Industry
More than 1,500 risk professionals will descend upon Toronto on Sept. 21 for the 33rd annual Risk and Insurance Management Society (RIMS) Canada Conference.RIMS Canada, themed, ‘The Exchange: Where Great Ideas Come Together,’ runs until Sept. 24 and will feature panel sessions, nearly 20 educational sessions and more than 80 exhibitors (a record breaking number) […]
By Canadian Underwriter | September 19, 2008
2 min read
Feedback is being sought from Manitobans on proposed improvements to the province’s merit/demerit system. The system influences how much drivers pay for vehicle and driver insurance. Manitoba Public Insurance (MPI) is asking for opinions by Oct. 10, so that it can present the proposal to the provincial government. “We want to build on the best […]
By Canadian Underwriter | September 18, 2008
1 min read
Claims
PPG Automotive Refinish has been named a preferred supplier by Volvo Car Corporation for its worldwide network of dealerships and independent collision centers. The designation includes PPG’s waterborne Envirobase High Performance and Nexa Autocolor Aquabase Plus.Volvo’s objective is to provide its customers with premium-level repair quality in the aftermarket, according a release, and consequently, Volvo […]
The Canadian property and casualty industry is stable, but not without its challenges, delegates of the A.M. Best Review & Preview Canada conference were told.In his presentation, Charles M. Huber, a senior financial analyst with A.M. Best, offered a rating outlook for the Canadian p&c market.”In our opinion, the market is stable and the key […]
The economy is still in the very early stages of a deleveraging process that needs to play out, spurred by the recent liquidity crunch that saw the stumbling of insurer giant AIG, delegates of A.M. Best’s Review & Preview Canada conference in Toronto were told.Michael Taylor, the vice president and associate director, fixed income product […]
With the full support of the U.S. Treasury Department, the Federal Reserve Bank of New York loaned the American International Group (AIG) US$85 billion on Sept. 16 to keep the country’s largest insurer solvent.AIG’s stock dropped to less than US$3 per share when investors learned AIG held investments similar to those held by global investment […]
By Canadian Underwriter | September 17, 2008
An Ontario arbitrator has upheld a personal cost award against a lawyer who could not get his client to attend three different scheduled pre-hearing discussions concerning an accident benefits claim.The lawyer’s client, Roman Luskin, was injured in a 2005 motor vehicle accident and applied to the Personal Insurance Company of Canada for statutory accident benefits.A […]
Kingsway, Swiss Re and Manulife Financial have a combined exposure of more than Cdn$1 billion to global investment bank Lehman Brothers and subsidiaries of American International Group (AIG), both of which face insolvency, based on individual public statements the company released Sept. 17. Kingsway Financial Services says it holds US$17 million of par-value fixed income […]
Marine insurers are concerned some shipyards may be compromising quality to increase production, according to BestWire.There’s some indication the increasing cost of steel might be forcing shipyards in certain countries to cut back on the quality of steel used in constructing vessels, A.M. Best adds.”I’ve seen pictures of vessels under construction and the plates on […]
ICBC has launched a free online service that allows customers to look up a vehicle’s status, helping them to make informed buying decisions about used vehicles. All vehicles in North America are assigned a status to describe the general state of the vehicle and whether it qualifies to be on the road, the ICBC notes. […]
By Canadian Underwriter | September 16, 2008
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