Claims
Losses incurred as a result of Hurricanes Katrina, Wilma and Rita have led Lloyd’s of London to predict a loss of up to 1.9 billion (US$3.27 billion) for 2005, according to the Company.This re-estimate of Lloyd’s marketwide losses represents an increase from the Company’s previous estimate of 1.4 billion (US$2.41 billion). Lloyd’s initial estimated, announced […]
By Canadian Underwriter | November 30, 2005
2 min read
Industry
What’s Canada’s most-stolen car?The Honda Civic seems to be the most popular vehicle of choice for car thieves, according to a list released by the Insurance Bureau of Canada (IBC).Canada’s national trade association of the P & C insurance industry announced today that the 1999 and 2000 Honda Civics SiR 2-door hold the dubious distinction […]
Risk
Winterthur Group is selling Winterthur Canada Financial Corporation and its wholly owned subsidiary, The Citadel General Assurance Company, to AXA Canada Inc. a wholly-owned subsidiary of AXA S.A. – for approximately Cdn$310 million.The sale of its Toronto-based operations completes Winterthur’s withdrawal from the Canadian market, following the previous sale of its Quebec subsidiary, L’Unique. Subject […]
Property and casualty insurer Zurich recently announced several senior management appointments for its North America commercial division, including Steve Rand as executive vice president of commercial markets.The division includes the company’s construction, middle markets, surety, Canadian commercial and energy casualty businesses in North America. Rand has relocated to Zurich’s Schaumburg office and reports to Axel […]
By Canadian Underwriter | November 29, 2005
The Insurance Brokers Association of B.C. (IBABC) will urge the B.C. provincial government to include restrictions on credit scoring in the next Insurance Act, contrary to what Canadian Underwriter recently posted on its News Daily Web site, according to Chuck Byrne, executive director of the association.Earlier this year, the organization tabled a brief on the […]
1 min read
“Convergence products” will play a critical part in the competitive landscape of the property-casualty industry even though they only represent a small segment, according to a new study by Conning Research and Consulting, Inc.The study, titled ‘Evolution in Risk and Capital Management: New Value Propositions for P&C Insurers/Reinsurers,’ explores the history of convergence products to […]
Transport Canada is testing an electronic nagger in an attempt to gain control over speeding on Canada’s roadways and encourage drivers to slow down. A nagger uses GPS technology to make the accelerator hard to press when a driver exceeds a fixed percentage of a posted speed limit. The devices are loaded with a digital […]
XL Capital says it expects to record a net charge of approximately US$830 million in the fourth quarter of 2005 following finalization of a draft report of an independent actuary (IA) appointed in connection with the company’s acquisition of Winterthur International in 2001.XL bought Winterthur International from Winterthur Swiss Insurance Co. for US$330 million in […]
By Canadian Underwriter | November 28, 2005
Markel International, the international property and casualty insurer, has announced the first official day of trading for its Canadian branch, MINT Canadian Specialty Underwriters (MCSU), located in Toronto.Markel Corporation markets and underwrites specialty insurance products and programs for a variety of niche markets. MCSU will write business through Markel Syndicate 3000 at Lloyd’s. Initially, MCSU […]
Maurice (Hank) Greenberg, the former chief executive of American International Group Inc., will not face criminal charges from New York Attorney General Eliot Spitzer, according to a recent statement from Spitzer’s office.In April Spitzer publicly announced on ABC news that his office might pursue criminal charges against Greenberg. Spitzer’s recent decision however not to press […]
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.
