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Some insurance companies appearing at public hearings of Alberta’s Auto Insurance Rate Board have called for a steep and swift increase in basic auto premiums.

    But some recommended staggered increases to ease the blow while others suggested the board dispense with industry-wide rate setting altogether.
    ING Insurance recommended an industry-wide hike of 37%. “Not all [...]

    With independent brokers fighting off direct writers, banks and takeovers by insurers, Thompson’s asked industry veteran John McArthur for his views on their future.
    The chairman of AMAC Consultants is a former president and ceo of the Canadian subsidiaries of two U.S.-based insurers. He now specializes in mergers and acquisitions and senior level executive [...]

Citing declining auto theft claims, Manitoba Public Insurance is seeking a 1% overall reduction in Autopac rates for 2009-2010.
    Most premiums would rise or fall by less than $20, with an average passenger vehicle premium of $853.
    In its rate application to the provincial Public Utilities Board, MPI proposed a rate menu that would see [...]

An economic slowdown resulting from the credit crisis and continuing financial market volatility top of the list of perceived short-term risks for reinsurers.
    The International Association for the Study of Insurance Economics, also known as The Geneva Association, surveyed chief executives of leading reinsurance companies at its general assembly in Bermuda, hosted by XL Group, [...]

Ever-acquisitive Western Financial Group has concluded another brokerage shopping spree — and may next turn its sights on lending companies.
    Based in High River, Alta., it has sealed the purchases of:
    - Vet’s Insurance in Coleman, Alta.
    - Dunn Realty & Insurance in Wolseley, Sask., with a second location in Glenavon, Sask., as well as [...]