Risk
Risk managers’ may see their jobs ease up if a bill meant to ease regulatory burden that is placed on surplus lines insurers is passed according to a recent congressional panel discussion. Risk & Insurance Management Society Inc. vice president Janice Ochenkowski told the House Financial Services’ Committee’s Subcommittee on Capital Markets, Insurance and Government […]
By Canadian Underwriter | June 23, 2006
2 min read
Industry
Allianz AG has announced plans to reduce the number of workers at Allianz Deutschland AG (ADAG), its German insurance operation, by 5,000.It also plans to cut another 2,480 jobs at its Dresdner Bank subsidiary. Allianz’s announcement said the move would help fulfill its 2008 goal to make its “insurance business more customer focused, operate more […]
Progressive Insurance ranked has the number one automobile insurance site, according to two competitive intelligence studies that compare online customer experience and best practices implementation of auto insurance Web sites. The Progressive, GEICO and American Family sites were deemed the best auto insurance sites on the Web, topping the Keynote Customer Experience Rankings, an overall […]
By Canadian Underwriter | June 22, 2006
Claims
The Graduated Driver License Law appears to result in lower death and injury rates for teen drivers, with the median age being 16-years old, according to a study by the AAA Foundation for Traffic Safety. Death and injury crashes for 16-year-old drivers were 20% lower in jurisdictions which place restrictions on nighttime driving and number […]
Willis Group Holdings (NYSE: WSH), a global insurance broker, has launched The Willis Quality Index, an initiative to benchmark insurance carriers from the perspective of servicing and supporting clients’ needs. The Willis Quality Index provides information on such things as: how quickly the carrier produces evidence of coverage the average length of time it takes […]
SGI Canada has begun selling insurance products and services in Alberta, the Crown corporation announced in an online posting.”We’re very pleased to enter the Alberta market as it holds great potential for growth for SGI Canada,” SGI Canada president Jon Schubert said. “We’re already familiar with Alberta because of its close proximity and similarities to […]
1 min read
Five years after 9-11 and nearly a year after Hurricane Katrina most of the United States remains unprepared to deal with a major disaster, according to the U.S. Department of Homeland Security (DHS).U.S. insurers appear to be looking at ways to use such information in the future to aid their rate-setting and risk management efforts.A […]
By Canadian Underwriter | June 21, 2006
The use of economic capital models by insurers has grown significantly in recent years and will play an increasingly important role in the rating of such companies, according to a report by Moody’s Investors Service.”Although banks have led the way in the development of economic capital frameworks, the role of economic capital models has increased […]
According to a recent study conducted for The Co-operators, 66% of Canadians find insurance “difficult to understand,” and 63% are “unsure how premiums are calculated.” “The findings are troubling, because insurance is an important financial planning tool and part of most household budgets,” The Co-operators president and CEO Kathy Bardswick said in a press release […]
Industrial Alliance Insurance and Financial Services Inc. recently held an Investor Day for the institutional investment community.Yvon Charest, president and CEO, says the event is meant to offer investors with three primary messages including the Company’s “potential to grow EPS organically in the low double-digit range over the mid-term, including in the Individual Insurance line […]
By Canadian Underwriter | June 20, 2006
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