News

Aon Re Global Fac has launched a reinsurance private clients suite model consisting of facultative insurance professionals in 15 different locations around the world.This approach to global cedants is a component of the Aon Re Global’s Integrated Capital Solutions and…

Slightly more people would search for identity theft solutions from an insurance company than they would from either banks or credit card companies, according to a survey by the National Association of Insurance Commissioners (NAIC).The NAIC’s national survey polled a…

More and more banking institutions are appointing chief risk officers (CROs) to the senior level, reports Lloyd’s of London. “The post-Enron era brought heightened focus on the role and responsibility of corporate boards and their members,” a Lloyd’s report says.…

The time to play up the sale of fire insurance in B.C. is during the winter holidays, based on statistics offered by BCAA Insurance.According to Fire Prevention Canada, December generates 20 times the average monthly number of candle-related incidents. “In…

Willis Group Holdings Limited is strengthening its presence in the Canadian energy sector, by appointing Cees Van der Slikke to executive vice president of the company’s energy business in Canada. Van der Slikke will also serve as managing partner of…

The United Kingdo’s financial services regulator, the Financial Services Authority (FSA), says it wants to take more time to consider “possible inefficiencies in the commercial general insurance market” before making a decision on whether to mandate commission disclosure. Under the…

Colorado State University (CSU)’s Tropical Meteorology Project is calling for somewhat above-average Atlantic basin hurricane activity in 2008.A new report provides the team’s first extended-range forecast for the 2008 hurricane season. It anticipates 13 named storms forming in the Atlantic…

Guy Carpenter has developed a Subprime E&O Litigation Index, which measures the combination of factors influencing the country’s E&O litigation climate in the wake of the market crisis related to U.S. subprime mortgage-backed securities. Factors anticipated to lead to higher…

The U.S. dollar’s weakness and the softening of the reinsurance market significantly affected the financial results of the first half of 2007, Benfield Group Limited says. Benfield said its earlier expectation that reported trading profit for the full year would…

Alberta’s Superintendent of Insurance has issued penalties of Cdn$114,000 against ING Insurance Company of Canada and Cdn$94,000 against Unifund Assurance Company for contravening the Insurance Act.“Following an investigation, the superintendent determined that both insurance companies had cancelled and/or refused to…

Chubb Insurance Company of Canada has taken steps to improve its handling of each of the 125,000 telephone calls it receives each year, by migrating to an IP telephony platform.Internet telephony is the use of the Internet rather than the…

Seven people were arrested this week on charges related to a theft ring in which more than 500 vehicles were stolen, crushed and sold for scrap, according to CanWest News Service. Acting on a tip from the Insurance Bureau of…