Topic
Insurance
Integro and Indemnis partner up
September 25, 2006 by Canadian UnderwriterIntegro Insurance Brokers has implemented a new business venture with Indemnis Trade Risk Management, which will allow the broker to offer new trade risk management programs to its North American clients. “We are enthusiastic about our firm’s collaboration with Indemnis…
Syncro starts side car-style arrangement with Lloyd’s
September 22, 2006 by Canadian UnderwriterSyncro Limited, a Bermuda-based company, is establishing a Bermuda sidecar-like reinsurance arrangement to allow Lloyd’s managing agencies to increase their underwriting access to additional capacity at any point in the underwriting year. Structurally, the arrangement is similar to a side…
ICBC launches mobile Web service
September 22, 2006 by Canadian UnderwriterICBC has launched a new Web site for mobile Web users to help ease the stress of being involved in a crash or experiencing a vehicle breakdown.The mobile version of www.icbc.com provides critical information on how to report a claim,…
Willis North America welcomes new CEO
September 22, 2006 by Canadian UnderwriterWillis North America has appointed Don Bailey to the position of chief executive officer. Bailey succeeds Mario P. Vitale, who, after six years at Willis, will leave the brokerage to take the position of CEO of Zurich’s Global Corporate North…
Munich Re implements new IT platform
September 21, 2006 by Canadian UnderwriterMunich Re has replaced its legacy systems with a new IT platform, Gloria (Global Reinsurance Application) platform. This new platform is intended to standardize business processes and the handling of reinsurance business. Munich Re says the new IT platform should…
MMC rating remains despite possible Putnam transaction
September 21, 2006 by Canadian UnderwriterStandard & Poor’s Ratings Services says Marsh Marsh & McLennan Cos.’s (NYSE:MMC) ‘BBB’ rating will not be affected by the Company’s plan to complete a market check of its Putnam Investments unit, in order to determine its value. S &…
Camillion launches new system for product development
September 21, 2006 by Canadian UnderwriterCamilion Solutions, a private company based in Toronto, New York and California which provides product management, underwriting and online sales solutions for the insurance industry has released ProductAuthority(TM) V5.1 the company’s flagship enterprise product management solution.“ProductAuthority V5.1 now incorporates the…
Travelers offers cover for investment advisors
September 21, 2006 by Canadian UnderwriterSt. Paul Guarantee Insurance Company (Travelers) has introduced a new policy to give added protection to investment advisers, mutual funds and hedge funds for risks associated with providing asset management products and services to investors.“Investment advisers, mutual funds and hedge…
Aviva funds emergency relief program
September 20, 2006 by Canadian UnderwriterAviva is one of the corporate donors that is funding international aid agency Oxfam’s initial response operations, which will enable it to deal immediately with disasters whenever and wherever they occur.This includes a global rapid response team of aid workers…
Max Re Opens Aviation Unit
September 20, 2006 by Canadian UnderwriterMax Re Capital Ltd.’s subsidiary, Max Re, has launched an aviaition insurance unit.The aviaition unit, which will be based in the Company’s Dublin office, will be led by senior vice-president Olivier Marre. Previousy Marre the was general manager of underwriting,…
Lloyd’s commemorates 9-11 as “market-changing”
September 20, 2006 by Canadian UnderwriterLloyd’s of London recently commemorated Sept. 11, 2001, noting how the event changed the entire face of the insurance industry.Benfield chief executive Grahame Chilton noted the effects of 9-11 on the insurance industry during Rendez-Vous, an event that marks the…
Risk managers to turn toward credit financing in future
September 20, 2006 by Canadian UnderwriterOver the next 15 years, risk managers may be looking more towards credit financing as a means to backstop major catastrophes, rather than relying on more traditional forms of insurance or reinsurance, a panelist told participants at the 2006 RIMS…