News

Risk managers are accustomed to taking steps to protect their businesses from fires and floods, but are beginning to consider other, less tangible risks, A.M. Best reportsIn addition to traditional risks, risk managers are focusing on their companys economic, social…

Laval, Quebec police have broken up an alleged auto theft ring that may prove to be the biggest ever uncovered in Canada.Police estimate there are more than 700 fully assembled vehicles, plus 200 with parts removed on the 1,000-square foot…

Industrial Alliance Insurance and Financial Services Inc. has reported an increase in net income of 20% for 2007 Q1, rising above its 2006 Q1 profit of Cdn$57.9 million.The company notes the increase is mainly attributed to an increase in growth…

Those who travel globally will be better covered thanks to a new comprehensive risk management package introduced by XN Financial. The new program can be customized to meet the needs of the traveller or travelers and is not limited to…

Kingsway Financial Services Inc. (TSE:KFS, NYSE:KFS) has reported a 2007 Q1 profit of US$19.6 million, compared to US$28.9 million in 2006 Q1.The company’s combined ratio was 105% in 2007 Q1, compared to 96.2% in 2006 Q1.Changes in estimated unpaid claims…

Crawford & Company (NYSE: CRDA; CRDB), an independent provider of claims management solutions to insurance companies and self-insured entities, announced a 2007 Q1 profit of US$3.3 million compared to net income of US$5.8 million for the 2006 first quarter. The…

Janice Ochenkowski will be the new president of The Risk and Insurance Management Society Inc., beginning Sept. 1, 2007.RIMS made the announcement at the opening session of its annual conference exhibition, currently being held in New Orleans, L.A.Ochenkowski is the…

Commercial insurance pricing trends in 2007 Q1 seem to be in line with 2006 Q1, according to the RIMS Benchmark Survey in 2007.Directors and Officers (D&O) and workers compensation are both decreasing, proving to remain highly competitive, the survey notes.…

Hub International Limited (NYSE: HBG) (TSX: HBG) reported strong growth in revenue and profits for 2007 Q1 despite an environment of falling rates.Overall, Hubs 2007 Q1 revenue of US$171.8 million represented a US$37.7 million (or 28%) increase over its 2006…

Theres a growing disconnect between risk and mitigation, and bold action must be taken to address it, a Swiss Re executive member told a panel discussion at RIMS 2007 in New Orleans.Agostino Galvagni, a member of Swiss Res executive board…

Insurers have improved their communications with the public and forged better relationships with consumers and governments, according to the Progress Report on Commercial Insurance in Atlantic Canada.In general, the insurance marketplace has improved over the past 16 months, the report…

The Cooperators General Insurance Company faced some financial challenges early this year, reporting a profit of Cdn$8.2 million in 2007 Q1 compared to a 2006 Q1 profit of Cdn$31.9 million.The first quarter of 2007 posed significant challenges, Kathy Bardswick, president…