What’s New: In Brief (January 30, 2007)

Travelers Guarantee Company of Canada (“Travelers”) has designed a new policy to give improved protection to mineral exploration companies.
“Travelers Mineral Exploration Policy helps junior mining companies and their executives deal with the multitude of exposures they face in their business,” the company announced in a press release.
Such exposures, the company added, are “stemming from mining-targeted securities regulations, kidnap-and-ransom threats prevalent in foreign operations, merger and acquisition risks, interactions with investors, employees, shareholders, governmental agencies and pension plan participants.”
Specifically, the Travelers policy can provide the following coverages:
Commercial property, including core and product samples;
Commercial General Liability;
Corporate Management Liability;
Kidnap and Ransom;
Portable or mobile mineral exploration and surveying equipment; and
Foreign Voluntary Workers Compensation and Employer’s Liability
“A burgeoning commodities market, growing market capitalizations, and recent securities legislation amendments have contributed to an increase in liability exposures for directors and officers, ” said Steve Smith, assistant vice president of financial and professional services. “Our mineral exploration policy is tailor-made for junior mining companies and addresses the unique risks and exposures these companies face.”
Travelers introduced the new policy at the annual “Mineral Exploration Roundup 2007” symposium in Vancouver, British Columbia.

Mr. Ral Circ, the president and CEO of La Capitale General Insurance, has officially retired as of Jan. 4, 2007, after 25 years at La Capitale.
Circ spent almost 18 years as the president and CEO of the company.
“Mr. Circ has left La Capitale General Insurance and its employees in very good hands,” La Capitale announced in a press release.
John Strome, the executive vice president of La Capitale General Insurance for the past three years, has now taken on the role of president and CEO.
Strome joined La Capitale General Insurance team in 1985 and has successively held the positions of regional manager for Trois-Rivires, insurance manager, director of operations, vice president of sales and development and, most recently, executive vice president.
Strome’s “presence within the company over the past 22 years guarantees the continued commitment to La Capitale General Insurance’s corporate values: integrity, profitability, controlled growth, quality service and personnel satisfaction,” The company said in a press release. “There is no doubt that since Mr. Circ and Mr. Strome have worked side by side for more than 20 years, the company’s philosophy is set to remain intact.”