Canadian Underwriter

Topic
Insurance


News Insurance

Boom in extractive industries could lead to skewed asset valuations: Swiss Re

September 24, 2008 by Canadian Underwriter

A boom in the extractive industries including the mining and oil and gas sectors has created new challenges for the insurance industry, including asset evaluations and determining true business interruption (BI) numbers.“Reinstatement costs [are] often underestimated, leading to insufficient premium

News Insurance

OSC temporarily suspends short selling of issuers such as Fairfax, Kingsway and Manulife

September 24, 2008 by Canadian Underwriter

The Ontario Securities Commission (OSC) has issued an amended order under Section 144 of the Securities Act that temporarily prohibits short selling of certain financial sector issuers. This follows an order prohibiting short selling of securities of certain financial sector

News Insurance

What’s New: In Brief (September 24, 2008)

September 24, 2008 by Canadian Underwriter

Cunningham Lindsey Canada Claims Services Ltd. has opened an office in Kelowna, B.C., and has appointed Scott Jordan as district manager.Jordan has spent 10 years with the Insurance Corporation of British Columbia as a special investigations unit officer and special

News Insurance

CSIO to switch service providers, industry urged to change IP addresses on Nov. 21

September 24, 2008 by Canadian Underwriter

The Centre of the Study of Insurance Operations (CSIO) will switch service providers for its upload/download system, CSIOnet, on Friday, Nov. 21, 2008.All insurance brokers, companies and vendors that use the network must change their IP address setting on that

News Climate ChangeInsurance

What’s New: In Brief (September 23, 2008)

September 23, 2008 by Canadian Underwriter

Swiss Re expects its collective net claims for Hurricanes Gustav and Ike will total approximately US$300 million, the reinsurer announced Sept. 23.Swiss Re estimated its Hurricane Gustav claims exposure would amount to approximately US$50 million when all was said and

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (September 23, 2008)

September 23, 2008 by Canadian Underwriter

American International Group Inc. (AIG) may need to sell more than half of its businesses, and the most coveted of its properties could be its international life businesses and the domestic retirement unit, according to Reuters, citing a Credit Suisse

News Climate ChangeInsurance

Expressing empathy immediately is key to riding out a crisis, risk managers told

September 23, 2008 by Canadian Underwriter

When faced with a crisis endangering a company’s reputation, it is vital for the spokesperson of that organization to immediately express empathy and then stress what the organization is doing at that moment to investigate and remedy the situation. The

News Insurance

Good environmental policies lead to sound economies, RIMS Canada Conference told

September 23, 2008 by Canadian Underwriter

Good environmental policy is identical to good economic policy, Robert F. Kennedy Jr. told delegates attending the 33rd Annual Risk and Insurance Management Society (RIMS) Canada Conference in Toronto.He suggested de-carbonizing a society quickly would lead to greater efficiency, more

News Insurance

Financial crisis highlights important role of risk managers, panelists say

September 22, 2008 by Canadian Underwriter

The recent global financial services turmoil may produce opportunities for risk managers to have their voices heard within the upper echelons of their organizations, a panel of international risk managers told delegates attending the 33rd Annual Risk and Insurance Management

News Insurance

International insurance regulators intensify coordination in response to financial turmoil

September 22, 2008 by Canadian Underwriter

Following the U.S. Federal Reserve’s US$85-billion bailout of the American International Group Inc., the International Association of Insurance Supervisors (IAIS) says it is “taking steps to intensify supervisory coordination efforts in response to the current financial market turmoil.”Key insurance supervisors

News Insurance

George Simpson receives the 2008 Donald M. Stuart Award

September 22, 2008 by Canadian Underwriter

The RIMS Ontario Chapter named George Simpson, senior manager of risk management and insurance of EPCOR Utilities Inc., as the 2008 recipient of the Donald M. Stuart Award. The award was presented at the 33rd Annual Risk and Insurance Management

News Insurance

Failure to assess risk properly contributed to financial turmoil, UN envoy Stephen Lewis tells RIMS Canada Conference

September 22, 2008 by Canadian Underwriter

At least US$1 trillion will be used to bail out the major capitalist financial structures of the United States of America because of a complete contempt for regulation and the absence of intuitive discernment on the part of risk managers,