Risk
While the U.S. commercial lines p&c sector is not gaining favor with Standard & Poor’s, the personal lines sector remains strong, the rating agency says.”Although earnings prospects for the first six months of 2005 appearfavorable for the personal lines sector–with earned premium growth,continued declining loss frequency, and lower unfavorable reservedevelopment leading to improved profitability–signs of […]
By Canadian Underwriter | December 9, 2004
1 min read
For the first time in the last five years, directors’ and officers’ premiums dropped in 2004, according to a new study by Tillinghast. The 2004 D&O Liability Survey finds rates declined an average 10%, the first decline since 1999 for the troubled line. However, Canadian respondents widely reported D&O premiums rising, with 90% say they […]
2 min read
The Roofing Contractors Association of B.C. (RCABC) announced Wednesday that it was establishing its own insurance company, The RCA Indemnity Corp.The new insurer will be wholly owned by RCABC members and has received its license by the F.C. Financial Institutions Commission (FICOM). RCA Indemnity has been writing policies since the beginning of December.The new company […]
By Canadian Underwriter | December 8, 2004
The Association of Designated Assessment Centres (ADAC) has come out against proposed changes which would eliminate DACs in Ontario. In a statement Wednesday, ADAC says, “Premier Dalton McGuinty’s government is quietly trying to take away the independent “referee” who decides how auto accident victims should be compensated for their injuries. The move – which could […]
The Council of Insurance Agents & Brokers (CIAB) has added its endorsement to the draft model regulations around broker compensation proposed by the National Association of Insurance Commissioners (NAIC). The CIAB says, however, it wants to see uniform regulations in place in all states, and a uniform approach to investigation of commission practices rather than […]
By Canadian Underwriter | December 7, 2004
The Financial Services Commission of Ontario (FSCO) has order two Toronto paralegals operating as “Castro and Associates” to cease and desist holding themselves out as paralegals. The interim order requires Carlos Castro, Manuel Castro and any of their representatives to stop acting as paralegals on statutory accident benefits (SABS) auto insurance claims. They must also […]
By Canadian Underwriter | December 5, 2004
New Jersey-based Chubb Corp. is the latest to receive a subpoena from the U.S. Securities Exchange Commission related to a probe of finite risk reinsurance products.The SEC probe mirrors one being undertaken by New York Attorney General Eliot Spitzer into finite re, and other companies having received SEC subpoenas include Swiss Re and ACE Ltd.Rating […]
Insurers still have a way to go to catch up with their banking and investment industries in effectively managing capital, according to a new survey by KPMG.The “Risk and Capital Management” survey of insurers worldwide finds their responses reflect the views of industry analysts that insurers are improving their ability to manage capital, but still […]
The financial strength of Lloyd’s, as well as its flexibility, have been evident since 9/11, according to a new report on the London market by reinsurance broker Benfield Group.Lloyd’s maintains a strong competitive position with the significant increase in market capital seen over the past three years. And while capacity for 2005 is likely to […]
By Canadian Underwriter | December 2, 2004
Economic signs in the U.S. are far from positive, according to a survey of 45 economists by Swiss Re. The biannual “economic risk” survey found economists perceive a 13% chance of a stock market crash defined as a 25% minimum decline in a major stock market index as about 13% for both the U.S. and […]
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.
