What’s New: In Brief (March 20, 2008)

Ninety-eight vehicles from a Burnaby-based research and training facility of the Insurance Corporation of British Columbia (ICBC) were sold without proper designation and disclosure to buyers, an internal investigation has confirmed.
ICBC’s own investigation revealed the public insurer lacked clear and specific policies and procedures to govern the designation, repair and sale of vehicles from its research and training facility between 1998 and 2008.
The investigation was launched in February 2008 after internal concerns that some vehicles repaired at the facility were sold with a repair history that was incorrectly designated and disclosed to buyers, the ICBC reports in a release.

Patrick G. Ryan, founder and executive chairman of Aon Corporation, has announced his intention to retire effective Aug. 1, 2008.
Ryan, 70, started a small insurance agency in 1964. After a few name changes, expansions, acquisitions and mergers, the small company evolved into the Aon Corporation in 1987.
“The transition to a new management team under the sound leadership of Greg Case is complete,” Ryan said in a release. “After 41 years as CEO and three years as executive chairman, it is time to retire from active involvement. I will of course continue to be a dedicated and interested shareholder.”