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October 2008
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Canadian Underwriter Headlines
Latest industry news headlines from Canadian Underwriter
URL:
http://www.canadianunderwriter.ca
Updated:
26 min 28 sec ago
Financial crisis likely to flatten insurers' IT budgets in 2009
October 10, 2008 - 3:35pm
As a result of the current financial crisis, Celent is predicting insurers' IT budgets will be flat in 2009 (compar... [
Full Story
]
Quebec Appeal Court says manufacturer's extended warranty is not an insurance contract
October 10, 2008 - 2:56pm
The Quebec Court of Appeal has found that the "Extra Care Protection" contract of a vehicle manufacturer is a warra... [
Full Story
]
PartnerRe sees 95-96% industry combined ratios for 2008 Q3
October 10, 2008 - 2:53pm
PartnerRe Ltd. (NYSE: PRE) predicts combined ratios for the non-life insurance industry in 2008 Q3 will be 95-96%, ... [
Full Story
]
What's New: In Brief
October 10, 2008 - 2:52pm
Michael Donoghue, president and CEO of Allstate Canada, has announced his retirement. [
Full Story
]
Loss ratios increase for Saskatchewan hail, auto insurers
October 9, 2008 - 5:01pm
Saskatchewan non-life insurers saw their loss ratios increase 6.4% in 2007, according to statistics recently releas... [
Full Story
]
Canadian securities administrators look at role of credit rating agencies in ABCP market
October 9, 2008 - 4:58pm
The Canadian Securities Administrators (CSA) posted a consultation paper on Oct. 6 that suggests the implementation... [
Full Story
]
What's New: In Brief
October 9, 2008 - 4:40pm
Jon Schubert has been appointed president and CEO of the Insurance Corporation of B.C. (ICBC), effective mid-Novemb... [
Full Story
]
AIG borrows an additional US$37 billion
October 9, 2008 - 4:31pm
American International Group, Inc. (AIG)'s domestic life insurance subsidiaries have borrowed approximately US$37.2... [
Full Story
]
Insurer to pay costs in "mixed" defence, even if they relate to uninsured claims
October 8, 2008 - 4:43pm
In a lawsuit involving "mixed claims," some of which are insured under a policy and some of which are not, the cost... [
Full Story
]
BFL Canada joins forces with Kansas City broker Lockton
October 8, 2008 - 4:39pm
BFL Canada and Kansas City-based Lockton have formed an alliance to serve clients in North America. [
Full Story
]
Risk managers predict both hard and soft markets arising out of financial crisis
October 8, 2008 - 4:36pm
The cascading financial services crisis in the United States has risk managers bracing for a hard market, although ... [
Full Story
]
Allianz invests US$2.5 billion in The Hartford
October 8, 2008 - 4:25pm
Allianz SE will provide a US$2.5-billion capital investment in The Hartford Financial Services Group, purchasing ro... [
Full Story
]
New York insurance regulator calls for regulation of credit default swap market
October 7, 2008 - 5:10pm
The Superintendent of the New York State Insurance Department has called on the United States federal government to... [
Full Story
]
Judge should determine whether injury is serious and permanent prior to jury deliberations
October 7, 2008 - 5:05pm
Ontario courts should consider if it would be best for a trial judge to determine whether or not an injury meets On... [
Full Story
]
What's New: In Brief
October 7, 2008 - 4:55pm
FM Global has made some changes to its senior management team, effective Jan. 1, 2009. [
Full Story
]
Combined ratios in U.S. property and casualty likely to break 100% by year-end
October 7, 2008 - 4:53pm
A.M. Best Co. has revised its year-end projections for the U.S. property and casualty industry, noting the adjusted... [
Full Story
]
Minor auto injury claimants do not have "immutable" characteristics eligible for Charter protection: lawyer
October 6, 2008 - 4:28pm
Minor auto injury claimants suffering from temporary disabilities do not have the same "immutable" characteristics ... [
Full Story
]
Canadians homes and businesses estimated to be underinsured by Cdn$11 billion
October 6, 2008 - 4:20pm
About 80% of Canadian houses today are undervalued by 27%, which hasn't changed since 1995, according to Peter Well... [
Full Story
]
Customer satisfaction with auto insurers increasing, homeowners insurance flattens
October 6, 2008 - 4:14pm
The gap in customer satisfaction reported by home insurance policyholders and auto insurance policyholders has stea... [
Full Story
]
Non-cancellable broker contracts needed for market stability
October 6, 2008 - 4:13pm
In order to achieve market stability, insurers and brokers should consider non-cancellable broker-partner contracts... [
Full Story
]
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