News

Over the next 15 years, risk managers may be looking more towards credit financing as a means to backstop major catastrophes, rather than relying on more traditional forms of insurance or reinsurance, a panelist told participants at the 2006 RIMS…

Kim Hunton of Ottawa is the 2006 recipient of RIMS Canada’s Donald M. Stuart Award, established in 1979 to recognize outstanding contributions to the field of risk and insurance management in Canada.Hunton received the award at a special awards presentation…

Companies attempting to optimize their reinsurance programs are turning to reinsurance modeling more and more, A.M. Best reports.The ratings agency notes Raju Bohra, a senior vice president at Willis Re Inc., made the observation at the 111th National Association of…

Desjardins Group, an integrated financial group in Canada that includes life and general insurance services, has renewed its service agreement with Bell Canada.The new agreement, valued at approximately CD$670 million, will go into effect Jan. 1, 2007. It states Bell…

New Brunswick’s Liberal Party, led by Premier Shawn Graham, has been elected to government, raising the question of what — if anything — will happen next regarding the introduction of public auto insurance in the province.Graham’s party came to power…

Once again the bar measuring the success of the annual RIMS Canada Conference has been raised with a record registration number of 699, secretary of the RIMS Canada Council Bruce Tainsh told the audience at the 2006 RIMS Canada Conference…

A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of The Toa Reinsurance Company, Ltd.The ratings agency says Tao’s ratings, which both have a negative outlook, reflect the reinsurers “strengthened…

WICC (Women In Insurance Cancer Crusade) Ontario Chapter is hosting its 9th Annual “Breakfast for Breast Cancer” on Nov. 1, 2006.The breakfast will be held at the Arcadian Court, located on 401 Bay Street in Toronto.The guest speaker will be…

Risk managers must focus more often on presenting to company management the opportunities and rewards of taking risks if they want the risk management profession to thrive in the future, panelists told people attending the RIMS Canada Conference Calgary Summit…

AFN Insurance Brokers Inc. (AFN) has partnered with CINUP, a division of the Rice Financial Group Inc. (a subsidiary of Jovian Capital Corporation (JVN:TSX-V)) to offer a convenient one-stop insurance solution to serve the distinct needs of Canada’s First Nations…

A recent boardroom-spying incident at Hewlett-Packard Co. is putting a spotlight on “pretexting,” the latest scandalous corporate behavior to put providers of directors and officers (D&O) insurance on alert, according to an article published by A.M. Best.According to the Sept.…

Marsh & McLennan Companies, Inc. (MMC) is planning to save about US$350 million by 2008, in part through the reduction or attrition of 750 staff positions.“Beginning a year ago, we initiated an effort to rationalize MMC’s IT infrastructure, institutionalize firm-wide…