Topic
Insurance
What’s New: In Brief (July 17, 2007)
July 17, 2007 by Canadian UnderwriterKroll, a risk consulting company, is combining forces with Direct Marketing Centre Inc. (DMC) to provide Identity Theft Restoration services in Canada. Kroll announced that as part of the strategic alliance, DMC a third-party administrator and solution provider to credit…
What’s New: In Brief (July 17, 2007)
July 17, 2007 by Canadian UnderwriterKroll has announced it is combining forces with Direct Marketing Centre Inc. (DMC) to provide Identity Theft Restoration services in Canada. Kroll (a risk consulting company) announced that as part of the strategic alliance, DMC (a third party administrator and…
What’s New: In Brief (July 17, 2007)
July 17, 2007 by Canadian UnderwriterTransportation Property & Casualty Co., Inc. (TPCC) has been assigned a financial strength rating of A- (Excellent) by A.M. Best & Co.These ratings are the first to be assigned to a Canadian captive insurance company domiciled in Burnaby, British Columbia.…
What’s New: In Brief (July 16, 2007)
July 16, 2007 by Canadian UnderwriterCanada’s first online brokerage EasyInsure.ca launched in April, according to a release. Direct insurance has been sold online quite successfully over the last few years, but the benefits of a brokerage, including the ability to pull rates from several sources,…
What’s New: In Brief (July 16, 2007)
July 16, 2007 by Canadian UnderwriterAs the soft market approaches its fourth year, director and officers, and general liability premiums are dropping in 2007 Q2, while commercial property premiums remain stable, according to The Risk and Insurance Management Society (RIMS) Benchmark Survey and analysis conducted…
Guy Carp forced to take case across the pond
July 13, 2007 by Canadian UnderwriterThe UKs Court of Appeal handed down judgement that three former Guy Carpenter executives who defected to competitor Integro must be sued in the UK, where they live and work, not in New York, where Guy Carps parent company is…
Willis to educate risk managers about corporate risks of kidnapping/extortion
July 13, 2007 by Canadian UnderwriterWillis Special Contingency Risks Limited (SCR) is hosting a global Web cast conference call on July 17, 2007, to educate risk managers, corporate risk officers and directors and officers about the risks of international kidnapping and extortion.Movie and television depictions…
FSCO changes PAF guideline for whiplash injuries
July 12, 2007 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) is releasing a revised Pre-approved Framework (PAF) Guideline for Grade I and II Whiplash Associated Disorders and accompanying Pre-approved Framework Extension Request and Discharge Report form (OCF-24/198).The new PAF Guideline is effective on…
US insurers Q2 cat costs tied with 2nd lowest in 10 years
July 12, 2007 by Canadian UnderwriterU.S. property and casualty insurers are expected to pay homeowners and businesses and estimated $2.175 billion [approximately Cdn$2.28 billion] for Q2 property losses resulting from a total of six catastrophes in 25 states, reports the ISO. The ISOs Property Claims…
Lloyd’s threatens to mandate use of electronic processing tools
July 11, 2007 by Canadian UnderwriterLloyds current use of Electronic Claims File and the Accounting and Settlement Repository (A&S) fall short of the goals set by the Market Reform Group (MRG), prompting the markets chief executive to threaten mandating the use of the electronic processing…
Allianz Group acquires AIM Underwriting Ltd. in Canada
July 11, 2007 by Canadian UnderwriterAllianz Global Corporate & Specialty North America, the corporate and specialty carrier of the Allianz Group in North America, has acquired AIM Underwriting Ltd. (AIM) in Canada.Since its establishment in 1999, AIM, a managing general agent, has maintained a strong…
What’s New: In Brief (July 10, 2007)
July 10, 2007 by Canadian UnderwriterKingsway Financial Services Inc. (TSX: KFS) and its newly formed subsidiary Kingsway 2007 General Partnership (KGP) announced the closing of the public offering of Cdn$1 million prinicipal amount of 6% senior unsecured debentures of KGP.The debentures were sold through a…