Industry
A.M. Best assigns a stable outlook to the Canadian P&C industry, noting an improvement in Ontario auto results, but several challenges remain. Meanwhile, as a result of Solvency II, the global reinsurance sector may see some M&A activity.
By Vanessa Mariga, Associate Editor; David Gambrill, Editor | September 30, 2011
5 min read
Sovereign General Insurance Company partnered with the Canadian Tour on Aug. 22 to host the Sovereign Insurance International Team Matches Golf Tournament In Support of The Children’s Wish Foundation. The event took place at the historic Scarborough Golf and Country Club in Toronto. The Canadian Tour has produced a number of PGA stars including past […]
September 30, 2011
1 min read
Hurricane Ophelia is tracking towards Nova Scotia and Newfoundland, likely passing the coast on Oct. 3 with 120 km-h winds, according to the Canadian Hurricane Centre.As of Sept. 30, Ophelia was a Category 3 hurricane, moving towards Bermuda. It is forecast to pass Bermuda on Oct. 1, weakening to a Category 2 storm. “A non-tropical […]
By Canadian Underwriter | September 30, 2011
The U.S. property and casualty industry saw its net income drop 67% in the first half of 2011, to $6.9 billion, battered by unprecedented catastrophe-related losses, reports A.M. Best. In its report, US P/C First-Half Net Income Plunges on Cat Losses, A.M. Best notes the industry’s combined ratio deteriorated more than nine points, to nearly […]
Cunningham Lindsey Canada has created two new national director positions within its complex loss-adjusting unit. Andrew Hernandez is the national director of property, commercial risk division and Doug Andrews is national director of liability, commercial risk division.Hernandez was most recently CLC’s regional manager for its Western operations. Andrews has more than 30 years of experience […]
Fire following a theoretical 7.8 earthquake in Southern California would cause $65 billion in property damage and $22 billion in business interruption losses, Keith Porter, associate research professor at the University of Colorado at Boulder, told delegates of the National Insurance Conference of Canada (NICC) on Sept. 27. Porter described the ShakeOut exercise that takes […]
By Canadian Underwriter | September 29, 2011
A group of Canadian students counted 802 distracted drivers within an hour at three separate intersections in Canada, Allstate Insurance Company of Canada reported.The students were taking part in Allstate’s Action Against Distraction ‘Blow the Whistle driver tally.’ They were stationed at one intersection in each of three cities (Moncton, Montreal and Toronto). They tallied […]
Kerby-Reid has launched a mobile app to help insurance professionals calculate pro-rata and short-term premiums.The app – the ‘Kerby-Reid Pro-rata Insurance Calculator’ – is available for Blackberry and iPhone/iPad platforms, is designed to help underwriters, agents and brokers calculate earned and unearned premiums using the standard pro-rata, ‘old’ short-rate or short-rate 90 formulas, a Kerby-Reid release […]
Insurers can expect to see interest rates remain low for a long time, global economist Josh Feinman said at the National Insurance Conference of Canada (NICC) on Sept. 27.”There’s no sugar-coating it, we live in dangerous times,” said Feinman, global chief economist for DB Advisors/Deutsche Asset Management. “The economic [issues] we face around the world […]
By Canadian Underwriter | September 28, 2011
2 min read
The Aviva Community Fund competition has returned for the third year in a row. This year’s fund was officially launched on Sept. 26 in North Bay, Ont. Canadians can go to to submit ideas that will have a positive effect on their local community. After rallying support from friends, family, neighbours and coworkers, the most […]
By Canadian Underwriter | September 27, 2011
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