Risk

ICBC 2008 rates to target higher-risk drivers

ICBC is structuring its rates over the next two years so that lower-risk drivers will be paying lower rates, while higher-risk customers will pay higher rates.”Higher rates for high-risk drivers means benefits for good drivers,” said Paul Taylor, ICBC’s president and CEO. “Drivers need to drive more safely or they will pay higher premiums.”For implementation […]

By Canadian Underwriter | March 13, 2007

2 min read

Karen Barkley appointed president and CEO of ACE Canada

ACE INA Insurance and ACE INA Life Insurance, part of the ACE Group of Companies, has appointed Karen Barkley as president and CEO of ACE Canada.She succeeds Daniel Courtemanche, who is now the president and CEO of GCAN Holdings Inc., part of the Ontario Teachers Pension Funds Ontario teachers Private Capital.Barkley was previously the chief […]

By Canadian Underwriter | March 12, 2007

1 min read

A.M. Best seeks input on risk management ratings methodology

A.M. Best Company Inc. has put out a call for comments from market participants in the insurance industry and other interested parties on a draft of its Risk Management and the Rating Process for Insurance Companies.The draft methodology outlines how risk management is incorporated into the overall rating process, including the development of capital requirements […]

By Canadian Underwriter | March 7, 2007

1 min read

IBC warns of ‘swoop and squat’ auto fraud

March marks National Fraud Prevention Month, and the Insurance Bureau of Canada (IBC) plans to release information throughout the month to help educate about and prevent this type of crime.Insurance fraud is big business, said Rick Dubin, vice-president, investigations at the IBC.It is a low-risk, high-reward crime that costs Canadians about $3 billion per year. […]

By Canadian Underwriter | March 7, 2007

1 min read