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A.M. BestTV: Executives Explore Hot Topics at A.M. Best’s Insurance Market Briefing – Canada: Ontario Auto, Catastrophes and Risk Management

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. BestTV has made available executive interviews and coverage from A.M. Best’s Insurance Market Briefing – Canada, held in Toronto. Hot topics discussed in the video coverage include Ontario’s auto rate-cut plan, catastrophes that hit Alberta and Ontario, and a heavier focus on risk management. Click on the links below for A.M. BestTV coverage of the event.

  • Canadian Insurers Seen Responding to Market Jolts: A.M. Best analysts and insurance industry executives at the A.M. Best Insurance Market Briefing - Canada, held in Toronto, explore the factors impacting the Canadian insurance landscape:
  • Aon Benfield SVP: Risk Culture Makes a Difference with ERM: Raymond Lui, a senior vice president for Aon Benfield, discusses why establishing a risk culture is key to making ERM more effective. Lui also talks about the impact of regulatory shifts in Canada and the interest he is seeing in Canada in catastrophe bonds and other ILS instruments:
  • Co-operators General VP: Company Preparing for Ontario's Auto Rate-Cut Plan: Karen Higgins, vice president of finance at Co-operators General Insurance Co., says that the company is gearing up for the Ontario government's mandate to reduce auto rates by 15% over the next two years. Higgins also discusses the impact the recent back-to-back catastrophes – the Alberta and Toronto flooding - have had on the company:
  • Geneva CEO Sees Mingling of Banking, Insurance Muddying Risk Management: Bill Star, president and CEO of Geneva Insurance Co., talks about risk management and exposure issues he sees with banks that have insurance activities, largely uncovered by the Alberta flooding. Star also discusses challenges to the property/casualty industry, citing Ontario's auto rate-cut plan as an example of overstepped regulation:
  • A.M. Best's Irwin: Canada Life Sector Looking to De-Risk: A.M. Best Vice President Stephen Irwin talks about how Canadian life writers are responding to difficult operating conditions, with efforts that include the de-risking and redesign of products, more focus on asset management, and interest in overseas business:
  • A.M. Best's Williams: Ontario Auto a Top Challenge for P/C Sector: A.M. Best Assistant Vice President Greg Williams speaks about challenges to the Canadian property/casualty sector, including Ontario's auto rate-cut plan and catastrophe losses. Williams said analysts will be monitoring how companies work their way through the losses caused by the spate of catastrophes that hit the country in 2013:

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A.M. Best Co.
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
Rachelle Morrow, 908-439-2200, ext. 5378
Senior Manager, Public Relations