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Guy Carp forced to take case across the pond

July 13, 2007 by Canadian Underwriter

The UKs Court of Appeal handed down judgement that three former Guy Carpenter executives who defected to competitor Integro must be sued in the UK, where they live and work, not in New York, where Guy Carps parent company is

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (July 09, 2007)

July 9, 2007 by Canadian Underwriter

A new poll by the Traffic Injury Research Foundation (TIRF) shows that nearly 1.3 million Ontarians fell asleep or nodded off while driving at least once in the past year, with 100,000 of these drivers doing so on five or

News Climate ChangeInsurance

TSR downgrades 2007 storm forecast

July 6, 2007 by Canadian Underwriter

The Tropical Storm Risk (TSR) has downgraded the hurricane forecast from 55% above-norm in June to 40% above-norm in July. According to a Benfield news release, the reason for the reduction is that the trade wind speed over the tropical

News Insurance

What’s New: In Brief (July 05, 2007)

July 5, 2007 by Canadian Underwriter

A.M. Best Co. has affirmed the financial strength rating of A (excellent) of Royal Bank of Canada Insurance Company Ltd. (RBCI). RBCI benefits from a very secure equity capital base, a broad geographical spread of risk, which is concomitant with

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (July 03, 2007)

July 3, 2007 by Canadian Underwriter

A.M. Best Co. is hosting a comprehensive, one-day conference in Toronto to explore the issues facing the Canadian insurance industry. The 2007 Review& Preview ConferenceCanadian Update will be held Sept. 21 from 8:30 a.m. to 3 p.m. at the Westin

News Climate ChangeInsurance

What’s New: In Brief (June 29, 2007)

June 29, 2007 by Canadian Underwriter

Swiss Re has created what it says are the first catastrophe bond indices on the market, A.M. Best has reported, giving the market better information on returns related to risk.Richard Pennay, in the structuring department at Swiss Re Capital Markets,

News Climate ChangeInsuranceMergers and Aqcuisitions

Insured damages creep past Cdn$1 billion in UK floods

June 28, 2007 by Canadian Underwriter

Initial estimates by Risk Management Solutions (RMS) suggest insured losses from recent floods that continue to batter the United Kingdom could exceed 500 million [Cdn$1.06 billion]. The rainfall situation, caused by a stationary east coast depression that draws moisture from

News Insurance

What’s New: In Brief (June 28, 2007)

June 28, 2007 by Canadian Underwriter

Simmlands Insurance Brokers Ltd. is joining forces with Women in Insurance Cancer Crusade (WICC) to present the 2007 Canadian PGA Womens Championship Pro-Am on July 30 at the Ladies Golf Club of Toronto.This inaugural event will provide a fun-filled day

News Insurance

What’s New: In Brief (June 27, 2007)

June 27, 2007 by Canadian Underwriter

Benfield has inked an agreement with Lloyds to provide an extensive range of risk modelling and consulting services to the market and its syndicates. Under the terms of the five-year agreement, Lloyds will license Benfields dynamic financial analysis modelling tool

News Insurance

Guy Carpenter increases presence in Bermuda

June 26, 2007 by Canadian Underwriter

Guy Carpenter & Company LLC, a global risk and reinsurance specialist, has appointed a new Head of Office and expanded its office capabilities and resources in the Bermuda reinsurance market. It has been a landmark year for Guy Carpenter, as

News Climate ChangeInsurance

Cat models must be better at recognizing uncertainty

June 26, 2007 by Canadian Underwriter

Catastrophe modelers must do a better job of expecting the unexpected, according to speakers at a European conference, as reported by A.M. Best.I think we need to move to this new age the Age of Recognized Uncertainty, A.M. Best quotes

News Insurance

Top companies not using captives to full potential

June 26, 2007 by Canadian Underwriter

Contrary to popular belief, the captive market remains underdeveloped and more than half of the world’s top 1,500 companies (G1500) do not currently own a captive, according to research by Aon Global Risk Consulting.This means that insurance buyers within the