What’s New: In Brief (October 29, 2007)

Christopher J. Ridge has been hired as managing director of XN Alternative Risk, a newly formed risk management consulting and reinsurance brokerage operating division of XN Financial.
The brokerage will be operating exclusively in the alternative risk transfer (ART) marketplace, according to an XN Financial Services Inc. release.
Ridge will provide independent expert advice and consultation in the design, formation and implementation of ART programs, with an emphasis on providing clients with innovative risk financing solutions that protect assets and satisfy unique personal and business objectives, the release notes.
Prior to joining XN Financial, Ridge was the managing director of captive management for a Fortune 500 company, overseeing their U.S. captive management operations.

Sickness, death, travel advisories and airline schedule changes are among the top reasons why Canadians cancel their trips, according to Travel Insurance Coordinators, Ltd. The company received more than 4,500 claims for trip cancellation insurance last year.
TICs trip cancellation and interruption insurance covers a number of circumstances that might prevent someone from going on a trip, including sickness, hospitalization, job transfer or a health risk issued by the Canadian Department of Foreign Affairs. However, the insurance does not cover everything.
TIC has recently lowered its rates for trip cancellation and interruption insurance, according to the release.