Claims
Economic and political risks across the globe have created a slightly more favourable environment for filmmakers seeking to film abroad, according to the 2007 Risks in Global Filmmaking Map, produced each year by Aon/ Albert G. Ruben.Of the 207 countries measured, overall risk for filmmakers in 37 countries decreased slightly from 2006 to 2007, according […]
By Canadian Underwriter | March 6, 2007
1 min read
Guy Carpenter & Company, LLC, released its fifth annual joint study of natural catastrophe bond transaction activity and trends and market dynamics which found that the market momentum resulting from the record storm activity of 2004 and 2005 continued into 2006.The Catastrophe Bond Market at Year-End 2006: Ripples into Waves found that activity across virtually […]
By Canadian Underwriter | March 5, 2007
State Farm Mutual Automobile Insurance Company is paying a total of US$1.25 billion in dividends to its mutual auto insurance policyholders in 46 states, the District of Columbia and the Canadian province of New Brunswick.In New Brunswick, the dividend will total $3.1 million. The size of each policyholders dividend will vary significantly by jurisdiction, but […]
Swiss Re delivered record earnings in 2006, announcing a 98% increase in profits to CHF4.6 billion [Cdn$4.4 billion].Swiss Re CEO Jacques Aigrain said in 2006 Swiss Re achieved a record result, based on disciplined underwriting in property and casualty, consistent returns from life and health and a rising contribution from our financial services business.Property and […]
By Canadian Underwriter | March 2, 2007
A.M. Best Co.s 2007 outlook for the global reinsurance sector is stable, changing from a negative outlook originally assigned nearly two years ago.This outlook revision implies that the majority of 2007 reinsurer rating actions are likely to be affirmations with stable outlooks and only a modest amount of anticipated rating or outlook changes, A.M. Best […]
By Canadian Underwriter | March 1, 2007
2 min read
Ontario’s first safer-living home, designed to withstand winds of 200 km-h, has been completed in Sudbury. Insured by The Co-operators, the house was built as part of the Designed…for safer living program, a partnership between the Institute for Catastrophic Loss Reduction (ICLR) and the Canadian insurance industry. The Co-operators funded the construction of the home […]
February 28, 2007
Munich Re has reported posting a record profit totalling EUR3.5 billion [Cdn$5.4 billion].The company also reported reducing its combined ratios in reinsurance (92.6%) and primary insurance (90.8%) to new record lows.”A record profit for the third time in a row that shows the powerful effect of our clear profit focus,” said Nikolaus von Bomhard, chairman […]
By Canadian Underwriter | February 28, 2007
Willis North America has urged the United States government to renew the Terrorism Risk Insurance Act (TRIA), due to expire at the end of 2007, and establish a permanent government terrorism insurance backstop.Don Bailey, CEO of Willis North America, a subsidiary of Willis Group Holdings, told the U.S. Congress recently that the federal program has […]
Thanks to donor countries such as Canada, the World Bank is expected to be able to offer catastrophe risk insurance to 18 Caribbean countries in time for the 2007 hurricane season.Associated Press has reported officials from Caribbean nations are meeting in Washington on Feb. 26, 2007, to discuss the World Bank’s new Catastrophe Risk Insurance […]
By Canadian Underwriter | February 26, 2007
The Association of British Insurers estimated that insured damage caused by winter windstorm Kyrill could reach 350 million [approximately Cdn$795 million] in the United Kingdom, reports A.M. Best.Kyrill, a powerful winter Atlantic windstorm, hit the southern shores of the UK on Jan. 18, before moving on to the Netherlands, Germany, parts of the Czech Republic […]
By Canadian Underwriter | February 22, 2007
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