Topic
Insurance
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…
Ottawa’s Kim Hunton wins risk management award
September 19, 2006 by Canadian UnderwriterKim Hunton of Ottawa is the 2006 recipient of RIMS Canada’s Donald M. Stuart Award, established in 1979 to recognize outstanding contributions to the field of risk and insurance management in Canada.Hunton received the award at a special awards presentation…
Popularity of reinsurance modelling increases
September 19, 2006 by Canadian UnderwriterCompanies attempting to optimize their reinsurance programs are turning to reinsurance modeling more and more, A.M. Best reports.The ratings agency notes Raju Bohra, a senior vice president at Willis Re Inc., made the observation at the 111th National Association of…
Desjardins signs CD$670-million deal with Bell Canada
September 19, 2006 by Canadian UnderwriterDesjardins Group, an integrated financial group in Canada that includes life and general insurance services, has renewed its service agreement with Bell Canada.The new agreement, valued at approximately CD$670 million, will go into effect Jan. 1, 2007. It states Bell…
Liberals win in New Brunswick; auto insurance reforms next?
September 19, 2006 by Canadian UnderwriterNew Brunswick’s Liberal Party, led by Premier Shawn Graham, has been elected to government, raising the question of what — if anything — will happen next regarding the introduction of public auto insurance in the province.Graham’s party came to power…
2006 RIMS Canada Conference grows
September 18, 2006 by Canadian UnderwriterOnce again the bar measuring the success of the annual RIMS Canada Conference has been raised with a record registration number of 699, secretary of the RIMS Canada Council Bruce Tainsh told the audience at the 2006 RIMS Canada Conference…