Claims
Only a small proportion of the 2007 flood losses in the United Kingdom was ceded to reinsurers, while most of the damage losses were absorbed by the direct insurance industry, a Guy Carpenter report says.According to the report, Wrong Type of Rain: Impact and Implications of 2007 UK Floods, two factors determined the allocation of […]
By Canadian Underwriter | December 13, 2007
1 min read
Industry
An Ontario Superior Court judge has ordered an insurer to defend a pizza company on allegations that the company’s “30-minutes-or-it’s-free” delivery policy caused driver negligence leading to a collision.Pizza Pizza Limited faces court allegations of negligence in relation to its speedy delivery policy, which promises delivery in up to 30 minutes or else the driver […]
2 min read
A kanetix.ca study suggests that the soft market in auto insurance is hardening, and that consumers may soon get hit with higher auto insurance premiums, according to a company release. Rates quoted for auto insurance over the past year have increased on average 1.5%, according to kanetix’s quarterly auto insurance premium study results.Kanetix compared the […]
By Canadian Underwriter | December 12, 2007
The federal government should streamline the operations and priorities of Export Development Canada (EDC) by narrowing EDC’s activities to improve competition in the export insurance business, according to a recent report by C.D. Howe Institute.C.D. Howe also advocated the privatization of EDC’s short-term insurance portfolio. However, government may continue to play a role in long-term […]
Ontario’s ministry of transportation has not followed up on why novice drivers enrolled in the province’s Beginner Driver Education (BDE) program crash at higher rates than drivers who did not participate in the program, Ontario’s auditor general says.In his 2007 annual report, Ontario auditor general Jim McCarter noted that between 2000 and 2005, G2-licensed drivers […]
Aon Re Global Fac has launched a reinsurance private clients suite model consisting of facultative insurance professionals in 15 different locations around the world.This approach to global cedants is a component of the Aon Re Global’s Integrated Capital Solutions and Services strategy.”By offering the Private Clients Suite, we can focus on building strategic and consultative […]
Slightly more people would search for identity theft solutions from an insurance company than they would from either banks or credit card companies, according to a survey by the National Association of Insurance Commissioners (NAIC).The NAIC’s national survey polled a nationally representative sample of 500 adults aged 18 and older. The survey was conducted Nov. […]
By Canadian Underwriter | December 11, 2007
More and more banking institutions are appointing chief risk officers (CROs) to the senior level, reports Lloyd’s of London. “The post-Enron era brought heightened focus on the role and responsibility of corporate boards and their members,” a Lloyd’s report says. “This year the subprime crisis in the United States has only served to emphasise that, […]
The time to play up the sale of fire insurance in B.C. is during the winter holidays, based on statistics offered by BCAA Insurance.According to Fire Prevention Canada, December generates 20 times the average monthly number of candle-related incidents. “In fact, between December 15 and 30 alone, candle-related fires increase by a whopping 140%,” BCAA […]
Willis Group Holdings Limited is strengthening its presence in the Canadian energy sector, by appointing Cees Van der Slikke to executive vice president of the company’s energy business in Canada. Van der Slikke will also serve as managing partner of Willis’ Calgary office.He will be working closely with Willis’ global energy senior management team to […]
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