4. Winter storm Daria Europe 1990 95 6,053,000 3. Typhoon Mireille Japan 1991 51 7,142,000 4. Winter storm Daria Europe 1990 95 6,053,000 5. Winter storm Lothar Europe 1999 80 5,998,000 27. Urban interface forest fires California 1991 26 1,518,000 39. Urban interface forest fires California 1993 3 1,133,000 Source: Swiss Re/Sigma 2. Northridge earthquake […]
November 30, 2001
1 min read
The Co-operators General Insurance (TSE: CCS.PR.A) is showing signs of a rebound, announcing after tax net income of $267,000 for the third quarter to end September 2001. This is a far cry from the same period last year, when the company reported a loss of $3.3 million. This translates to a loss per common share […]
November 30, 2001
1 min read
The Co-operators General Insurance (TSE: CCS.PR.A) is showing signs of a rebound, announcing after tax net income of $267,000 for the third quarter 2001. This is a far cry from the same period last year, when the company reported a loss of $3.3 million.This translates to a loss per common share of $0.06 for the […]
By Canadian Underwriter | November 26, 2001
1 min read
British Columbia’s public insurer is reporting a net loss of $7 million for the third quarter of 2001, a sharp drop from last year’s net income of $70 million for the same period.And for the first nine months of the year, the Insurance Corporation of B.C. (ICBC) says it has lost $38 million, as compared […]
By Canadian Underwriter | November 23, 2001
2 min read
Just as U.S. regulators begin their investigation into Lloyd’s of London’s ability to pay claims resulting from the September 11 terrorist attacks, the company acknowledges it is among those on the hook for an airplane crash in New York.Early Monday morning, an American Airlines Airbus A-300 crash into homes in the Queen’s borough of New […]
By Canadian Underwriter | November 12, 2001
1 min read
Lloyd’s of London gained a last-minute reprieve from the National Association of Insurance Commissioners (NAIC) and the New York Insurance Department on its deadline for full payment of claims relating to the September 11 terrorist attacks.Lloyd’s had initially been given a deadline of November 15 by the insurance regulators to deposit in full the payment […]
By Canadian Underwriter | October 29, 2001
1 min read
In light of almost Cdn$3 billion (1.3 billion pounds) in losses from the U.S. terrorist attacks, Lloyd’s of London is making a cash call on members for $1.78 billion (780 million pounds). Money will be used to help pay claims following the attacks, in which Lloyd’s syndicates insured the World Trade Center and both U.S. […]
By Canadian Underwriter | October 18, 2001
1 min read
A new study released by the Canadian Center for Policy Alternatives (CCPA) suggests privatizing British Columbia’s auto insurance system will be bad for consumers. “Allowing private firms to compete with ICBC in the provision of basic auto insurance will almost certainly result in a number of negative outcomes, including discriminatory rate setting, higher insurance premiums […]
By Canadian Underwriter | October 11, 2001
1 min read
Broker consolidator Vector Intermediaries (CDNX: VTE) is seeing its results continue to improve, if modestly, through the first half of 2001. Operating results were the best in Vector’s history and operating margins continue to improve, the company states in a press release.Before tax earnings for the period are $732,164, or $0.03 per share, compared with […]
By Canadian Underwriter | September 4, 2001
1 min read
Dear Editor, Re: Linden Rees, “Ex Gratia” article (CU, June 2001). In his very first paragraph, Mr. Rees refers to a claim that “may not be covered”. He later states that “highly dubious” claims should not be covered. I beg to differ. Insurers continually broaden coverages and reduce rates to obtain business. When times get […]
August 31, 2001
1 min read