Claims
The last time U.S. property and casualty insurers posted underwriting profitability of the scale witnessed in 2006, Jonas Salk unveiled his polio vaccine in 1953 and Sir Edmund Hillary became the first man to successfully climb Mount Everest, according to a recent statistical report by A.M. Best. The U.S. property casualty insurance industry posted US$$23.7 […]
By Canadian Underwriter | December 15, 2006
1 min read
Moody’s Investors Service has changed its outlook on the ratings of The Hanover Insurance Group, Inc. (NYSE: THG) and its subsidiary, Hanover Insurance Company, to positive from stable.”The positive outlook reflects stronger risk-adjusted capitalization, improving underwriting results, and more stable business flow from its network of independent agents,” Moody’s announced in a press release.The move […]
2 min read
Year 2007 promises to be a good year for the European insurance sector, according to a report by Standard & Poor’s. Nevertheless, the primary and reinsurance markets may be beyond their pricing peak, according to the report, entitled “European Insurance: 2006 In Review, 2007 In Anticipation.””The absence of large losses, peak-of-the-cycle underwriting profits, and solid […]
By Canadian Underwriter | December 14, 2006
BCAA Insurance is cautioning policyholders about the dangers of using candles as Christmas dcor items during the holiday season.”Since the early 1980s, when the popularity of candles grew rapidly, BCAA Insurance has witnessed a steady increase of candle-related claims, particularly surrounding the Christmas holidays,” BCAA Insurance notes in a press release. “Candles now rate as […]
By Canadian Underwriter | December 13, 2006
Allstate Insurance Company of Canada is serving as the title sponsor for MADD Canada’s annual holiday season campaign for safe and sober travel — Project Red Ribbon.”Allstate is extremely proud to be partnering with MADD Canada again to get the message out and raise awareness about safe and sober driving this holiday season,” said Mike […]
The total volume of Insurance-linked Securities (ILS) outstanding has grown three-fold over the last five years, and is now close to US$23 billion, according to Swiss Re’s new sigma study “Securitization.”Life bonds account for two-thirds (or US$15 billion) of the total volume, whereas non-life bonds make up the remaining volume (US$8 billion).ILS provide insurers with […]
By Canadian Underwriter | December 12, 2006
Swiss Re urged for the renewal of the Terrorism Risk Insurance Act (TRIA) during the reinsurer’s 2006 year-end economic forum and 2007 insurance industry review.Swiss Re based its position on the belief that the insurance industry isn’t equipped to deal with terrorism on its own, according to a report on the forum published by MarketWatch.According […]
Insurers should refuse to ‘follow the herd,’ provide the right incentives for underwriters, and invest in risk management tools in order to successfully manage the insurance cycle, according to a report recently released by Lloyd’s of London.The report, Managing the Insurance Cycle, warns that there still exists a considerable amount of uncertainty regarding prices and […]
By Canadian Underwriter | December 8, 2006
A return to high hurricane activity in 2007 will likely follow the below-average 2006 hurricane season, according to climate forecaster Tropical Storm Risk (TSR).TSR says a 76% likelihood exists that U.S. land-falling hurricane activity in 2007 will fall among the top one-third of years historically.The study was led by the Benfield UCL Hazard Research Centre […]
By Canadian Underwriter | December 7, 2006
U.K. insurers have improved their risk management practices since 2003, but they still have a lot of work to do, according to the U.K. insurance industry’s regulator, the Financial Services Authority (FSA).The FSA’s most recent report, Insurance Sector Briefing: Risk Management in Insurers, is a study undertaken this year as a follow-up to the FSA’s […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
