Reorganization at Co-operators General Insurance Company (TSE: CCS.PR.A) has not yet begun to pay off in early 2001 results. The company, which has seen dismal results in the past several quarters, reports premiums are up, although the effect has yet to be seen on the bottom line.Net income is down for the second quarter of […]
By Canadian Underwriter | August 23, 2001
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Following the sale of its North and South American reinsurance operations, Groupama has now put its U.K. insurance subsidiary up for bids. Earlier this year the French mutual, also known as Caise Centrale des Assurances Mutuelles Agricoles, announced the sale of Sorema S.A. and Sorema N.A. to Scor, boosting its share in Scor to more […]
By Canadian Underwriter | July 26, 2001
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A new Internet insurance marketplace is up and running, created by Riskebiz Internet Services Inc. The new site will provide links to web related services for insurers, brokers, adjusters and other insurance professionals. The new site uses UDDI, a set of XML protocols and infrastructure, as a tool for searching based on line of business, […]
By Canadian Underwriter | July 25, 2001
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Both Chubb and Allstate recently announced estimated catastrophe losses for the second quarter of 2001, predicting a heavy hit from Tropical Storm Allison. The Chubb Corporation (NYSE: CB) reports an estimated US$80 million in pre-tax cat losses, equaling US$0.29 per share after tax, most of which the company attributes to Allison. This compares with second […]
By Canadian Underwriter | July 11, 2001
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A tornado struck Quebec’s Lac-St-Jean area last night, causing damage to approximately 15 houses without any personal injuries resulting. St-Gedeon, which is located north of Quebec City, is reported to having suffered the most damage with downed power poles and trees. Hydro-Quebec says about 900 of its consumers lost power last night. The electricity was […]
By Canadian Underwriter | June 20, 2001
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Homeowners of Chisholm and Slave Lake, located 150 kilometers north of Edmonton, Alberta, will be covered under most insurance policies for additional living expenses they incurred when the areas in question were evacuated as a result of a forest fire which broke out toward the end of May this year, according to Jim Rivait, a […]
By Canadian Underwriter | June 12, 2001
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The insurance industry’s natural disaster mitigation body, the institute for Catastrophic Loss Reduction (ICLR), highlighted the value of research and information sharing between the private, public and scientific sectors at its recent annual general meeting. During 2000, the ICLR formalized a partnership with the University of Western Ontario and the Ontario government to build a […]
May 31, 2001
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Trends emerging in claims handling suggest that adjusters will be busy in the year ahead, delegates at the recently held Ontario Insurance Adjusters Association conference were told. Fraud and litigation were central topics, with speakers predicting new perils in bad faith and class action lawsuits.
March 31, 2001
3 min read
Following a fairly mild earthquake which shook the Queen Charlotte Islands and surrounding areas in British Columbia in early February, a second quake of a much greater magnitude of 6.8 on the Richter Scale occurred in the northern part of Washington state in the U.S. at the end of the same month. Although the tremor […]
March 31, 2001
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The spread of computer technology in the business world brought with it the promise of the “paperless” office. But, as it turns out, a great future of hyper efficiency and zero waste has become buried under a mountain of paper. As the volume of paper documents continues to pile higher at many insurance businesses, it […]
February 28, 2001
3 min read