Industry
Crawford & Company (NYSE: CRDA and CRDB) reported a 2008 Q1 net income of US$9.1 million, an increase of US$5.8 million over the same period of last year.The company’s U.S. property and casualty operations reported revenues of US$49.5 million in 2008 Q1, compared to revenues of US$51 million in 2007 Q1, a company statement says.Revenues […]
By Canadian Underwriter | May 5, 2008
1 min read
Co-Operators General Insurance Company reported a 2008 Q1 net income of Cdn$10.5 million, an increase of Cdn$2.3 million over the same period of last year.Net earned premium for 2008 Q1 was Cdn$484.2 million, an increase from 2007 Q1’s Cdn$462.4 million, according to a company release. The company cites its decision to retain a greater portion […]
Claims
The Government of New Brunswick has launched a detailed recovery program for victims of recent flooding along the St. John River system.”This comprehensive program will help New Brunswickers recover from flood damage and return to their way of life as safely and as quickly as possible,” Premier Shawn Graham said, announcing the program for non-insured […]
2 min read
About 40% of Canadians renovated their home last year; of those that did, about 67% that did neglected to consult a broker or insurance company, according to a Royal & SunAlliance (RSA) survey. Homeowners are investing in renovations and valuable new home contents, and yet one in five of them: (a) is not aware that […]
Fairfax Financial Holdings Limited (TSX and NYSE: FFH) reported net earnings of US$631.8million in 2008 Q1, based largely on the strength of the sale of credit default swaps.In comparison, the company’s net earnings were US$110.9 million in 2007 Q1.Fairfax reported net gains on investments in 2008 Q1 of US$1.09 billion, compared to only US$98.8 million […]
By Canadian Underwriter | May 2, 2008
Proposed amendments to Alberta’s and British Columbia’s insurance acts lack certainty and clarity with regard to fire-following earthquake coverage, Insurance Bureau of Canada (IBC) says.Both governments jointly introduced harmonized amendments to their insurance acts. A joint release between the two governments outlines some of the key elements of the legislation. They include:clarifying and lengthening (from […]
Some of the 10 most common mistakes made in property damage and business interruption claims could be avoided by undertaking some of the most rudimentary tasks, such as identifying risks and negotiating favourable policy terms.Roberta Martoza, first vice president of enterprise risk management at Washington Mutual, listed her Top 10 most common mistakes at a […]
Aon has introduced its Global Rapid Response program to Canada.Global Rapid Response provides post-loss mitigation and recovery consulting, helping on the ground at the loss location. The program is designed to help minimize the financial impact of a catastrophic property-damaging event, document the loss, and create a claim foundation that will lead to the maximum […]
The average gross appraisal value of a Canadian collision loss in 2008 Q1 was Cdn$3,078, a decrease of Cdn$139 over 2007 Q1, based on data contained in the 2008 Q2 Mitchell Industry Trends Report.Mitchell stats show the average body labour rates in Canada have increased by 4.82% (or up to 8.3%) over the same period […]
By Canadian Underwriter | May 1, 2008
PartnerRe Ltd. (NYSE: PRE) has reported a net income of US$129 million for 2008 Q1, compared to US$169.3 million profit posted in 2007 Q1. The company reported a combined ratio of 92.3% for the first quarter, up from 2007 Q1’s 84.8%.Net premiums written totalled US$1.4 billion for 2008 Q1 an increase over 2007 Q1’s US$1.2 […]
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