News

Weather Services International (WSI) has downgraded its 2010 hurricane forecast slightly to account for a slow start to the early season in June and July, but nevertheless predicts an “extremely active” season in August through to October.In total, WSI is…

The U.S. government investigation of Goldman Sachs and the Deepwater Horizon oil spill may have sparked a surge in securities litigation in 2010 Q2, Advisen reports.In its quarterly report, Advisen noted the number of securities lawsuits filed in 2010 Q2…

CARSTAR Automotive Canada has announced a series of appointments to its corporate management team.Lisa Mercanti-Ladd has been promoted from senior director to the assistant vice-president of marketing and client services. Throughout her tenure at CARSTAR, she has led marketing and…

Bank-owned insurers have effectively doubled their market share in personal lines between 2000 and 2009, according to the MSA/Baron Outlook Report Q1-2010.Meanwhile, the broker channel has seen its market share in personal lines sink over the past decade from 66.6%…

The Ontario Bar Association (OBA) has elected insurance law specialists as its new president and second vice-president, effective August 15.Lee Akazaki, the OBA’s incoming president, is a lawyer at Gilbertson, Davis, Emerson in Toronto. He specializes in personal injury, property…

AIR Worldwide Inc. has released an updated U.S. hurricane model that now captures the possibility of a storm’s re-intensification after landfall.“As evidenced by Hurricane Ike in 2008, inland hurricane losses from some storms can be significant,” an AIR release says.…

The Canadian Securities Administrators (CSA) has published for comment a proposed plan to introduce securities regulatory oversight of credit rating organizations.“Many investors consider credit ratings as one of the factors in making investment decisions, and ratings continue to be referred…

Toyota Canada is rolling out demonstrations across Canada of its Prius Plug-in Hybrid (PHV), which can plug into a standard 110-volt electrical outlet.One such demonstration car was delivered for testing to Manitoba’s Ministry of Innovation Energy and Mines. Other cars…

Facility Association (FA) has undertaken a survey to help assess the impact of various current issues – product reform, constitutional challenges, changes in reserving and reporting practices, HST, etc. – on its risk-sharing pools (RSPS).“We expect the information to provide…

Cunningham Lindsey has launched a Marine Specialist Practices Group (SPG). The group has 66 marine experts in 21 countries providing a range of specialist services. These include: • cargo surveys; • pleasure craft loss adjusting and appraisal; • particular and…

Chartis is reportedly interested in introducing a LEED insurance product in Canada that would help protect companies’ reputations in a lawsuit if the company failed to meet LEED certification.The Leadership in Energy and Environmental Design (LEED) is a green building…

Risk management systems must take into account the effects of globalization if they are to help risk managers avoid increasingly inter-related risk exposures, according to Lord Levene, Lloyd’s chairman. “We cannot simply try to hide away from risks, which travel…