As the recession entrenches, job loss insurance protection programs are flourishing, providing protection to people who may wish to buy a car but are spooked by the prospect of losing their jobs during the lease.Most recently, the job loss protection…
PartnerRe Ltd. has inked a US$2-billion,‘multi-step transaction’ that will see it acquire Paris Re Holdings Limited.In the first step of the transaction, expected to close in 2009 Q4, PartnerRe will acquire the shares held by several significant shareholders — including…
MySpace Inc. is immune from strict product liability if an adult sexually assaults a minor in a meeting arranged through the Internet social networking site, a California appellate court has ruled.The court ruled Section 230 of the U.S. Communications Decency…
Five-year-old risk management measures adopted by Canadian agribusiness Viterra Inc. (TSX:VT) may soon benefit Australian farmers if a proposed merger between Viterra and ABB Grain (ASX:ABB) is finalized as planned.Subject to completion of the proposed merger between Viterra and Australian…
The Geneva Association has come up with proposed new insurance lines in four areas that would help insurers reduce risks associated with climate change, according to a research report, The insurance industry and climate change—Contribution to the global debate. The…
Andrew Cartmell has been appointed president and CEO of Saskatchewan Government Insurance (SGI). “We are extremely pleased Mr. Cartmell accepted Saskatchewan’s offer to lead SGI’s 1,800 staff forward in the years ahead,” June Draude, SGI minister, said in a release.…
Dealing with the potential fallout arising out of Ontario’s contracting economy has found its way into the provincial regulator’s planning and priorities for the upcoming year. In its June 2009 Statement of Priorities, the Financial Services Commission of Ontario (FSCO)…
The July 1, 2009 reinsurance renewals saw sufficient capacity in all areas, according to several broker overviews. This was despite predictions of dramatic rate increases to offset reinsurer losses over the preceding 12 months, according to Willis Re. Consistent with…
Financial failure is the greatest risk facing global supply chains according to 75% of companies surveyed in Aon and State of Flux’s 2009 Risk in 21st Century Supply Chains survey. Of the respondents reporting actual business interruption, 7% relate to…
Manitoba will upgrade its forest-fighting fleet with a Cdn$1.4-million investment in advanced avionics.The fleet consists of seven water bombers and will be enhanced with vision systems for pilots to help them battle fires when visibility is low, said Stan Struthers,…
Non-life insurance premiums declined only marginally in 2008, by 0.8%, mainly due to lower demand for cover and softening rates, according to a Swiss Re sigma study.In industrialized countries, non-life premiums fell 1.9%. Growth in the emerging markets remained strong…
Immunization for the H1N1 virus is expected to begin late October, according to Canada’s chief public health officer, as quoted by Reuters. Dr. David Butler-Jones, chief public health officer at the Public Health Agency of Canada, was quoted by the…