News

OSFI Updates Capital Framework Guidelines

Risk-based principles ground the recommendations outlined in a new capital adequacy paper prepared by The Office of the Superintendent of Financial Institutions (OSFI).
The office’s …

U.S. P&C Insurers Make Gains

Healthier investment markets and better underwriting results helped boost operating profits for U.S. P&C insurers during the first nine months of 2009.
Though the industry …

Bulletin: Reinsurance Rates Decline

Most lines of business saw reinsurance rates fall at January 2010 renewals, according to the Guy Carpenter World Catastrophe Rate on Line (ROL) Index. The …

Phantom Thefts, Injury Top Manitoba Fraud Attempts

After a hit-and-run, a Manitoba man claimed his car was stolen from a hotel, but when police paid a home visit, his vehicle sat in …

More Capital, Stronger Footing for Industry Renewals: Aon Benfield

Rebounding capital levels have put insurers and reinsurers on more solid ground for Janaury 2010 renewals compared to 2009, reports Aon Benfield.
Capacity for the global …

Co-operators Life acquire the CUMIS Group

Co-operators Life Insurance Company and Central 1 Credit Union have completed their acquisition of The CUMIS Group Limited of Burlington, Ontario, effective December 31, 2009.
Under …

Severe weather in 2009 was costly and unpredictable: IBC

The unpredictable and costly claims of 2009, due to severe weather, is an urgent call for action to tackle climate change, says the Insurance Bureau …

Commercial liability growth poses new challenges: Swiss Re

Growth in the commercial insurance liability sector poses crucial underwriting challenges for insurers and government, who must work together to keep liability risks insurable, according …

OSFI Updates Part XIII Changes

The Office of the Superintendent of Financial Institutions has issued a final update on upcoming amendments to Part XIII of the Insurance Act …

Bulletin: Alberta Insurance Council Backs Awards

The Alberta Insurance Council has created two post-secondary scholarships for Alberta university students. The $2,000 awards will go to students in the insurance …

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