Claims
Canadian reinsurers in 2006 collectively posted their highest net income in the past four years, according to data collected by the Reinsurance Research Council (RRC).The RRC data was presented by a panelist speaking at a Property Casualty Underwriter Club (PCUC) luncheon meeting in Toronto.In a presentation to the PCUC luncheon, Aon Re Canada Inc. senior […]
By Canadian Underwriter | May 17, 2007
1 min read
The Institute for Catastrophic Loss Reduction (ICLR) has appointed Kathy Bardswick, CEO of The Co-Operators Group, as its new chairman, effective immediately.Bardswick will replace David Wilmot, who recently announced his intention to retire from the ICLR and his role as senior vice president and chief agent for Canada of Toa Re, following a reinsurance career […]
The 2007 hurricane season is likely going to be very active, with landfall probabilities well above their long-period averages.This is largely due to the rapid dissipation of El Nino conditions, according to researchers at the Colorado State Universitys Department of Atmospheric Sciences.The researchers say the probability of at least one major (Category 3-5) hurricane reaching […]
By Canadian Underwriter | May 16, 2007
Reinsurers are still feeling the pinch of high rates and tight capacity after disastrous losses between 2004 and 2005. In 2005 and 2006, pricing in the retro market did become extreme, David Priebe, head of specialty operations for reinsurance broker Guy Carpenter & Co, said in a release. We saw a lot of reinsurers move […]
By Canadian Underwriter | May 15, 2007
Albertas auto insurance rate grid is not up for discussion, and the particular grid rates for the cities of Edmonton and Calgary will not change as a result of the Alberta Automobile Insurance Rate Boards premium review, now underway, the provinces superintendent of insurance, Dennis Gartner, told the Insurance Brokers Association of Alberta (IBAA) in […]
2 min read
The Insurance Bureau of Canada (IBC) is sponsoring a symposium to discuss how to reduce the number of drivers on the road who are overtired. Police are able to pull over and charge those who are intoxicated, but there are no laws in place for those who are exhausted, the IBC noted in a press […]
By Canadian Underwriter | May 14, 2007
The Insurance Corporation of British Columbia (ICBC) has issued a statement warning BC drivers to prepare and beware of flooding. According to BCs Ministry of Environment, warmer temperatures and snowmelt combined with high volume precipitation could increase the risk of rising water in the coming weeks. ICBC recommends finding a safe location on high ground […]
By Canadian Underwriter | May 10, 2007
The Intergovernmental Panel on Climate Change (IPCC) points to changes in insurance practices as an indirect form of climate change policy in its its fourth report, Climate Change 2007. According to the panel, there is growing evidence that decisions concerning insurance practices, as well as macroeconomic policy, electricity market reform, energy security and forest conservation, […]
By Canadian Underwriter | May 8, 2007
The Institute for Catastrophic Loss Reduction (ICLR) is unveiling a winter storm- and tornado-resistant home in Edmonton, Alberta.The home retrofit includes: anchoring cabinets, office equipment and bedroom furniture to walls; bracing TV stands, televisions and refrigerators with appliance straps; outfitting the washing machine with armoured water supply hoses; anchoring the hot water heater; installing snow […]
By Canadian Underwriter | May 7, 2007
AIR Worldwide Corp, a global risk modelling company, has teamed with the International Hurricane Research Center (IHRC) to fund the AIR Turntable for the centres hurricane simulator.The AIR Turntable is a computer controlled, mechanical platform which will be used to evaluate extreme wind loading conditions by facilitating the testing of buildings at different angles of […]
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