Industry
CGI Group Inc. has developed a service, powered by SAS, that is designed to assist Canadian property and casualty insurers detect insurance fraud. The fraud detection solution will provide participating insurers with access to a service that leverages policy and claims data hosted by and managed by CGI and employs SAS fraud detection technology, including […]
By Canadian Underwriter | November 4, 2011
1 min read
The Chubb Group of Insurance Companies has launched an interactive online resource and community addressing risk management challenges for businesses and individuals.‘Risk Conversation,’ can be found at www.riskconversation.com, includes loss prevention information, blogs and risk assessment tools that help users identify, understand and mitigate the wide variety of risks they encounter in their personal and […]
The stability of the global insurance sector and its ability to absorb massive catastrophe losses could signal a sharp increase in demand in the near future, Willis suggested in a report. In its report, Marketplace Realities: Solid Footing and a Foundation for Growth, Willis reported flat to modest rate increases or decreases across major and […]
By Canadian Underwriter | November 3, 2011
2 min read
The Co-operators General Insurance Company reported a Q3 profit of $6.2 million, marking a dramatic improvement from its 2010 Q3 loss of $8.9 million.The combined ratio (excluding the market yield adjustment) for 2011 Q3 was 101.1%, marking an improvement from 111.7% during the same period of 2010.Favourable claims development in the Ontario auto line of […]
Western Financial Group has acquired Watrous Insurance Brokers Ltd. in Watrous, Saskatchewan. The Watrous brokerage, which has been serving the community since 1989, will now operate as a Western Financial Group office. The Western office will remain at 107 Main Street in the town centre of Watrous. “Watrous is another superb addition to our network […]
Swiss Re reported a 2011 Q3 net income of $1.3 billion, marking an 11% increase from its 2010 Q3 net income of $600 million. The reinsurer’s property and casualty unit reported an increase in combined ratio to 80.8%, from 2010 Q3’s 76.4%, a release says.”The floods in Thailand are expected to have a severe impact […]
RSA Canada’s acquisition of GCAN last year proved to be a significant component of the premium growth RSA’s parent company in the United Kingdom reported in 2011 Q3.The RSA Group’s international net written premiums of £2.992 billion [Cdn$4.8 billion] were up 13%, the company reported in its Q3 2011 Interim Management Statement. Overall, RSA’s net […]
The Geneva Association, an international insurance sector think tank, is asking the G-20 to formally recognise that traditional insurance activities do not give rise to systemic risk.In an open letter to the finance ministers of the G-20 states, the Geneva Association has asked the G-20 to “state clearly that any non-core insurance activities will be […]
By Canadian Underwriter | November 2, 2011
Intact Financial Corporation (TSX: IFC) reported a net income of $101 million in 2011 Q3, marking an $8-million decrease from 2010 Q3’s net income.The decrease reflects $29-million worth of integration-related costs recorded in 2011 Q3 following Intact’s acquisition of AXA Canada.The combined ratio improved by 2.4% year-over-year (to 94.2%) despite $53 million in catastrophe losses […]
The Traffic Injury Research Foundation (TIRF) will conduct a study on the behavioural patterns of interlocked offenders and on the features of effective programs.Under an interlock program, a small, hand-held, breath-testing device is fitted to a vehicle’s ignition. A driver must blow into the device; if alcohol is detected and is higher than a pre-set […]
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.
