Industry
Canada’s property and casualty industry (excluding most AMF-regulated companies) has seen its 2008 nine-month underwriting net income fall 32.7% over the same period last year.MSA Research Inc. issued nine-month results for the industry, including results from both federally regulated and provincially licensed insurers. (The results do not include many AMF-regulated insurers because they are not […]
By Canadian Underwriter | December 1, 2008
1 min read
A group of 20 U.S. property-casualty reinsurers reported a net income of US$2.7 billion for the first nine months of 2008, marking a drop from the US$5.3 billion reported in the same period of 2007, according to a Reinsurance Association of America (RAA) survey.The combined ratio for the group was 104.2% in the first nine […]
Fairfax Financial Holdings Limited (TSX and NYSE:FFH) and Northbridge Financial Corporation (TSX: NB) have announced that Fairfax intends to make a formal offer to acquire all of the outstanding common shares of Northbridge — other than those shares already held by Fairfax — for Cdn$39 in cash per common share, representing total cash consideration of […]
2 min read
Obtaining better intelligence from corporate data will be essential to reducing costs, determining areas for automation and surviving in an environment in which regulation is imperative, according to a Celent report, Data Mastery Strategies. “Data mastery” is the ability to extract useful business information from raw data. It involves bringing relevant data from different sources […]
Risk
SUPREME COURT DISALLOWS POLICY EXCLUSION FOR “FAULTY DESIGN” The Supreme Court of Canada has ordered a group of property insurers to cover the costs related to a damaged tunnel-boring machine under an all-risk policy that contains an exclusion for ‘faulty design.’ In Canadian National Railway Co. v Royal and SunAlliance Insurance Co. of Canada, a […]
November 30, 2008
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Celebrating its 10 years of existence, the Chartered Insurance Professional (CIP) Society is working to further elevate the professionals of the insurance industry.
By Vanessa Mariga, Associate Editor | November 30, 2008
5 min read
Canada's Insurance Industry Recently Scored A 6.0 In A Public Popularity Survey, Putting It In The Esteemed Company Of Such Well-Known Personalities As California Governor Arnold Schwarzenegger
By Mary Lou O'Reilly, Vice-President, Public Affairs and Marketing, Insurance Bureau of Canada | November 30, 2008
6 min read
New research is trying to get a true measure of wind speeds and shingle damage in order to help model for hurricane damages.
By Gregory A. Kopp, Associate Professor and Canada Research Chair in Wind Engineering, University of We | November 30, 2008
IBC ASKS ONTARIO TO WORK WITH FEDS IN POSTPONING CHANGES TO PART XIII OF ICA Insurance Bureau of Canada (IBC) wants the government of Ontario to work with the federal government to delay changes to Part XIII of the Insurance Companies Act of Canada until the initiative is fully understood by provincial regulators. IBC made […]
3 min read
Manitoba's insurance brokers showed their collective strength as negotiators in working out a new compensation deal with the province's public auto insurer.
By David Schioler CEO, Insurance Brokers Association of Manitoba | November 30, 2008
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