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What’s new: In brief (March 01, 2005)


March 1, 2005   by Canadian Underwriter


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RIMS has announced the CEOs of two of the world’s largest insurance brokerages will take part in a keynote panel on the broker compensation issue at its annual conference in Philadelphia this April. Marsh CEO Michael G. Cherkasky and AON Ceo Patrick G. Ryan will headline a keynote panel which will also include Canadian Susan Meltzer, current president of IFRIMA and a past RIMS president, as well as incoming RIMS president Ellen Vinck. David W. Kansas, money and investing editor for The Wall St. Journal will moderate the panel, set for Tuesday, April 19 at noon, as part of RIMS 2005. For more information visit www.rims.org.

The Innovation Group (TiG) is partnering with IBM to develop a global “client delivery center” for the insurance industry. The two signed a five-year deal to deploy TiG’s policy and claims solutions globally. “The new relationship will provide TiG greater depth in sales, distribution and delivery of solutions that are already supporting customers in more than six countries. For IBM, TiG represents the first supplier of vertical solutions to participate in the IBM Global Delivery model,” notes a TiG release.

The Bank of Canada Tuesday announced its would maintain its target on the overnight rate at 2.5%, and the Bank Rate would remain at 2.75%. The Bank says January economic data was “consistent with expectations” despite lower than expected output growth indicated by the “Canadian national accounts” data.


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