Industry
Anthony Clark International Insurance Brokers Ltd. (TSX: ACL, NASDAQ: ACKBF), is making its first inroads into the U.S. market. The Calgary-based broker consolidator has agreed to purchase all of the assets of an unnamed California brokerage.Purchase price for the deal, expected to close May 31, was not disclosed, although Anthony Clark notes the amount will […]
By Canadian Underwriter | April 24, 2003
1 min read
Risk
The industry’s pool for high-risk auto insurance is seeing its marketshare increase, and its combined ratios deteriorate, despite attempts to raise premiums.At its agm in Toronto today, the Facility Association (FA) told member insurers that across the country marketshare is up 2.85% versus 1.76% last year, and the combined ratio has hit 160% versus 137% […]
By Canadian Underwriter | April 23, 2003
3 min read
Developers of a new insurance company “portal” service say their product is not competition for the Centre for Study of Insurance Operations (CSIO) broker-insurer portal, and will in fact be compatible with it.”Most insurers have pieces of or are in the process of building, or are budgeting for building, their own company portals which will […]
In its annual market report, Moody’s Investors Service is predicting stability in the U.S. personal lines p&c insurance market. The relatively strong risk capitalization level, the impact of premium increases and stricter underwriting are all having an effect on 2002 yearend combined ratios, Moody’s says.There is a sense that insurers have successfully adopted the strategy […]
By Canadian Underwriter | April 22, 2003
Brokers and agents in the U.S. are reporting signs of more stable pricing in the commercial p&c market, according to a survey by the Council of Insurance Agents and Brokers (CIAB). In its quarterly “Market Index”, the CIAB finds premiums are moderating, although about two-thirds of small, medium and large accounts are still seeing price […]
2 min read
2002 was considered a “banner year” for captives, but in actuality the numbers remained fairly flat, suggests a new report by A.M. Best. In “Sizing up the Captive Market”, the rating agency says the although a record 462 new captives were licensed in 2002, there were 4,526 in total at the end of the year, […]
By Canadian Underwriter | April 21, 2003
In its final edition, the Belton Report calls for change both within the insurance industry and from legislators to deal with the slippery slope of insurer returns. Author Ted Belton says the call of “real retirement” beckons, and in this farewell issue he says in the face of dwindling investment returns, the industry must “pay […]
With the release of the Financial Services Commission of Ontario’s (FSCO) “statement of priorities” for consultation, insurers can take heart that among the list is to “increase enforcement addressing abuse in the automobile insurance system”.With the passage of Bill-198 and its impending implementation through regulation, auto insurance issues are high on the province’s agenda, and […]
By Canadian Underwriter | April 17, 2003
Two insurance industry technology vendors have joined to launch a portal that could compete with the planned industry-wide effort.Compu-Quote and iter8 Inc. say they will provide an end-to-end portal solution for the industry that will beat the Centre for Study of Insurance Operations (CSIO) portal to the market.”collabor8″ is intended to give insurers the ability […]
U.S. property and casualty insurers disclosed net income of US$2.9 billion for the 2002 financial year compared with the net loss of US$7 billion reported the year before, according to data collected by the Insurance Services Office Inc. (ISO) and the National Association of Independent Insurers (NAII). The industry’s latest annual return translates to a […]
By Canadian Underwriter | April 16, 2003
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