Industry
David Porter has joined Giffin Koerth’s Casualty Group. Porter holds a bachelor of engineering science degree in mechanical engineering from the University of Western Ontario, as well as 10 years of relevant experience, a Giffin Koerth release says. Also, Matthew Allen, Giffen Koerth’s practice leader for its Environmental, Health and Safety Group, is now a […]
By Canadian Underwriter | February 15, 2012
1 min read
Zurich Financial Services Group announced that its board of directors will propose a name change at its Annual General Meeting (AGM) of shareholders on March 29, 2012. The change in moniker will reflect the fact that the company has “streamlined its business portfolio to concentrate on insurance,” a Zurich release says. “In recognition of this […]
Insurers in Australia are once again being inundated with claims as another flood encroaches on parts of the Queensland and New South Wales states. Several thousand inundation-related claims have been received but it is still too early to estimate the insured losses, A.M. Best reported in its BestWeek. Guy Carpenter suggested in a cat bulletin […]
By Canadian Underwriter | February 14, 2012
The Office of the Superintendent of Financial Institutions (OSFI) has released updated instructions for insurers in filing Unpaid Claims and Loss Ratio Analysis Exhibit data through the automated data transfer system. The only change from prior years is a revision in the file names, OSFI said in a letter. Both insurers and reinsurers are now […]
Lloyd’s has placed its preliminary estimate of net claims from the 2011 flooding in Thailand to be US$2.2 billion. According to the Globe and Mail, the Thai floods mark the third-biggest catastrophe loss Lloyd’s has absorbed in its 324-year history. The industry loss is estimated to range between $15 and $20 billion. These events are […]
Rong Chen has recently been appointed head of property in Canada of Allianz Global Corporate & Specialty Americas. Chen has been with Allianz since 2009, when he joined as an executive underwriter. “Rong brings an extensive amount of experience and expertise in property underwriting and risk management with global and Canadian P&C insurers,” an Allianz […]
The Economical Insurance Group completed the rollout in Quebec of its web-based underwriting system, Energie Auto. “We are leading the Canadian general insurance industry in moving away from legacy systems to a web-based solution,” said Steve Livingstone, Economical’s vice president of personal insurance. “Having a web-based system brings us closer to achieving the ultimate goal […]
Insurers must consider the associated risks of lowering expenses and seeking efficiencies, as it may cost them in loss control or hamper their ability to meet consumer expectations, a report from Conning Research & Consulting says. In ‘Property-Casualty Expense Management: Trends and Guiding Principles for Holistic Benchmarking,’ Conning says it’s crucial for insurers to not […]
By Canadian Underwriter | February 13, 2012
For the first time in years, the D&O market is showing sure signs of hardening, A.M. Best reported. Reporting from the Professional Liability Underwriting Society (PLUS)’s Symposium in New York, BestWeek’s Meg Green interviewed Eric Anderson, chief executive officer of U.S. retail for Aon, on the state of the D&O market. Anderson pointed to macro […]
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Pat Van Bakel has been appointed chief operating officer at Crawford & Company (Canada) Inc., effective March 1. Van Bakel has been with the company for more than 20 years, having most recently served as senior vice president, operations, insurer markets. He began his career as an adjuster and has moved through a number of […]
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