What’s New: In Brief (September 21, 2009)

The Economical Insurance Group (TEIG) has become a development partner of the RMS insurance-to-value data validation service.
The company has committed Cdn$150,000 towards the research and development of the ITV utility.
In addition, the company will work closely with RMS during the developmental phases of the project, TEIG notes in a release.
“We believe the RMS solution will provide brokers with a practical, common-sense approach that will dramatically enhance accuracy in regards to insuring to value,” Noel Walpole, president and CEO of TEIG, said in the release. “Clearly, no one in Canada has as much data on regional construction features and the accurate cost of claim amounts of total loss reconstruction than RMS.”
TEIG is the first insurance company partner to come forward to support RMS in the development of the new project, the release notes.

Willis Group Holdings Limited is moving to Ireland, pending a vote from the shareholders in three to four months’ time.
The broker’s board of directors approved changing the company’s place of incorporation from Bermuda to Ireland.
The re-domestication will also be subject to approval of the Supreme Court of Bermuda, as well as receipt of customary consents, approvals and waivers.
If the re-domestication is approved by Willis shareholders and the Supreme Court of Bermuda, it is expected a new Irish public limited company, Willis Group Holdings plc, would replace Willis Group Holdings Limited as the ultimate public holding company of the Willis Group, the company reports in a release.