News

Aviva Reorganization Affects 220

Organizational changes at Aviva Canada Inc. will eliminate 220 to 250 positions across the country this year.
The reduction “isn’t a downsizing,” says Sally Turney, …

Leading Indicators Fall: StatsCan

The composite index of leading indicators fell 0.6% in December, with the decline led by the equity and real estate markets, according to StatsCan.
The …

Different Challenges for P&C Industry in 09: S&P

Despite the current economic malaise, underwriting results in for North American personal lines insurers will likely be “respectable” in 2009 and could even outperform last …

Briefly…UBS buys AIG commodities index business, Zurich Adds to Product Portfolio

Troubled U.S. insurance giant, American International Group, has found a
buyer for its commodity index operations, …

Greatest Challenge for 2009: Risk Ignorance

According to research conducted by Aon, 70% of U.K. risk managers say ensuring that employees in their organizations are risk savvy is now their biggest …

Awaiting Hartling Appeal, IBC Seeks Better Consumer Education

Canadian insurers will have their attention fixed on the courts a little longer-but they have a job to do while they wait, according to the …

Cat Risks Amplified by Poor Coordination: Risk Report

Natural catastrophes continue to be a major global risk because-in part-of poor coordination between international governments on climate change issues, says a new report outlining …

Peace Hills Outlook Downgraded

Declining asset values and earnings have dimmed the outlook for Peace Hills General Insurance Company. Ratings agency A.M. Best has revised its outlook for the …

Commercial Insurance Market “Positive”: IBC Survey

Just before the economic downturn, Canadian businesses reported better access to commercial insurance and even better pricing, according to two recent Insurance Bureau of Canada …

Briefly…B.C. Storms Cost $39 Million So Far

Winter storms on the West Coast have caused collapsed roofs, burst pipes and wind damage-and sizeable insurance losses, the Insurance Bureau of Canada (IBC) reports. …

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