Industry
The estimating solution an insurance company uses has a significant impact on claims operations, financial performance and corporate image, according to a report released by Celent, Claim Estimation Solutions: Overview and Solution Spectrum. A claim estimation solution documents the physical aspects of a loss, in addition to an estimate of cost associated with repairing, restoring, […]
By Canadian Underwriter | September 11, 2007
1 min read
Risk
Of the 241 global insurers and reinsurers evaluated in Standard & Poors (S&Ps) first ERM [enterprise risk management] scorecard, 81% of insurers and reinsurers received an adequate ranking for their ERM programs, and only 3% received an excellent.Of those assessed throughout 2006, 38% of them received a strong (35%) or excellent (3%) grade. Global reinsurers, […]
An increasing number of homeowners who are having a tough time dealing with increasing mortgage payments are defaulting, leading to severe trouble in the subprime mortgage market. Trouble that has President George W. Bush stepping in and U.S. Fed Chair Ben Bernanke pledging that the Fed will act as needed to limit the adverse effects […]
Claims
Zurich Canada has announced it will be working with Vancouvers Simon Fraser University (SFU) to examine options for adaptation to extreme weather events caused by climate change.The ACT/Zurich Canada Extreme Weather Events program kicks off in May 2008, and will bring together Canadian and international experts to examine the challenges, publicize the issues and recommend […]
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Loss ratios on the auto side for Canadas Top 100 auto insurers collectively increased 2.6% in 2006, according to a report released by A.M. Best.In its statistical study, ‘Canada Auto, 2006 Direct Premiums Written,’ A.M. Best notes that even though 2006 direct written premiums for Canadas Top 100 auto insurers amounted to Cdn$19.5 billion in […]
By Canadian Underwriter | September 10, 2007
The global reinsurance sector continues to remain stable, according to a Fitch Ratings Report, Reinsurance Review and Outlook: Conditions and Trends Support Stable Ratings. For non-life reinsurers, premium rates and underwriting terms and conditions are sufficient to produce near-term underwriting profits, according to the report. Capital continues to grow throughout the sector and although some […]
A.M. Best Co. revised its outlook on all its ratings for Munich Reinsurance Company (Munich Re) from negative to stable, as well as affirming the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of Munich Re and its rated subsidiaries. A.M. Best expects Munich Res operating performance to remain excellent […]
Daniel (Dani) Goldsmith has been appointed to vice president and CFO at Hub International Limited. He will also be joining Hubs Executive Management Team and Executive Committee. Goldsmith brings with him several years of experience, including international experience, with both public and private companies, most recently serving as CFO at Almatis. He has been the […]
The National Insurance Conference of Canada (NICC) has reported registering more than 300 senior executives from across Canada, the United States, the United Kingdom and Bermuda for its inaugural conference in 2007.The conference will be held from Sept. 30-Oct 2 at Le Centre Sheraton Hotel in Montreal, Quebec. The NICC has sold 100% of its […]
By Canadian Underwriter | September 7, 2007
Integro Ltd., has expanded their operations to the West Coast with the opening of a Vancouver office, the firms third location in Canada.The four individuals hired to run the office all joined Integro from Marsh Canada, an Integro release says.They are: Michael Baddeley, principal, who served his previous firm as senior vice president specifically focused […]
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