In February’s Moves and Views, an incorrect address was given for the Property and Casualty Insurance Compensation Corporation’s website. The correct address is www.pacicc.com. CU regrets the error.
April 30, 2000
1 min read
Ten years ago, auto theft was not big business organized crime that it has become today. About 97% of stolen cars were recovered then. Today, that figure has dropped to 60%. Some attribute the change to a more organized crime structure. Others, to the opening of the border following the North American Free Trade Agreement […]
February 29, 2000
5 min read
The Economical Insurance Group has signed an agreement to purchase Montreal-based auto and property insurer Federation Insurance Company of Canada, a transaction that boosts the Waterloo-based company to number five nation-wide in total premium volume. Federation’s written premium is expected to reach $200 million this year, combined, the two companies will exceed more than $1 […]
January 31, 2000
1 min read
Atlantic harmonization was the big topic of discussion at the Insurance Brokers Association of Nova Scotia (IBANS) conference held recently in Baddeck, Nova Scotia. IBANS president Michael Brien says his constituents have a number of concerns heading into the coming year, harmonization of course among them, but particularly of exposure within the Nova Scotia province. […]
October 31, 1999
2 min read
Munich Reinsurance Company of Canada has announced the following appointments, Barbara Amodeo, vice president, Technical Insurance Department, Frances Fortin, vice president, Actuarial Department, Joe Golobic, vice president, Information Services Department, Tina Gooding, vice president, Property Treaty Department, John Kelly, vice president, Casualty Special Risks Department, Mark Kuhlmann, vice president, Marketing Department, Peter McCutcheon, vice president, […]
October 31, 1999
1 min read
U.S. property and casualty insurers will pay homeowners and businesses an estimated $1.3 billion for insured property damage caused by Hurricane Floyd, according to preliminary calculations by the Insurance Services Office Inc. Hurricane Floyd hit 16 states, from Florida to Maine, but insured property damage was not as devastating as initially feared. North Carolina was […]
September 30, 1999
2 min read
Publicly traded broker network The Hub Group Ltd. has released its second quarter figures posting promising earnings in the face of many acquisitions. Total revenue in the second quarter amounted to $19.1 million, bringing year to date revenue to $35.2 million. The company, which went public in early 1999, is operating at a profit, with […]
August 31, 1999
3 min read
First-quarter results of the U.S. property and casualty insurance industry show signs of improvement; largely on the back of increased investment earnings derived from higher interest rates. The industry’s after tax income for the period clocked in at US$9.2 billion compared with US$9.5 billion for the same period a year ago, reports the Insurance Services […]
June 30, 1999
2 min read
Arecent tornado that hit Oklahoma has become the worst insured catastrophe in the state’s history, according to preliminary information released by the Property Claim Services (PCS) unit of Insurance Services Office (ISO). The storm system caused $955 million in insured damage, exceeding the state’s previous worst, a June 1992 tornado totalling $150 million in damages. […]
May 31, 1999
2 min read
January 1999 was the third-costliest January for the U.S. in terms of catastrophe claims on record with insurers paying an estimated $1.75 billion in damages. The claims result from four events, according to Insurance Services Office, Inc.’s Property Claim Services (PCS) unit. During that month alone, catastrophe losses exceeded, by $750 million, the total cat […]
March 31, 1999
1 min read