Claims
Today, at the Institute for Catastrophic Loss Reduction (ICLR) annual general meeting, discussions reflected on a new program that exemplifies the role of the insurance industry and property preservation. The program, Designed… for safer living, was created to improve disaster resilience in Canadian homes and secure the recognition of the leadership role that the insurance […]
By Canadian Underwriter | May 18, 2005
1 min read
An above-normal hurricane season is expected to supervene last year’s record season, according to National Oceanic and Atmospheric Administration (NOAA) hurricane forecasters. Predictions for the 2005 Atlantic hurricane season indicate 12 to 15 tropical storms, seven to nine of which are expected to escalate into hurricanes three to five of these may result in major […]
By Canadian Underwriter | May 17, 2005
Risk
Chief risk officers (CROs) are multiplying in the financial services sector and expected to grow exponentially in other industries. According to a recent survey of 137 global risk managers conducted by the Economist Intelligence Unit (EIU), mounting regulatory pressures and a daunting array of business threats are generating the need for enterprise risk assessment. Representing […]
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The Insurance Brokers Association of Ontario (IBAO) appointed Randy Carroll as its chief operating officer. Effective May 1, Carroll began directing the daily operations at IBAO. Preparing for this transition from his three-year tenure as director of operations for the IBAO, Carroll spent the past year working closely alongside retiring CEO Robert J. Carter. As […]
Industry
Women in Insurance Cancer Crusade (WICC) Ontario Chapter announced that sponsors and golf registrations are filling-up quickly for its 6th Annual Golf Tournament to be held on Monday, July 18 at the Angus Glen Golf Club in Markham, ON. Currently, over 200 golfers have registered for the tournament, which can accommodate 288 golfers. In addition […]
With more than 68 million people living in hurricane-prone areas of the U.S., many homeowners are inadequately insured, warns the Insurance Information Institute (III) as the 2005 hurricane season is set to begin in June. Last year, the eastern seaboard of the U.S. was struck by five hurricanes in close succession, causing significant insured losses.A […]
By Canadian Underwriter | May 16, 2005
The Property Casualty Insurers Association of America (PCI) is calling on state regulators to adopt a consistent approach in their investigations into the use of finite reinsurance transactions by insurers. The investigations launched earlier this year by the Securities Exchange Commission (SEC) and New York’s attorney general Eliot Spitzer into the books of the AIG […]
ING Canada Inc. (TSX: IIC.LV) will offer its policyholders the option of an "accident forgiveness" clause on their auto insurance as from July of this year, a company statement says. The Ontario government is believed to be aggressively pushing for a standard accident forgiveness clause to be contained in all auto covers. Discussions between the […]
By Canadian Underwriter | May 15, 2005
2 min read
Royal & SunAlliance Canada produced an underwriting profit of $14 million for the first quarter of this year, signaling a significant turnaround in overall profitability from 2004’s first quarter underwriting gain of $1 million. The insurer saw its underwriting on personal lines recover from a $1 million loss a year ago to its current $10 […]
Western Financial Group (TSX: WES) lifted net income for the first quarter of this year by 80% to $1.1 million from the $587,000 disclosed for the same period in 2004. Earnings for the latest reporting period clocked in at 4c a share, reflecting a 25% increase on the 3c a share posted for the first […]
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