Topic
Insurance
Below-average Atlantic hurricane activity predicted
April 9, 2012 by Canadian UnderwriterForecasters expect a relatively mild season for Atlantic hurricanes this year because of cooler tropical waters and the potential development of El Niño conditions. Weather experts at Colorado State University (CSU) predict 10 named storms during hurricane season, which starts…
THE GUARANTEE COMPANY OF NORTH AMERICA CELEBRATES 140 YEARS IN CANADA!
April 9, 2012 Canadian Underwriter magazineApril 9, 2012 marks the 140th Anniversary of The Guarantee Company of North America. Since we opened our first office in Montreal in 1872, The Guarantee has grown to seven offices within Canada and 21 branches throughout the USA. With…
GIFFIN KOERTH ANNOUNCES NEW BUSINESS MANAGER THOMAS GRADY
April 9, 2012 Giffin Koerth Forensic Engineering & ScienceGiffin Koerth is pleased to welcome Thomas Grady as Business Manager. Thomas has a Bachelor of Commerce degree from McGill University and is a Certified Management Accountant (CMA). Thomas joins us with over 8 years of experience within finance and…
OSFI proposes changes to guidelines on corporate board structures, management practices
April 5, 2012 by Canadian UnderwriterThe Office of the Superintendent of Financial Institutions (OSFI) is proposing to update its 2003 Corporate Governance Guideline to encourage relevant financial industry experience on corporate boards, third-party reviews of management practices and the separation of risk and audit committees.…
Unauthorized electronic access to North American credit card payment processor’s system exposes data of up to 1.5 million cards
April 5, 2012 by Canadian UnderwriterGlobal Payments Inc., a provider of payment processing services for retailers and financial institutions, reported an unauthorized access into its payment processing system in April, exposing card data for up to 1.5 million card numbers. It is unknown if the…
Elliott Special Risks appoints Andre Paradis to manage Montreal office
April 5, 2012 by Canadian UnderwriterElliott Special Risks LP (ESR), a Markel International company, has appointed Andre Paradis as vice president and branch manager of the Montreal office. Paradis has more than 25 years of experience in the insurance industry. He began his career in…
A.M. Best affirms ‘A+’ financial strength rating for Intact
April 5, 2012 by Canadian UnderwriterA.M. Best has affirmed Intact Insurance Group’s financial strength rating of ‘A+’ after its acquisition of AXA Canada. The ratings agency announced it has removed from under review with negative implications and affirmed the financial strength ratings (FSR) of A+…
EQECAT launches new cat modeling platform
April 5, 2012 by Canadian UnderwriterRisk modeling firm EQECAT is releasing a new catastrophe software platform called RQE (Risk Quantification & Engineering) version 13. The platform, which will go live this fall, is “the single largest release of its kind,” according to EQECAT. It will…
Brian Grieve Appointed Vice President of Cameron & Associates
April 5, 2012 Cameron & Associates Insurance Consultants Ltd.Jim Cameron is pleased to announce the promotion of Brian Grieve to Vice President of Cameron & Associates Insurance Consultants. Brian has been invaluable to us since joining Cameron in the role of Operations Manager. He is a key contributor…
Everyone in the insurance industry – including the broker sales force – has a role to play in educating consumers about the use of credit scoring: IBC
April 5, 2012 by Canadian UnderwriterEveryone in the insurance industry, including the broker workforce, has a role to play in educating consumers about the use of insurance-based credit scores, the Insurance Bureau of Canada (IBC) said on Apr. 4. The IBC was responding to a…
Carnival lists $851 million in insurance recoverables
April 4, 2012 by Canadian UnderwriterCruise line operator Carnival Corporation posted $851 million in insurance recoverables in a filing for first-quarter 2012 results with the U.S. Securities and Exchange Commission (SEC). Carnival, which reported a loss of $139 million in the quarter, said “substantially all”…
Voluntary code on credit scoring not working: IBAO
April 4, 2012 by Canadian UnderwriterThe use of credit scoring for personal property insurance continues to result in consumer misunderstanding and unfairness in the marketplace, Ontario’s broker association said at an Apr. 4 press conference in Toronto. In a poll commissioned by the Insurance Brokers…