Claims
The Risk and Insurance Management Society, Inc. (RIMS) recently gave testimony advocating nine key principles necessary for the development of a long-term solution to terrorism. At the public hearing on terrorism insurance matters, held by the National Association of Insurance Commissioners’ (NAIC), one principle RIMS board member and director of external affairs Mike Fenlon noted […]
By Canadian Underwriter | March 30, 2006
2 min read
If catastrophe damage losses continue to escalate as expected, the insurance industry may have to re-evaluate its model for risk-sharing, panelists told an audience attending an Ontario Risk and Insurance Management Society meeting in Toronto.A new model may, for example, have to take into account the geographic distribution of risk exposure.Swiss Re stats show a […]
By Canadian Underwriter | March 29, 2006
1 min read
The University of Calgary is conducting a cell phone and driving study with youth between 16 and 25 years old who have obtained their probationary driver’s license within the last year.The goal of the Driver Distraction Study, sponsored by the Insurance Bureau of Canada (IBC), is to determine the effects of cell phone use and […]
Risk
According to the Internet Standards Assessment Report (ISAR) released by the Web Marketing Association, The insurance industry has underperformed the overall industry benchmark in six of the past nine years, according to the Internet Standards Assessment Report (ISAR). The report, published by the Web Marketing Association, says the underperformance is evident in the three-year criteria […]
By Canadian Underwriter | March 28, 2006
A.M. Best Co. has removed Kingsway Financial Services Inc.’s issuer credit rating from under review, assigning it a rating of “bbb-.”In addition, Kingsway received the debt rating of “bbb-” on its CDN$78 million 8.25% senior unsecured debentures, which are due in 2007. A.M. Best assigned both ratings a stable outlook. Kingsway’s subsidiary holding company, Kingsway […]
3 min read
Home
Roland Reesby has been appointed to the position of vice president of operations for Munters Moisture Control Services (MCS), a division of Munters AB. Based in LA, Reesby will oversee all MCS sales and support functions to ensure continued growth and profitability for the division in North and South America. He will also direct daily […]
Profits for the US property & casualty insurance industry deteriorated in 2005 as a result of record levels of insured catastrophe losses relating to the 2005 Hurricane season, according to Fitch Ratings. The Insurance Services Office’s (ISO) Property Claims Service (PCS) unit reports P&C insurers incurred US$56.8 billion in catastrophe losses in 2005. This figure […]
Industry
Manitobans have become some of the most conscientious seatbelt users in the country, according to a Transport Canada survey.Manitoba Public Insurance (MPI) responded to the survey results by saying it will not relax its efforts to convince all Manitobans they should use vehicle restraint systems properly.”Certainly we thank and congratulate Manitobans for becoming more safety […]
Following losses of US$11.3 billion from hurricanes Katrina, Rita and Wilma, Bermuda’s reinsurers registered a total net loss of US$2.8 billion in 2005 compared with a profit of US$5.5 billion the previous year, according to the latest Benfield Bermuda Quarterly report.Eleven Bermuda reinsurers reported losses in 2005, compared with only one in 2004, the report […]
ICBC is looking to keep B.C. auto rates stable by clipping its optional rates, creating an average premium reduction of $61 for more than 1 million B.C. drivers.”Although ICBC has recently proposed an increase in rates to basic insurance, in 2005 ICBC’s optional insurance rates were reduced by $100 million, which resulted in 1.6 million […]
By Canadian Underwriter | March 27, 2006
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
