News

The Insurance Bureau of Canada (IBC) has praised P.E.I.’s proposal for implementing graduated licensing for new drivers, according to the CBC.“I think the government is to be commended for taking this step,” Bill Adams, the manager of government relations for…

As the 2006 Atlantic hurricane season comes to a close on Nov. 30, NOAA scientists announced that seasonal activity was lower than expected due to the rapid development of El Nio.The 2006 Atlantic hurricane season produced near-normal activity with a…

Marsh has announced it is opening an office in Halifax, Nova Scotia, creating up to 150 new jobs.The risk and insurance company is establishing a technical centre of excellence to provide high-level financial administrative support for its captive solutions business.Nova…

An earthquake measuring 4.1 on the Richter scale sent tremors through the Sudbury region in northern Ontario, but failed to cause any damage.The epicentre of the quake was about five kilometres from the town of Lively, west of Sudbury, the…

Insurers are responsible for paying out flood claims filed as a result of Hurricane Katrina, a Federal Court Judge in New Orleans has ruled.Justice Stanwood R. Duval, Jr. overturned an initial court ruling that insurers are exempt from flood claims…

Ship owners accustomed to double-digit increases in their protection and indemnity premiums over the past five years may be disappointed if they are expecting an improvement in their 2007 renewal terms, a Lloyd’s broker says.HSBC Insurance Brokers, a P&I specialist,…

The Bank Act review continues to go the brokers’ way.Finance Minister Jim Flaherty recently introduced legislative proposals to Parliament that appear to close the issue of banks retailing insurance for yet another five years.IBAC praised the government for not giving…

Even though the reinsurance industry suffered major losses as a result of natural disasters in 2005, it succeeded in posting profits nevertheless, according to a new report published by the International Association of Insurance Supervisors (IAIS). “The reinsurance sector has…

The high price of oil in recent years has led to rising investment in the energy sector, providing opportunities for risk underwriting, according to a Swiss Re advisory panel.“Those insurers and reinsurers with specialist skills across many disciplines, as well…

Integro (Canada) Ltd. has appointed Brian Cameron as principal and executive broker for the Toronto office. Cameron joins Integro from Marsh Canada, where he served as a senior vice president. He has 35 years of experience as a property and…

The Risk and Insurance Management Society, Inc. (RIMS) has launched a new Risk Maturity Model for Enterprise Risk Management (ERM), an online resource that provides guidelines and best practices for developing and maintaining a comprehensive risk management program. The Risk…

The TD Meloche Monnex Group’s direct marketing campaigns scooped up more than 10 awards at three events honouring best creative and outstanding results. The direct marketing team’s efforts were first recognized at the ECHO Awards, held in San Francisco, where…