Industry
The Financial Services Commission of Ontario (FSCO) has issued a warning about two unlicensed companies advertising the sale of auto insurance in the province. “During an investigation recently completed, it came to the attention of FSCO that unlicensed entities Smart Switch and Amicable Insurance Company may have been involved in the sale of automobile insurance […]
By Canadian Underwriter | June 29, 2006
1 min read
Risk
Integro (Canada) Ltd. has appointed Wayne Snow as principal for the company’s Toronto office, where he will lead and develop Integro’s Canadian construction practice.Snow has 30 years of experience in risk management and commercial insurance, most recently serving as senior vice president, risk and insurance, for AMEC Americas in Toronto.Prior to joining AMEC, Snow spent […]
The first Quarter (Q1) of 2006 net underwriting gain for the U.S. property and casualty insurance market is US$8.4 billion, representing an increase of 20.8% over the same period in 2005.According to a report published by the Insurance Services Office and the Property Casualty Insurers Association of America, the increase in gains is indicitive of […]
The Insurance Institute of Canada (IIC) has selected Aptify as its enterprise-wide customer and member relationship management software. Aptify is an international provider of customer and member relationship management, e-Business, education management and other applications. By using Aptify to serve as a central data repository for all of IIC’s international affiliates the Institute says it […]
2 min read
Claims
The notional value of weather risk management contracts increased nearly five-fold over the past year from US$9.7 billion in April 2005 to US$45.2 billion as of March 2006.The Weather Risk Management Association (WRMA), an international trade organization of the weather risk management industry, compiled the figures for its annual survey of the industry. “The explosive […]
By Canadian Underwriter | June 28, 2006
Crawford Adjusters Canada has appointed Bill Johnstone vice president, Greater Toronto Area (GTA) Region.The company described the promotion in a press release as “part of a larger realignment of Crawford’s operating divisions across Ontario.”Crawford has restructured its Ontario market into three regions: the Greater Toronto Area (GTA), Ontario South West and Ontario North East. Rod […]
The insurance industry posted solid profits in 2005 despite record losses, according to comments made by Swiss Re’s senior economist Thomas Holzheu during the company’s mid-year Economic and Insurance Industry teleconference.Regarding the property and casualty insurance business, Holzheu says that 2005 is characterized by record losses from hurricanes Katrina, Rita, and Wilma. However he says […]
By Canadian Underwriter | June 27, 2006
Auto
Insurers looking to expand their operations are doing so through “staff-driven, organic growth,” according to Business Management Group, Inc. 2006-2007 Owner, Executive and Producer Compensation Survey. A decrease in the exchange of large books of business is the root cause of this shift, which has lead to a shift in compensation package offerings and new […]
3 min read
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