A D&O liability market recovery is far from certain, and underwriters will need to allocate their capital wisely to stay in the business, panelists told a symposium of the Professional Liability Underwriting Society (PLUS).PLUS is an international, non-profit association with…
Willis Group Holdings (NYSE: WSH) has appointed of three new members to the Canadian Advisory Board of Willis Canada Inc. Robert Hogan, D. Udo Nixdorf, and Bernard R. Wilson will join Willis Canada as senior members and advisors. Hogan, LL.M.…
The U.S. National Association of Insurance Commissioners (NAIC) recently agreed to establish a task force examining the impact of climate change on the insurance industry and consumers. The force will focus in on how the warming climate may affect insurance…
After raising a record $20,300 at last year’s ING Ottawa Marathon, WICC and ING are once again teaming up again at the 2006 ING Ottawa Marathon.The duo challenges brokers, employees and industry members to form teams and run or walk…
24/7 Customer, a provider of outsourced contact centers to Global 1000 companies, has launched a new 1,800-seat facility in Chennai, India, as a part of its continued partnership with Aviva, the world’s fifth largest insurance company.“The state-of-art facility is spread…
Buoyed by the value of its investments, the Canadian property and casualty industry’s total assets increased from CDN$61.094 billion in Q4 2004 to CDN$64.208 billion in Q4 2005.According to information collected by Canada’s Superintendent of Financial Institutions, Canada’s P&C Q4…
Following a recent report of strong quarterly and annual results by Royal & SunAlliance, Moody’s Investors Service has changed the outlook on the European ratings of the Royal & Sun Alliance Group to positive from stable. Ratings affected are the…
D&O insurers and risk managers take note: Canada’s version of the U.S. Sarbanes-Oxley Act has arrived.The Canadian Securities Administrators (CSA) recently announced proposals that would require all publicly-traded companies in all Canadian jurisdictions to report on the effectiveness of their…
Shortly after Royal Bank CEO Gordon Nixon decried the “absurdity” of Canada’s Bank Act, referring to the act’s provisions that prevent banks from retailing insurance within their local branches, National Bank of Canada president and CEO Ral Raymond told his…
Royal & SunAlliance in Canada has reported that its 2005 combined operating ratio (COR) is the best in history, at 94.8%Overall, the Royal & SunAlliance Group delivered a strong year-end result with a COR of 93.8% for ongoing businesses, compared…
Gallagher Re has signed a licensing agreement with risk modeler EQECAT Inc. to renew the use of part of the WORLDCAT enterprise catastrophe management software suite, to better manage client portfolio exposures to these perils. The programs renewed include EQECAT’s…
Catlin Group Ltd. has raised approximately $70 million from a share placing indicating strong business performance despite a decrease in profits of 84% due to last year’s catastrophic hurricane season. Pretax profits for 2005 dropped to $27.7 million from $173.9…