Swiss Re has introduced a new dimension to the conventional combined ratio, called the “economic combined ratio” [ECR]. According to Swiss Re, the ECR presents the following advantages when compared to the conventional combined ratio: * The ECR isolates the underwriting results of a certain year (accident-year view), avoiding mingling with reserve additions or releases […]
April 30, 2006
1 min read
Bermuda-based reinsurer ACE Limited (NYSE: ACE) has reported a record net income for the first quarter ended Mar. 31, 2006, of US$489 million.The net income figure includes, the company reported, “a US$80-million pre-tax charge pertaining to the imminent settlement with certain governmental agencies of their investigations of various insurance industry business practices.” Income excluding net […]
By Canadian Underwriter | April 27, 2006
1 min read
Individual car and truck thieves could become the target of the Insurance Corporation of British Columbia’s (ICBC) plan to file lawsuits against car and truck thieves.The lawsuits would attempt to garner funds to cover the costs of repairing and/or replacing the stolen vehicle. Currently, the ICBC’s initiative focuses on insurance fraud and auto theft rings […]
By Canadian Underwriter | April 12, 2006
1 min read
The University of Western Ontario is destroying a full-scale model home in order to improve construction practices and prevent future hurricane and storm damage to residential buildings
March 31, 2006
4 min read
In its anniversary year, the Munich Re Group achieved a record profit in 2005 of over EUR2.7 billion (CD$3.75 billion). “We have thus slightly exceeded our target,” Nikolaus von Bomhard, chairman of the board of management, said when presenting the figures. “Our solid basic business makes the achieved level of profitability sustainable. We therefore expect […]
March 31, 2006
2 min read
Member firms of the national adjusting service Canadian Adjusters Network (CAN) attended the client/partner reception at Toronto’s Design Exchange on Feb. 16. CAN is made up of nine independently owned adjusting firms across Canada; through CAN, they serve their particular jurisdiction, while at the same time sharing their expertise and knowledge with other members nationally. […]
March 31, 2006
4 min read
Swiss Re has introduced a new dimension to the conventional combined ratio, called the “economic combined ratio” [ECR].According to Swiss Re, the ECR presents the following advantages when compared to the conventional combined ratio: The ECR isolates the underwriting results of a certain year (accident-year view), avoiding mingling with reserve additions or releases for prior […]
By Canadian Underwriter | March 30, 2006
2 min read
Roland Reesby has been appointed to the position of vice president of operations for Munters Moisture Control Services (MCS), a division of Munters AB. Based in LA, Reesby will oversee all MCS sales and support functions to ensure continued growth and profitability for the division in North and South America. He will also direct daily […]
By Canadian Underwriter | March 28, 2006
1 min read
On March 6, 2006 students were left without educators as a result of an OPSEU strike. In order to assist students in the Insurance Diploma program at Mohawk College, the Hamilton/Niagara Chapter of the Insurance Institute of Ontario brought aid. Chapter manager Dawn Elliott made arrangements for college students who were planning to write the […]
By Canadian Underwriter | March 27, 2006
1 min read