Risk
The Newfoundland government has selected a trial lawyer to act as consumer advocate in its hearings on insurance issues before the Public Utilities Board (PUB).Tom Johnson, a partner in O’Dea Earle Law Offices, will speak on behalf of consumers at the hearings, which commence October 4. First the PUB will hold a “benchmark hearing” an […]
By Canadian Underwriter | September 27, 2004
2 min read
A new study by a U.S. consumer group finds respondents did not understand credit scores.The survey of more than 1,000 Americans was undertaken by Opinion Research Corp. on behalf of the Consumer Federation of America (CFA) and Providian Financial. A full 47% of respondents were unaware that insurers use credit scores when underwriting homeowners’ policies, […]
By Canadian Underwriter | September 23, 2004
1 min read
Executives are increasingly looking to protect their personal assets through the purchase of stand-alone “side A” directors’ and officers’ (D&O) cover, according to a new study by international broker Willis.The coverage, designed to protect directors and officers when the company cannot indemnify them, is increasingly being purchased by those in Fortune 1000 companies surveyed.The average […]
The U.S. excess & surplus (E&S) lines industry saw direct premiums rise 28% in 2003, compared to just 12% growth in the overall property & casualty industry, according to a new report by A.M. Best.E&S writers saw premiums jump 62% in 2002, and then followed this up with substantial growth last year, capitalizing on hard […]
By Canadian Underwriter | September 21, 2004
A survey of risk managers by the U.K.’s Association of Insurance & Risk Managers (AIRMIC) finds 21% have registered as insurance intermediaries under the new European Union Insurance Mediation Directive. The directive, which will be enforced by the U.K. Financial Services Authority, comes in to force at the beginning of 2005. However, many of the […]
By Canadian Underwriter | September 19, 2004
Commercial insurance buyers stand to benefit from increased interest from various countries in the Canadian market, speakers noted at the Ontario Risk & Insurance Management Society (ORIMS) “State of the Market” panel discussion Thursday.Even in the difficult executive risk line, foreign markets are taking notice of Canada, says Adam Briklyn, vice president with Marsh Canada […]
By Canadian Underwriter | September 16, 2004
Insurance securitizations, once perceived as a competitive threat to reinsurers, have become a complementary product to traditional reinsurance coverage, notes a new report by Standard & Poor’s.”Insurance securitizations have long been viewed as an alternative for of risk transfer to reinsurance, with insurers ceding their risks to the capital markets in order to improve financial […]
By Canadian Underwriter | September 15, 2004
Rating agency Moody’s says it has revised the outlook on the global reinsurance market to stable from negative on the back of favorable underwriting and more stable investment results.While rating agencies have been liberally handing out ratings downgrades over the past two years, Moody’s says the ratings environment should moderate and decisions will be geared […]
By Canadian Underwriter | September 14, 2004
Despite a downturn in the insurance pricing environment, the London market is expected to maintain its record-setting profits and capacity through 2004 and 2005, according to the annual London Insurance Market survey by PricewaterhouseCoopers.However, insurers will be tested to maintain underwriting standards and make sound capital allocation decisions or risk the wrath of rating agencies […]
Bermuda is becoming a “market of choice” for both reinsurance and primary cover as its capacity continues to grow in the wake of September 11, notes a new report by A.M. Best.In “Bermuda Building Capacity”, the rating agency notes that 11 of the top 35 global reinsurers now call Bermuda home, while primary business is […]
By Canadian Underwriter | September 13, 2004
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.
