News

Registration is now open for RIMS 2013 Annual Conference & Exhibition, which will include an improved agenda, RIMS announced Tuesday.  RIMS ’13 is scheduled for April 21 to 24 in Los Angeles at the Los Angeles Convention Center. Risk management practitioners,…

A.M. Best’s Bermuda market is in a position to see a return on equity of slightly better than 10% for this year, the rating agency has noted in a new report. In it’s 2012 Special Report: Bermuda – Market Review,…

Munich Re has extended the range of solutions it offers for risks in renewable energy production with today’s announcement that it has become the first insurance group to offer serial loss cover for offshore wind energy units. Representatives for Munich…

A number of complaints over the use of personal financial information by insurance companies in Prince Edward Island – a practice that has resulted in some individuals being denied property or auto coverage insurance – has spurred the development of…

The Insurance Bureau of Canada says the Ontario NDP’s consumer affairs critic is cherry picking his facts on auto insurance premiums in the province, after the MPP presented research on the issue Monday. NDP consumer affairs critic and Bramalea-Gore-Malton MPP…

Software maker SAP AG announced Monday it is offering what it calls a “rapid deployment solution” for insurance companies who will need to meet the European Union’s Solvency II reporting standard for capital adequacy and risk management. The product “helps…

New York governor Andrew Cuomo has introduced new measures for faster processing of superstorm Sandy-related claims by insurers, in an effort to have consumers receive payments faster, following major destruction after the storm. The state’s Department of Financial Services (DFS)…

An association representing 12 auto manufacturers is promoting “driver assist” technologies, such as lane departure and blind spot warnings, with the launch of a YouTube channel “concurrent with” the Los Angeles Auto Show. “More than 90 percent of crashes involve…

Analytical research firm MSA Research is launching a new conference targeted toward brokers, MGAs and insurers involved in the commercial space in Canada. The first Canadian Commercial Insurance Summit (CCIS) will take place June 23 to 25, 2013 in Muskoka, Ont.…

Editor’s Note: An article that originally ran on Nov. 29 “ICBC cuts 203 more jobs, continues restructuing,” incorrectly stated that the 203 positions being eliminated were in addition to a previously announced 250 eliminated positions. The 203 are actually part…

Willis Group Holdings’ New York City-based North American unit announced Thursday it has agreed to acquire the assets of Montreal-based Avalon Actuarial Inc. The terms of the deal were not disclosed but Willis stated in a press release it expects…

A.M. Best has affirmed the ratings of Manitoba’s Grain Insurance Company, boosting their outlook from negative to stable. The company now holds a financial strength rating (FSR) of “A,” or excellent and an issuer credit rating (ICR) of “a.” “The…