Industry
Beyond Insurance Brokers Inc. has opened a new office in Thunder Bay, Ontario. The new location on Roland Street, which operates under the name Beyond Insurance (Superior) Inc., means the company’s insurance services will be available to the northern parts of Ontario under the management of Trish Krawec. Krawec has more than 20 years of […]
By Canadian Underwriter | July 30, 2012
1 min read
Caroline Schweppe has joined ClearRisk Inc.’s leadership team as new vice president of business development in Ontario. Schweppe has 20 years of experience as a marketing and business development executive, with more than 10 years working with IT start-ups within the Canadian and U.S. financial services industry. Her former industry positions include president of Carosch […]
Sluggishly low interest rates and the ongoing European debt crisis have prompted more insurance companies to look at boosting their returns through potentially riskier investment vehicles, says a survey of chief investment officers (CIOs) by Goldman Sachs Asset Management (GSAM). The poll of CIOs of 152 global insurers representing $3.8 trillion in assets found that […]
By Canadian Underwriter | July 27, 2012
2 min read
Danielle Boulet is stepping down as chair of the Canadian Council of Insurance Regulators (CCIR) after three years of service, according to a post on the CCIR’s website. Carolyn Rogers, CCIR vicechair and CEO and superintendent of the Financial Services Commission of British Columbia, has agreed to act as interim chair of CCIR until the […]
Co-operators General Insurance Company reported a consolidated net income of $64.4 million in 2012 Q2 compared to $26.4 million for the same quarter in 2011. For the first six months of the year, net income is $130.9 million, an increase of $78.7 million from the same period last year. “Earnings in the second quarter were […]
Fairfax Financial Holdings Limited announced net earnings of $95 million in 2012 Q2, compared to net earnings of $83.3 million during the same period last year, reflecting improved underwriting results and lower losses on repurchase of long term debt. The combined ratio of Fairfax’s insurance and reinsurance operations in 2012 Q2 was 97.5% on a […]
A new report from the C.D. Howe Institute argues the accountability and effectiveness of credit rating agencies (CRAs) in Canada are in need of major reform, including elimination of regulatory reliance on the rating process. “In Canada, the European Union and the United States, policymakers have opted for registration systems,” Stéphane Rousseau, chair in business […]
By Canadian Underwriter | July 26, 2012
Alberta’s Automobile Insurance Rate Board (AIRB) is permitting premium levels for mandatory automobile insurance in the province to increase by as much as 5%, effective Nov. 1. As part of the competitive process, insurance companies have the option to implement all or part of the 5% increase over the next three years. Both the insurance […]
Insurance Bureau of Canada (IBC) has launched a new consumer awareness campaign to stimulate stakeholder feedback on how best to bring down auto insurance rates in Ontario and to help consumers better understand their own insurance policies. The campaign will include television, Internet and newspaper ads, billboard messages, mail drops and mall displays in several […]
“Data mastery” has been one of the Top 3 insurance priorities for the past several years, yet most insurers still struggle with how best to use their own information to achieve their business goals, research firm Celent says. Celent’s report, Data Mastery Spectrum Overview 2012, defines the concept as “mastery of data available to an […]
By Canadian Underwriter | July 25, 2012
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