million compared to 2008 Q1.Desjardins General Insurance Group (DGIG) contributed Cdn$6.8 million to the Group’s results for the first quarter of 2009. This compares with DGIG’s negative contribution of Cdn$2.2 million for the […]
The potential liability related to climate change is a threat for the (re)insurance industry to consider, according to Christopher Klein, head of global business intelligence at Guy Carpenter. Liability in this context not only refers to the increased costs associated with natural disasters, but also the environment-related class actions being argued in the courtroom as […]
Some Ontario insurers are trying to elude the province’s ban on using credit scores in auto insurance by applying credit ratings to property insurance, since credit scoring is allowed on personal property (home) insurance, according to the Insurance Brokers Association of Ontario (IBAO).The IBAO raised its concerns at a May 26 press conference at the […]
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