Risk

Facilities Association calls attention to market share of Alberta’s risk-sharing pools

The market share of Albertas risk-sharing pools is high by North American standards, standing at at 11.5% on a written exposure count basis and 18.5% on a written premium volume basis, according to Facility Association in its submission to the Alberta Automobile Insurance Rate Board (AAIRB). That puts the market share for Albertas risk-sharing pool […]

By Canadian Underwriter | July 4, 2007

1 min read

Insurance finance departments treading water: report

Insurance company finance departments are under pressure to adapt to an increasing number of regulatory changes while at the same time they are morphing from the role of number-cruncher to one of strategic contributor, according to a recent report by KPMG.In its report, Insurance Insights 2007, KPMG Internationals research suggests that 50% of an insurance […]

By Canadian Underwriter | July 3, 2007

2 min read

Alberta June 2007 storm, flood damage expected to top Cdn$42 million

June 2007 storms and flash floods in Alberta are expected to exceed Cdn$42 million in insured damages, says the Insurance Bureau of Canada (IBC). “In Calgary alone, there have been 3,094 insurance claims so far as a result of the storms, and insurers expect to pay [Cdn]$42 million to cover these claims,” said Jim Rivait, […]

June 30, 2007

1 min read

Canadian government backs away from global trend of backstopping terrorist risk

The Canadian government has failed to follow the global trend of becoming more involved in mitigating the risk exposure of insurance and reinsurance companies, according to a Guy Carpenter & Company LLC report. While a number of countries have developed explicit schemes or terror pools that address the risks of terrorism, Canada has not implemented […]

June 30, 2007

1 min read