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Diversification and divestiture key to meeting Solvency II capital requirements: Guy Carpenter

March 17, 2011 by Canadian Underwriter

Small and mid-size firms, the most vulnerable to Solvency II’s heightened capital requirements, may consider diversification and divestiture to lessen the impact of capital charges, reports Guy Carpenter.Increasing reliance on reinsurance is an obvious solution to meeting additional capital requirements,

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Extended disruption to global supply chains possible after Japanese earthquake

March 17, 2011 by Canadian Underwriter

Organizations need to prepare for the possibility of an extended disruption to global supply chains resulting from the March 11 Japan earthquake and tsunami, Marsh warned.Rather than the physical destruction of the production facilities, most of the supply chain disruption

News InsuranceMergers and Aqcuisitions

More Manitobans are buckling up, but road fatalities persist: MPI

March 17, 2011 by Canadian Underwriter

Thirty percent of road deaths in Manitoba are linked to a lack of seatbelt use, according to a recent Transport Canada study. While the study on seatbelt use found that more Manitobans are buckling up, there are still many who

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EQECAT releases total insured loss estimate from Japanese earthquake

March 17, 2011 by Canadian Underwriter

EQECAT has released its estimate of total insured losses from the March 11 Japan earthquake and tsunami to between $12 and $25 billion.  The largest component of the insured loss will be covered by the property insurance market, which provides

insPRESS Insurance

CRU opens new training facility in Oklahoma

March 16, 2011 CRU - Catastrophe Response Unit

CRU Adjusting has opened a state-of-the-art training facility in Ardmore, Oklahoma. Our courses feature comprehensive catastrophe claims training utilizing the Xactimate software that is popular with many insurance carriers today and making us a contender among competing courses. The centre

News InsuranceMergers and Aqcuisitions

Majority of insurers report improved COR in 2010: MSA Research

March 16, 2011 by Canadian Underwriter

*** Correction: Please note that this item has been amended from its original post on March 16. The Dominion’s combined operating ratio was incorrectly reported as 97.7% for 2010. The correct COR is 102.1%. Apologies for the error. Of the

News InsuranceMergers and Aqcuisitions

Federally regulated foreign insurers see drop in 2010 net income

March 16, 2011 by Canadian Underwriter

Federally regulated property and casualty insurers reported a net income of $2.5 billion in 2010, virtually flat from 2009’s net income of $2.52 billion, according to filings with the Office of the Superintendent of Financial Institutions (OSFI). Foreign P&C insurers

News InsuranceMergers and Aqcuisitions

Japan earthquake likely to have limited affect on ratings

March 16, 2011 by Canadian Underwriter

The March 11 Japan earthquake, and the nuclear plant fires and tsunami that followed, will likely not have any major ratings implications, according to A.M. Best, Standard & Poor’s and Fitch Ratings. Moody’s is the only agency of the four

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Economic growth spurs shift in corporate risk profiles: Advisen

March 16, 2011 by Canadian Underwriter

As the economy slowly recovers, businesses need to be aware of how an up tick in activity can alter there risk profiles, cautions Advisen.In its report, Managing Risk Through the Economic Recovery, Advisen identifies areas where critical changes to a

insPRESS Insurance

Rochon Engineering Launches New Website

March 16, 2011 Rochon Engineering Inc.

Rochon Engineering launched their NEW website today www.rochons.ca . This coincides with their annoucement last week of  their new Ottawa office which officially  opens  April 1st. http://www.rochons.ca

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Social media represents opportunity for companies facing product liability claims

March 15, 2011 by Canadian Underwriter

Social networking sites can amplify product liability risks, but they also offer an opportunity for a company facing a product recall to take control of communication around the recall, reported Lloyd’s. Even a small derogatory statement on a social networking

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Canadian males more likely than women to die in alcohol-related crashes: TIRF

March 15, 2011 by Canadian Underwriter

The incidence of alcohol in crashes in which a Canadian male died in 2008 was significantly higher than that of women, the Traffic Injury Research Foundation (TIRF) reported. TIRF’s report, The Alcohol Crash Problem In Canada, draws information from two