Risk

A.M. Best gives ‘A’ strength rating to Arch Insurance Company (Canada)

A.M. Best Co. has upgraded the financial strength rating of Arch Reinsurance Ltd. (Arch) (Bermuda) and its reinsured affiliates, including Arch Insurance Company (Canada), the only Canadian-licensed Arch entity, to A from A-.The outlook on the rating is stable.A.M. Best noted the upgrade in the rating of Arch Reinsurance Ltd. (Bermuda), which provides explicit support […]

By Canadian Underwriter | January 9, 2007

1 min read

Better alignment needed between actuarial/IT departments

“Model steward” positions should be created within organizations to better align actuarial and IT departments, according to the Insurance and Actuarial Advisory Services (IAAS) practice of Ernst & Young LLP.Both actuarial and IT departments are critical in conducting companies’ risk management assessments; as such, there should be a better alignment between the two departments, Ernst […]

By Canadian Underwriter | January 8, 2007

2 min read

FSCO releases updated guidelines for submitting auto rate changes

The Financial Services Commission of Ontario (FSCO) has released updated filing guidelines for submitting changes to automobile insurance rates and risk classification systems.One change is that insurers will be required to use the major filing guidelines in situations in which a rate change of 10% or more is proposed and the insurer has not submitted […]

By Canadian Underwriter | January 5, 2007

2 min read

Frank Cowan forms partnership with Temple Insurance

Frank Cowan Company has announced that Canadian-based Temple Insurance Company (Temple) will participate on all of its insurance programs starting Jan. 1, 2007. Temple is a member of the worldwide Munich Re Group.Frank Cowan Company has been providing specialized insurance and risk management solutions since 1927 to municipalities, hospitals, healthcare facilities, educational institutions and other […]

By Canadian Underwriter | January 3, 2007

2 min read