News

Michel Turcotte, senior director of risk management and insurance at Ivanhoe Cambridge, Inc. in Montreal., has been named the recipient of the 2012 Donald M. Stuart Award. Widely recognized as Canada’s highest honour within the risk management field, Turcotte was…

Property and Casualty Insurance Compensation Corporation (PACICC) is offering a three-part enterprise risk management (ERM) seminar to its member companies this fall. The seminars will be held at the Toronto head office of KPMG. Members can attend in person or…

Getting a handle on emerging risks that can hit an organization hard is aided by adopting a mindset of pessimism, Susan Meltzer, vice president of enterprise risk management (ERM) for Aviva North America, suggested to workshop attendees at Horizons: 2012…

Canada’s federal financial services regulator released its final set of guidelines related to legal requirements, qualifications and peer review for appointed actuaries. Guideline E-15, first issued in 2003, governs, among other things, the process of external peer review, which the…

A new report observes that property catastrophe reinsurers deserve their high credit quality rating because of their track record in claims payments, market disclosure and management processes. Aon Benfield’s Credit Risk of Property Catastrophe Reinsurers examines the credit quality of…

The Trepanier forest fire that destroyed four homes in the central Okanagan region of British Columbia has been 75% contained, the area’s Emergency Operations Centre said Sept. 11. “Cooler temperatures and low wind overnight have provided ideal conditions for fire…

Tropical storm Leslie made landfall in Newfoundland’s Burin Peninsula the morning of Sept. 11, with hurricane-force gusts and heavy rainfall causing some property damage and flooding in parts of the Atlantic provinces. Tropical storm watches are in effect for areas…

There is a positive side of risk, one that holds the promise of creating value for organizations and contributing to risk management becoming more entrenched in organizational culture and decision-making. That was among the views that Deborah Luthi, president of…

Catlin Canada is looking to make it a little easier for students entering the insurance/risk management field of study with its donation of $20,000 to the William H. McGannon Foundation. The official cheque was to be presented during an event…

The debt crisis in Europe, interest rate sensitivity and the shifting nature of catastrophe losses are among the top risks to the reinsurance industry’s profitability, according to risk and reinsurance specialist Guy Carpenter and Company LLC. In its mid-year market…

Reinsurer Munich Re expects largely stable rates for contracts up for renewal in January 2013, while Swiss Re and Hannover Re predict moderate price increases for the same timeframe. The three companies announced their outlooks during the reinsurance industry’s annual…

A 200-hectare wildfire in the central Okanagan area of British Columbia has forced about 1,550 people from their homes. Three homes in the District of Peachland and one abandoned home in the Central Okanagan West electoral area have been lost…