What’s New: In Brief (May 01, 2007)

Commercial insurance pricing trends in 2007 Q1 seem to be in line with 2006 Q1, according to the RIMS Benchmark Survey in 2007.Directors and Officers (D&O) and workers compensation are both decreasing, proving to remain highly competitive, the survey notes. A year and a half after Hurricane Katrina, companies with properties in catastrophe-exposed regions are still seeing premiums rise, but trends continue to be quite favorable in other regions and other lines of insurance, Joseph Restoule, RIMS secretary and member of the board of directors, said in a press release. David Bradford, editor-in-chief of Advisen, notes in the same press release that 2006 was a banner year. But he also offers some words of caution: Forecasters predict that 2007 will be an active year for hurricanes, and a severe catastrophe could stop this soft market in its tracks.

TIC Travel Insurance Coordinators Ltd. is offering Visitor-to-Canada Emergency Hospital & Medical insurance, which covers up to Cdn$150,000 for hospital stay and medical services. TIC notes The World Economic Forum has ranked Canada among the top 10 places to visit; more specifically, the country ranked highly in areas such as health, education and transportation infrastructure. However, a point against Canada is the lack of free medical care for visitors, which can add up quickly for those paying the high costs, TIC observed in a press release.TICs visitor-to-Canada health coverage includes benefits such as accidental dental, prescriptions and emergency transportation. Additional benefits such as accidental death and dismemberment and relative transportation can also be purchased.