Claims
The Institute for Catastrophic Loss Reduction (ICLR) is unveiling a winter storm- and tornado-resistant home in Edmonton, Alberta.The home retrofit includes: anchoring cabinets, office equipment and bedroom furniture to walls; bracing TV stands, televisions and refrigerators with appliance straps; outfitting the washing machine with armoured water supply hoses; anchoring the hot water heater; installing snow […]
By Canadian Underwriter | May 7, 2007
1 min read
AIR Worldwide Corp, a global risk modelling company, has teamed with the International Hurricane Research Center (IHRC) to fund the AIR Turntable for the centres hurricane simulator.The AIR Turntable is a computer controlled, mechanical platform which will be used to evaluate extreme wind loading conditions by facilitating the testing of buildings at different angles of […]
Industry
Chubb Insurance Company of Canada has doubled its identity fraud coverage limit to $50,000 for expenses related to reestablishing the claimants identity. The insurer has also increased its coverage to include expenses accrued from real estate and mortgage fraud. Both enhancements take effect immediately to customers with Masterpiece Personal Liability and Masterpiece Family Protection policies. […]
Auto
The Autoplan Broker Road Safety Program (ABRSP) has funded a documentary targeting BC high school students in an attempt to decrease auto theft and auto-related injuries.A partnership of the Credit Union Insurance Services Association, Insurance Brokers Association of BC and the Insurance Corporation of British Columbia, the ABRSP funded the production as part of its […]
Risk
The United Kingdom non-life insurance market is dominated by Aviva, Royal Bank of Scotland (RBS), Royal & SunAlliance, AXA and Zurich, an A.M. Best special report finds.The U.K. is the third largest non-life market in the world. In highly commoditized lines, such as personal motor and household insurance, [we believe] larger companies are able to […]
By Canadian Underwriter | May 4, 2007
A recent B.C. Supreme Court jury decision in Rallahan v. Siu and Litt reinforces the need for claimants to provide complete and accurate information when making a claim with auto insurers.The court ruled Balwinder Singh Rallahan failed to provide medical history to the Insurance Corporation of British Columbia (ICBC) when filing a claim. Its vital […]
2 min read
Northbridge Financial Corporation (TSX:NB), a Canadian commercial property and casualty insurance group, has announced net earnings of Cdn$45 million for 2007 Q1, compared to net earnings of Cdn$61.8 million for 2006 Q1.Underwriting profit was Cdn$18.1 million for 2007 Q1, a decline from underwriting profit of Cdn$26.3 million for 2006 Q1.The company attributed in the decline […]
Standard & Poor’s Ratings Services has raised its counterparty credit and senior debt ratings on Arch Capital Group Ltd. (NASDAQ:ACGL) to ‘BBB+’ from ‘BBB’. At the same time, Standard & Poor’s raised its counterparty credit and financial strength ratings on operating subsidiaries Arch Reinsurance Ltd., Arch Reinsurance Co., Arch Insurance Co., Arch Specialty Insurance Co., […]
Manulife Financial Corporation has reported 2007 Q1 earnings of US$986 million, including a one-time charge of US$69 million related to an asset realignment undertaken to more appropriately position Manulife Financials assest under the new financial accounting standards that became effective Jan.1, 2007.Excluding the impact of the one-time-only cost, Manulifes net income was US$1.055 billion, and […]
By Canadian Underwriter | May 3, 2007
SGI Canada (SGI) is now a full partner of the Broker Identity Program, according to Insurance Brokers Association of Canada (IBAC). The program has been in effect since 1989 and serves as a branding campaign for insurance brokers. We are pleased that an insurer as innovative as SGI supports the ability to represent the very […]
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