Claims
Allianz has announced its support for the Global Roundtable on Climate Change (GROCC)s framework to fight climate change.Signatories of The Path to Climate Sustainability: A Joint Statement by the Global Roundtable on Climate Change hail from a range of sectors and industries from around the world and were convened by Columbia University professor Jeffrey Sachs. […]
By Canadian Underwriter | February 21, 2007
1 min read
CLARIFICATION: The Ontario and B.C. chapters of the Women in Cancer Crusade (WICC) are each holding separate gala events on April 10, 2007 (WICC-Ontario) and March 31, 2007 (WICC-B.C.). WICC-Ontario is holding a special evening of Fire and Ice on Apr.10, 2007, at the 11th Annual Women In Insurance Cancer Crusade Gala dinner.This special evening […]
By Canadian Underwriter | February 20, 2007
2 min read
Risk Management Solutions (RMS) has launched the RMS Infectious Disease Model, the first commercially available probabilistic model for assessing the risk of influenza pandemics across multiple countries.The model, designed to help corporate risk managers, quantifies mortality and morbidity from nearly 2,000 potential pandemic influenza scenarios, says an RMS release.Factors that are taken into account include: […]
Most global reinsurers are anticipating strong 2006 earnings thanks in part to a benign 2006 catastrophe season, A.M. Best has said in a published comment on the January 2007 renewal season.Global insurers are also taking advantage of an attractive pricing environment following hurricanes Katrina, Rita and Wilma in 2005, A.M. Best reported. However, these developments […]
By Canadian Underwriter | February 19, 2007
The Designed…for safer living program recently celebrated a milestone as Ontario’s first safer living home, designed to withstand winds of 200 km/hour, was completed in Sudbury.The program is a partnership between the Institute for Catastrophic Loss Reduction (ICLR) and the Canadian insurance industry. The Co-operators funded the construction of the home to “better than building […]
Tropical Storm Risk, a subsidiary of the Benfield Hazard Research Centre, has developed technology for its TSR Storm Tracker that can predict the amount of rainfall and where it will fall to a 60 km area.TSR Storm Tracker was developed especially for the insurance industry. The new rainfall forecast capability is intended for use by […]
By Canadian Underwriter | February 15, 2007
ING Canada Inc. reported net income of Cdn$109.4 million for the quarter ended Dec. 31, 2006, down from Cdn$196.9 million reported in the same quarter last year.The company says the drop in net income was driven by lower underwriting income, lower realized investment gains and higher income taxes.Net income for the full year 2006 was […]
Citing uncertainties in the Mississippi legal and business environments, State Farm Senior Vice President Bob Trippel recently told Mississippi’s Commissioner of Insurance George Dale that State Farm Fire and Casualty Company will suspend writing new homeowners and commercial property insurance in the state of Mississippi.”We came to this decision reluctantly,” said Trippel. “But it is […]
Insureds need to quantify their catastrophe risks as accurately as possible first, before considering whether a captive is an appropriate financial tool for managing those risks, according to Kate Westover, the vice president of the Vermont-based alternative risk financing organization, Innovative Captive Srategies. Westover spoke at the Strategy Institute’s ‘Canadian Captive Forum 2007,’ held at […]
By Canadian Underwriter | February 13, 2007
In order to help insurers understand the frequency and severity of natural catastrophes, Willis Research Network has joined forces with internationally renowned universities in a research program on climate simulations at the NEC Earth Simulator in Yokohama, Japan. The research marks a major step from global modeling towards regional and local impact. It promises to […]
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