Canadian Underwriter

What’s new: In brief (December 22, 2004)

December 22, 2004   by Canadian Underwriter

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Standard & Poor’s has affirmed the “B” counterparty credit on adjuster Lindsey Morden Group Inc., with a stable outlook. S&P says the rating reflects a positive view of the sale of the adjuster’s U.S. third-party administration business which should lead to more stable financial results.

Crawford Adjusters Canada Ltd. has named Stephen Anderson as senior vice president, responsible for human resources, professional development and the “ClaimsAlert” division. Anderson has more than 34 years experience in human resources and employee development roles, moving over to Crawford in 1995 to set up the human resources department. He most recently served as vice president on the executive management team.

Fund management firm Caisse de depot et placement du Quebec has decided to abolish its “soft dollar” commissions on equity and derivatives trading to brokers in response to the controversy over intermediary compensation practices in securities trading. Soft dollar commissions are widespread in the fund management business and are paid on top of brokerage fees to compensate for research and financial information services provided by brokers. Such services will now be compensated on a direct basis.

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