Industry
Sound underwriting has the edge on computer models when it comes to providing sensible insurance coverage for natural catastrophes
By David Gambrill | November 30, 2006
4 min read
Risk
Insurers should pool their international resources, if available, to help defend against the global nature of emerging risks
By Mike Wallace, Vice President of Risk, Underwriting and Reinsurance, Royal & SunAlliance Canada | November 30, 2006
6 min read
Underwriting that takes into account the ethical practices of corporations is better for everyone - including the insurance industry.
By Rob Bickerton, Senior Underwriter, Corporate Risk Division, The Guarantee Company of North America | November 30, 2006
These days, you might hear Ontario brokers saying they love the smell of regulation in the morning. It smells like…Victory. The Insurance Brokers Association of Ontario (IBAO)’s 86th convention in Niagara Falls did not manifest any signs of smug self-assurance. Still, brokers there were exhibiting signs of acknowledging that political fortunes seem to be smiling […]
By David Gambrill, Editor | November 30, 2006
3 min read
Home
Property and casualty insurance claims containing some element of fraud cost Canadians anywhere between $200 million and $300 million in 2005, according to statistics released in November at a Toronto roundtable exploring fraud in Canada. “Industry statistics estimate that of the Cdn$20 billion paid out last year in property and casualty insurance claims, 20% to […]
November 30, 2006
1 min read
The Government of New Brunswick is negotiating with the province’s insurance industry to seek “the elimination of existing [auto insurance-related] territories and the elimination of discrimination based on gender when evaluating consumer risk.” The government has appointed Fredericton lawyer Bill Anderson, a longtime government litigator, as its lead negotiator. The Office of Justice and Consumer […]
Canada’s average reported Directors & Officers (D&O) liability insurance limit was just under Cdn$71 million, according to a survey of 270 TSX/S&P companies. Hunters International Insurance, a Toronto-based company, conducted the study. It found the highest reported overall D&O limit in 2006 was Cdn$333 million, while the lowest was Cdn$4.5 million. “All of these figures […]
ACE INA Insurance and ACE INA Life Insurance recently its annual cocktail reception in October at Le Royal Meridien King Edward Hotel in Toronto. *** The Natural Sciences and Engineering Research Council of Canada (NSERC), the Benfield Group and the Institute for Catastrophic Loss and Reduction (ICLR) welcomed Dr. Kristy Tiampo as the new industrial […]
5 min read
Weighing in on the Bank Act review, the C.D. Howe released a study in November that questions the current prohibition on banks selling most kinds of insurance in their branches. “A few years ago, the case for the prohibition was reasonable,” according to the study’s author, Mark R. Daniels, who has experience in the life […]
ING Canada Inc. (TSX: IIC) reported a 2006 Q3 profit of Cdn$156.8 million, down Cdn$46 million (or 22.7%) from the Cdn$202.8 million reported in 2005. “The decline from an exceptionally strong third quarter in 2005 reflects lower realized investment gains as well as a reduction in underwriting income driven by lower favourable prior-year claims development,” […]
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