What’s New: In Brief (February 23, 2007)

Woodhouse Contracting Ltd. has joined a strategic partnership with Edenvale Restoration, uniting two of the largest independent companies in the Canadian disaster restoration industry.
Edenvale, with headquarters in Abbotsford, B.C., operates in the British Columbia Lower Mainland with operation branches in Burnaby, Chilliwack and Surrey.
Woodhouse, with headquarters in Kitchener, Ontario, operates in southern Ontario with operating branches in Stratford, Brantford, Guelph, Hamilton, Orangeville and Mississauga, as well as TorQuest Partners, a Canadian-based firm that specializes in strategic leadership and capital management.
Despite a change in the ownership structure of the business, resulting in a new entity named EW Disaster Kleenup L.P., the day-to-day operations of both Woodhouse and Edenvale will continue as they presently do.

General global trends point to increasing claims both in frequency and severity, according to a new report issued by Aon.
The report, Look Beyond the Obvious: An Employers View, looks at the general liability global market environment. Although noting the industry is generally healthy, the report does note that risk of litigation has increased outside the United States because of the threat of class action suits.
The adoption of class or group actions and punitive damage awards by countries outside the U.S.A. is a concern for clients and carriers alike, the report says. Carriers are monitoring closely the development of those legal systems worldwide that are broadening consumer rights and imposing stricter liability upon product and service providers.
The report concludes the health of the global liability market is strong. Excellent profits predicted for 2006 will drive increased competition for all business, including general liability risks, in 2007, the report says.
Globally rates have declined in 2006 and further reductions are expected in 2007. Liability capacity remains plentiful globally and is growing.
There are, however, a few industry anomalies, the report adds.
Larger pharmaceutical industry participants still suffer from lack of capacity and product coverage limitations, Aons report says. Some other industries are also experiencing difficulty in securing competitively priced primary coverage or specific coverage such as terrorism.