Risk
Canada’s home, car and business insurers are launching a series of half-day educational workshops across Atlantic Canada to help commercial businesses and non-profit organizations get the most for their insurance dollar.”The workshops are one of several activities underway to help improve the commercial insurance environment for businesses and voluntary organizations in the Atlantic Provinces,” according […]
By Canadian Underwriter | May 2, 2006
2 min read
OARBIC, a specialized IT consulting firm for the property and casualty insurance industry, has just released a new transactional insurance portal called the OARBIC Software Enterprise Application (OSEA). OSEA provides a customizable ‘front end’ and dynamic link to one or many legacy systems, while optionally externalizing business rules and workflows. It is a technology framework […]
Claims
Odyssey Re Holdings Corp. (NYSE: ORH) has reported investment and net income increases for 2006 1Q, as well as a significant improvement in its combined operating ratio (COR) over the same period last year.Odyssey Re reported net income available to common shareholders of US$149.7 million for 2006 1Q, compared to US$33.7 million over 2005 Q1.The […]
By Canadian Underwriter | May 1, 2006
ICBC is starting a public awareness campaign in May 2006 to raise awareness of collisions involving motorcycles.According to the ICBC, in 2004, about 1,250 people were injured and 43 were killed in motorcycle-related crashes. Many fatalities are the result of drivers failing to see motorcyclists when turning in intersections, an ICBC press release states.”We want […]
1 min read
Industry
Fairfax Financial Holdings Limited (TSX:FFH.SV) (NYSE:FFH) had net earnings of US$172.1 million during the first quarter of 2006, compared to US$35.2 million in 2005, the company has announced. “Despite some softening in market conditions, the combined ratio of the company’s insurance and reinsurance operations improved to 96.0% (from 96.9% in 2005),” Fairfax announced in a […]
The Loyalist Insurance Group Limited (TSX Venture Exchange symbol: LOY), which operates in three Ontario locations as well as Charlotte, North Carolina, has reported decreasing revenues for the year ending 2005 from $2.43 million in 2004 to $2.011 million in 2005.The Loyalist Insurance Group Limited is a financial services holding company, involved through a subsidiary, […]
The Qubec automobile insurance industry posted further growth in 2005, reporting an overall operating income totalling 16.8% of earned premiums – up slightly from the 16.6% generated in 2004. Losses in 2005 (3.0%) grew at a slower pace than earned premiums (3.2%), according to the Autorite des marches financiers (AMF). At the same time, the […]
April 30, 2006
Insurance not an 'unassailable' part of banking: Alberta Appeal Court
Insurance Bureau of Canada data shows a decline in homeowner’s premiums in New Brunswick between 2004 and 2005. In 2005, the average premium was $340, whereas in 2004 it was $358. Homeowner’s pricing is looked at in terms of premium per $1,000 of coverage, the IBC noted in a recent press release, issued in response […]
A recent Munich Re report says “existing mechanisms for distributing the risk between the private insurance sector, the state, and the federal government should be reconsidered” in light of the hurricane seasons of 2004 and 2005. The report, entitled ‘The 1906 earthquake and Hurricane Katrina,’ was released in recognition of the centennial anniversary of the […]
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