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Anti-terrorism legislation puts charity D&Os at risk

July 18, 2007 by Canadian Underwriter

Government anti-terrorism regulation targeting purportedly charitable financial transactions which may support terrorist activities subject Canadian charities to stringent regulatory requirements and potentially expose charities directors to personal liability, an Aon Canadian advisory report warns.Potential consequences of anti-terrorism act violations could…

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What’s New: In Brief (July 18, 2007)

July 18, 2007 by Canadian Underwriter

Zurich has created a mergers and acquisitions (M&A) unit designed to offer customized products and services to help companies manage M&A transaction-related risks. The unit is part of Zurichs Global Corporate business division and currently fully operational in the U.S.worldwide…

News Insurance

What’s New: In Brief (July 17, 2007)

July 17, 2007 by Canadian Underwriter

Kroll, a risk consulting company, is combining forces with Direct Marketing Centre Inc. (DMC) to provide Identity Theft Restoration services in Canada. Kroll announced that as part of the strategic alliance, DMC a third-party administrator and solution provider to credit…

News Insurance

What’s New: In Brief (July 17, 2007)

July 17, 2007 by Canadian Underwriter

Kroll has announced it is combining forces with Direct Marketing Centre Inc. (DMC) to provide Identity Theft Restoration services in Canada. Kroll (a risk consulting company) announced that as part of the strategic alliance, DMC (a third party administrator and…

News InsuranceMergers and Aqcuisitions

What’s New: In Brief (July 17, 2007)

July 17, 2007 by Canadian Underwriter

Transportation Property & Casualty Co., Inc. (TPCC) has been assigned a financial strength rating of A- (Excellent) by A.M. Best & Co.These ratings are the first to be assigned to a Canadian captive insurance company domiciled in Burnaby, British Columbia.…

News Insurance

What’s New: In Brief (July 16, 2007)

July 16, 2007 by Canadian Underwriter

Canada’s first online brokerage EasyInsure.ca launched in April, according to a release. Direct insurance has been sold online quite successfully over the last few years, but the benefits of a brokerage, including the ability to pull rates from several sources,…

News Insurance

What’s New: In Brief (July 16, 2007)

July 16, 2007 by Canadian Underwriter

As the soft market approaches its fourth year, director and officers, and general liability premiums are dropping in 2007 Q2, while commercial property premiums remain stable, according to The Risk and Insurance Management Society (RIMS) Benchmark Survey and analysis conducted…

News Insurance

Guy Carp forced to take case across the pond

July 13, 2007 by Canadian Underwriter

The UKs Court of Appeal handed down judgement that three former Guy Carpenter executives who defected to competitor Integro must be sued in the UK, where they live and work, not in New York, where Guy Carps parent company is…

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Willis to educate risk managers about corporate risks of kidnapping/extortion

July 13, 2007 by Canadian Underwriter

Willis Special Contingency Risks Limited (SCR) is hosting a global Web cast conference call on July 17, 2007, to educate risk managers, corporate risk officers and directors and officers about the risks of international kidnapping and extortion.Movie and television depictions…

News InsuranceMergers and Aqcuisitions

FSCO changes PAF guideline for whiplash injuries

July 12, 2007 by Canadian Underwriter

The Financial Services Commission of Ontario (FSCO) is releasing a revised Pre-approved Framework (PAF) Guideline for Grade I and II Whiplash Associated Disorders and accompanying Pre-approved Framework Extension Request and Discharge Report form (OCF-24/198).The new PAF Guideline is effective on…

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US insurers Q2 cat costs tied with 2nd lowest in 10 years

July 12, 2007 by Canadian Underwriter

U.S. property and casualty insurers are expected to pay homeowners and businesses and estimated $2.175 billion [approximately Cdn$2.28 billion] for Q2 property losses resulting from a total of six catastrophes in 25 states, reports the ISO. The ISOs Property Claims…

News InsuranceMergers and Aqcuisitions

Lloyd’s threatens to mandate use of electronic processing tools

July 11, 2007 by Canadian Underwriter

Lloyds current use of Electronic Claims File and the Accounting and Settlement Repository (A&S) fall short of the goals set by the Market Reform Group (MRG), prompting the markets chief executive to threaten mandating the use of the electronic processing…