Risk
The U.K. non-life insurance market has enjoyed stronger results in the past two year, but this kind of improvement is unlikely to last, predicts Fitch Ratings.In a new report, “Enjoy it While it Lasts but not too much”, the rating agency says improved underwriting combined with “benign” financial markets and a lack of domestic catastrophes, […]
By Canadian Underwriter | April 5, 2005
2 min read
New York Attorney General Eliot Spitzer says the current investigation into AIG will likely result in a civil resolution.Spitzer’s office is currently investigating certain non-traditional insurance transactions undertaken by AIG, and the accounting for those transactions. In a statement, Spitzer says, “the board and current management of the company are now cooperating with this investigation. […]
By Canadian Underwriter | April 4, 2005
1 min read
The Catholic diocese of St. George’s in Newfoundland is seeking a 45-day extension to file its proposal for bankruptcy. The filing is a means to stay proceedings in civil actions against the dioceses by 36 victims of sexual abuse. The diocese says it needs the time to complete assessments of the value of certain holdings, […]
Standard & Poor’s says the “BBB+” financial strength rating of St. Paul Travelers Cos. Inc. will not be impacted by news the company will divest itself of its ownership interest in Nuveen Investments Inc. St. Paul Travelers will now record Nuveen as a discontinued operations and as such record a tax charge of US$690 million […]
By Canadian Underwriter | April 3, 2005
The small to medium-sized enterprise (SME) business segment dominates the Canadian economy. Yet, it is a marketplace which property and casualty insurers have in the past experienced varied success, with not all carriers having expressing wholehearted enthusiasm at developing coverage solutions appropriate to the needs of these insureds. The reaction of insurers in the most recent hard market pricing cycle bears testimony to the inconsistency which some insurance companies have approached underwriting of the small to mid-sized business marketplace. But, with renewed pricing stability having being achieved in many commercial lines, we believe that a concerted effort is now needed to provide long-term and consistent coverage solutions to the SME sector.
March 31, 2005
4 min read
With the hard market all but over, Canada's insurance "wholesale" market is facing increased competition from standard carriers. What will this mean for brokers? And, how will the specialty firms adapt?
5 min read
The group insurance segment of the property and casualty insurance industry was one of the few places clients could find some shelter from the large premium increases during the recent hard market. Posting generally better loss ratios and offering steadier rates, many group insurers experienced considerable growth in premium volume. They also used the past three years as an opportunity to "fine tune" risk classification. But, as the market softens, the question now is who will be able to continue this growth - while keeping strict criteria for a "homogenous" group definition?
9 min read
The magic word for auto insurance in Atlantic Canada right now is "stability". As an industry, we have achieved stability in most of the region, or are very close to it, and must now work hard to maintain this environment.
6 min read
In the wake of the broker compensation controversy which has rocked the commercial insurance industry in recent months, risk managers met at the recent Ontario Risk & Insurance Management Society "Professional Development Day" filled with questions and seeking solutions to improved relationships with their broker and insurer partners.
Brokers are always looking for new clients. Some just happen to look in the wrong places. There is a better and easier way to fill the “prospect pipeline”. How do you get sales leads? There are only so many strategies out there, and brokers have tried (and had limited success) with a number of methods. […]
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