News

Despite ultimately unsubstantiated rumors of a blockbuster merger between the United States’ fourth-largest insurer, Zurich Financial Services, and the nation’s fifth-largest P&C insurer, St. Paul Travelers Corp, M&A activity in the U.S. is not expected to reach the frenzied dimensions…

Insurance Bureau of Canada (IBC)’s ‘Be Smart. Be Safe.’ campaign is urging parents to make sure their children wear an approved helmet anytime they are participating in wheeled activities such as cycling, skateboarding, in-line skating or riding a scooter.“Every year,…

First Canadian Title, a provider of title insurance, recently enabled the multi-jurisdictional acquisition of HBC, which involved the purchase of all HBC shares in January by South Carolina businessman Jerry Zucker in a deal worth more than $1 billion.“The historical…

St. Paul Travelers Cos. is removing the “St. Paul” out of its Company name as part of a multimillion-dollar advertising and marketing campaign that will streamline its personal and commercial insurance products under one brand.In one of its first steps…

If you think stealing a car is a small-time crime motivated by the need for thrill-seeking or a quick buck, it’s time for a reality check, according to the Insurance Bureau of Canada (IBC).“Today, auto theft is big business,” the…

Tropical Storm Risk (TSR) anticipates Atlantic basin and U.S. landfall hurricane activity will be 40% above the long-term (1950-2005) norm in 2006.The TSR prediction includes: A 74% probability of an above-normal Atlantic hurricane season, a 22% probability of a near-normal…

Standard & Poor’s Ratings Services is enhancing its process for evaluating the terrorism exposure of interactively rated insurers and reinsurers. The updated process, S &P’s says, is partly a response to the increased insurance retentions under the two-year extension of…

KRG Children’s Charitable Foundation has offered Muskoka-based CNIB Lake Joseph Centre (Lake Jo), which is a camp for visually impaired children and their families, a cornerstone gift of CD$500,000 toward their “Restoring the Spirit” campaign. The capital campaign aims to…

In response to increasing frequency and severity of natural catastrophes, Swiss Reinsurance Co. recently placed a natural catastrophe bond program, which will provide the Company with US$950 million of protection for North Atlantic hurricane, European windstorm, Californian earthquake and Japanese…

Fitch Ratings has released its proposed guidelines for assessing insurance companies’ internal capital models.“Fitch Ratings welcomes the use of in-house capital models developed by insurers as an important part of the enterprise risk management of these organizations,” the agency says…

Risk Management Solutions (RMS), a provider of products and services for the management of natural hazard risk, has updated its U.S. and Canada earthquake models to reflect phenomena such as demand surge and claims adjustment and inflation. The earthquake model…

Arch Capital Group Ltd. (NASDAQ: ACGL) recently promoted Mark Lyons to the position of president and chief operating officer of Arch Insurance Group (U.S.), effective immediately. In his new role, Lyons will assume responsibility for each of the underwriting units…