Canadian Underwriter

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Insurance


News Insurance

RMS launches reinsurance software

June 20, 2007 by Canadian Underwriter

Risk Management Solutions (RMS) has launched a software platform that aims to enable insurance industry professionals to gain a more comprehensive view of their portfolio risk. “The Reinsurance Platform will help insurance, reinsurance, and catastrophe management professionals to reduce uncertainty

News InsuranceMergers and Aqcuisitions

New firm to serve as liason between insurers and contractors

June 19, 2007 by Canadian Underwriter

At a time when independent adjusters are voicing concerns about a shrinking job market due to insurers working directly with contractors, a new network is set to enter the Canadian market that will work as a third-party administrator between insurers

News Insurance

France-based insurer acquires two Quebec brokerages

June 19, 2007 by Canadian Underwriter

French insurer April Group has announced its new presence in Canada with the acquisition of two Quebec brokerages, Escapade Assurances Voyages, and Dave Rochon Assurances.Escapade, situated in Sainte Croix, was created in 2003 and specializes in travel insurance for short

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (June 19, 2007)

June 19, 2007 by Canadian Underwriter

Western Financial Group Inc. announced it has retained a syndicate of agents co-led by CIBC World Markets Inc., Desjardins Securities Inc. and Jennings Capital Inc., and including Acumen Capital Finance Partners Limited, to offer on a best-efforts, private-placement basis between

News Climate ChangeInsuranceMergers and Aqcuisitions

Canadian P&C industry must heed lessons of past soft markets, A.M. Best warns

June 19, 2007 by Canadian Underwriter

The Canadian property and casualty industry posted excellent results in 2006, sporting a 91.7% combined ratio and a 17% return on equity (ROE), but it should be mindful of the lessons learned from soft markets in the past as 2007-08

News Insurance

What’s New: In Brief (June 18, 2007)

June 18, 2007 by Canadian Underwriter

The Risk and Insurance Management Society (RIMS) has sponsored publication of a new handbook to help people make sense out of that nebulous area known as Enterprise Risk Management (ERM). The title of the book which would be familiar to

News Insurance

Chicoutimi insurance broker convicted on charge of tax evasion

June 18, 2007 by Canadian Underwriter

Gestion MRCI Inc., known under the company name of AssurExperts Gingras Jacques Lajoie et Associs lte, of Chicoutimi, has been found guilty of tax evasion by the Court of Quebec.In a press release, the Canada Revenue Agency (CRA) notes the

News Insurance

What’s New: In Brief (June 18, 2007)

June 18, 2007 by Canadian Underwriter

Aon Reed Stenhouse Inc. has announced the appointment of Christine Lithgow as executive vice president, national client service, market relations for Aon Reed Stenhouse and as a member of the national executive committee. Lithgow began her career at Reed Stenhouse

News InsuranceMergers and Aqcuisitions

PPG Canada announces appointments in automotive refinish group

June 18, 2007 by Canadian Underwriter

PPG Canada has announced three new appointments within its Automotive Refinish group, including Denis Cloutier, insurance services manager, Eastern Canada, Jennifer Rosiak-Wong, Canadian advertising manager, and Bruce Young, district manager, collision programs.Cloutier will work with the Canadian insurance industry to

News Climate ChangeInsurance

Allocating 2007 hurricane losses: primary insurers or reinsurers?

June 15, 2007 by Canadian Underwriter

Climactic conditions are ripe for an active storm season and obviously an active storm season increases the likelihood that the insurance industry will incur losses, according to a June 2007 report by Fitch Ratings, entitled Hurricane Season 2007: A Desk

News Climate ChangeInsurance

Cat model updates increase demand surge assumptions

June 15, 2007 by Canadian Underwriter

The catastrophe models in 2007 have updated their demand surge assumptions and industry exposure levels, resulting in an increase in estimated average annual losses, according to Fitch Ratings Hurricane Season 2007: A Desk Reference for Insurance Investors.Because catastrophe losses fell

News Insurance

What’s New: In Brief (June 15, 2007)

June 15, 2007 by Canadian Underwriter

Vito Pisano, an agent with Allstate Insurance Company of Canada, spoke recently at Alexander MacKenzie High School as part of MADD Canadas Mind Controla multimedia show for the Youth Assembly Program being presented at high schools across the country.The program