News

The European Union could delay new capital rules for insurers, known as Solvency II, Reuters has reported. According to one Reuters’ source, Michel Barnier, the EU commissioner in charge of regulation, has suggested delaying the new rules by one year…

Michael J. Buzzeo has been appointed vice president of ClaimsPro Inc.’s special risk division (SRD), the company announced Sept. 20. An executive general adjuster with ClaimsPro, Buzzeo has a strong network nationally and internationally with brokers, underwriters, and clients, the…

EGI Financial Holdings Inc. has appointed Alvin Sharma as the company’s new chief financial officer, effective Sept. 24. Sharma previously has held roles at RBC Capital Markets, American Life Insurance Co. and Sun Life Financial. He has expertise in investor…

The Financial Services Commission of Ontario issued three insurance scam warnings on Sept. 19. FSCO has warned that Trans Direct Insurance Co. is not licensed to do insurance business in Ontario. It also warned that two individuals, Jermaine Nathaniel Jones…

Guy Carpenter and Company and the University of Manitoba have partnered to create a new research chair at the school’s Warren Centre of Actuarial Studies, part of the Asper School of Business. The Guy Carpenter Chair in Agricultural Risk Management…

The wildfire season in the western United States this year could potentially be one of the worst on record for the region, despite it not yet being over, one research group says. The new Climate Central report, The Age of…

Auto insurance rates in Ontario remained flat in the second quarter of 2012, according to figures from the Financial Services Commission of Ontario (FSCO). Rate filings approved between April 1 and June 30 remained relatively flat, averaging a 0.06% increase,…

B.C. residents have one more month to prepare for The Great British Columbia ShakeOut, a province-wide earthquake preparedness drill. Individuals, families, schools, churches and other groups will “drop, cover and hold on” at 10:18am on Oct. 18 for the drill,…

A majority of teens included in a recent U.S. survey say their parents make risky choices while behind the wheel, though the same teens often mirror that behaviour. In a new survey from Liberty Mutual Insurance and Students Against Destructive…

The United States federal government has sold the majority of its common stock in American International Group Inc. (AIG), receiving proceeds of $20.7 billion.  The U.S. Treasury and Federal Reserve Bank of New York provided a $182 billion bailout to…

More than half  (53% ) of chief financial officers said their companies’ investment risk profiles were at or near their stated risk tolerance limits, according to survey results released this month by Towers Watson. The report, which looked at CFOs…

Royal Premium Budget Canada Inc. announced its entry into Canada on Sept. 17, providing insurance premium financing in the Canadian marketplace. The company will offer customized financing through its affiliate, Burns & Wilcox Canada, a wholesale broker focused on specialty…