Claims

World Health Organization raises its level of pandemic alert based on swine influenza

The World Health Organization (WHO) has raised the level of influenza pandemic alert from the current Phase 3 to Phase 4, indicating the likelihood of a pandemic has increased but is not inevitable.The WHO committee issued the notice after considering available data on confirmed outbreaks of A/H1N1 swine influenza in the United States of America, […]

By Canadian Underwriter | April 28, 2009

1 min read

Claims

Risk managers should monitor bloggers to help assess reputation risk

Risk managers need to familiarize themselves with “high-authority bloggers” tracking their industries if they are to better guard themselves against reputation risk in the Internet age, delegates of the Risk and Insurance Management Society’s 2009 Conference heard.Richard Levick, president and CEO of Levick Strategic Communications, defined a high-authority blogger as “just someone who blogs but […]

By Canadian Underwriter | April 22, 2009

1 min read

Claims

A funny thing happend on the way to the hard market: Willis report

A funny thing has happened on the way to the much-anticipated hard insurance market in the United States — ongoing rate competition, says the Spring 2009 edition of Willis Marketplace Realities. “If the financial crisis of 2008 was a Category 5 storm, the impact on the insurance marketplace has been closer to Category 1 intensity,” […]

By Canadian Underwriter | April 22, 2009

2 min read

Claims

Housekeeping, home maintanence claims not subject to threshold: Ontario court

Auto accident claims for housekeeping and home maintenance expenses in Ontario are not subject to the province’s legislative threshold that restricts payments only to those claimants who suffer from “serious and permanent” impairments, the Ontario Superior Court of Justice has ruled in Sabourin v. Dominion of Canada General Insurance.Although the province’s Insurance Act does protect […]

By Canadian Underwriter | April 16, 2009

2 min read

2008 record year for tornado losses in U.S.

2008 was the worst year for catastrophe losses stemming from U.S.-based tornadoes, as well as among the worst years on record for the frequency of tornadoes, reports A.M. Best Company Inc.In its special report, Another Year, Another Record: Tornado Threat Keeps Escalating, A.M. Best notes preliminary figures that show 1,691 tornadoes touched down in the […]

1 min read

What’s New: In Brief (April 07, 2009)

The Association of Professional Insurance Women selected Janice Tomlinson as 2009’s ‘Insurance Woman of the Year.’Tomlinson is executive vice president and international field operations manager for the Chubb Group of Insurance Companies. Prior to this position, she served as the chairman and president of Chubb’s Canadian business operations from 1995 to 2003.The annual APIW Insurance […]

2 min read

Insurers adapting to climate change risks, but could do more: Ceres report

Despite outlining 643 insurance-related activities addressing climate change in the United States and abroad, the U.S. national investor coalition Ceres says the response of insurance companies to climate change still doesn’t match the urgency of the risks associated with the issue.Ceres is a U.S. coalition of investors and environmental groups that commissioned the report, From […]

2 min read

Reinsurance pricing firms up at Apr.1, 2009 renewals: Aon Benfield

Pricing in the global property catastrophe reinsurance market generally continues to firm, according to Aon Benfield’s Apr. 1, 2009 update to its Reinsurance Market Outlook report.”In the regions where reinsurers have higher accumulations — such as Japan, Europe and the U.S. — naturally, rates have increased more significantly than outside of peak zones and accumulations,” […]

1 min read

Reinsurance market stands as only capital market to run smoothly: Willis Re

The reinsurance market stands as the only capital market operating smoothly, with buyers still able to access large quantities of contingent capital, according to a Willis Re report. Reinsurers reported poor investment results for 2008. At the same time, a majority of reinsurers were able to produce some underwriting profit, resulting in overall positive results, […]

2 min read

Governments Should Improve Efforts To Prepare For Large-Scale Disasters

Governments need to improve how they prioritize efforts to prepare for large-scale disasters, according to an Organization for Economic Co-operation and Development (OECD) report, produced in conjunction with Swiss RE and Oliver Wyman, Innovation in Country Risk Management. Furthermore, they should work more closely with the private sector to ensure crises can be dealt with […]

March 31, 2009

2 min read