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What’s new: In brief (September 12, 2004)

September 12, 2004 by Canadian Underwriter

Fitch Ratings says even with the back-to-back landfall of hurricanes Charley and Frances, most insurers will be protected because of their spread of risk geographically and by line of business, as well as the presence of public-sponsored entities which will

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Anthony Clark continues U.S. expansion

September 9, 2004 by Canadian Underwriter

Calgary-based Anthony Clark International Insurance Brokers has added its third U.S. brokerage, and its first on the east coast. Anthony Clark’s U.S.-based Addison York Insurance Brokers Ltd. has purchased the fixed assets and customer accounts of Al Vinciguerra Ltd. in

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Rate relief creeping into PL lines despite claims growth

September 9, 2004 by Canadian Underwriter

Rate softening is beginning to creep into the professional liability market, despite continued pressure on claims, said speakers at Thursday’s “Errors & Omissions” seminar hosted by the Toronto Insurance Conference (TIC).The seminar looked at broker E&O, but expanded quickly into

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Lloyd’s granted injunction against Stuart

September 6, 2004 by Canadian Underwriter

Lloyd’s has been granted an injunction in Ontario Superior Court against Ian Stuart, who, the London market contends, has been holding himself out as a Lloyd’s representative without authorization.The court order prohibits Stuart from purporting to place business with Lloyd’s

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Bermuda market maintains profitability in second quarter

September 2, 2004 by Canadian Underwriter

The Bermuda market shows no signs of waning profitability, even as rates in several key lines begin to soften, according to results compiled by Benfield Group. In its quarterly analysis of the top 16 listed Bermuda companies, Benfield finds net

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What’s new: In brief (August 30, 2004)

August 30, 2004 by Canadian Underwriter

The Toronto Insurance Conference has set the line-up for its annual seminar, slated for Thursday, September 9 at the Toronto Marriott Eaton Centre. The program, which runs through the morning, focuses on “Errors & Omissions” for brokers and commercial clients.

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Terrorism insurance buys up in second quarter: Marsh

August 25, 2004 by Canadian Underwriter

More than 46% of U.S. businesses who purchased property insurance in the second quarter of 2004 also bought terrorism risk coverage, according to the latest survey from international broker Marsh Inc.Marsh has been tracking terrorism insurance purchases since the implementation

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Contingency fees must be fully disclosed: RIMS

August 24, 2004 by Canadian Underwriter

The organization representing commercial insurance buyers has not come out against broker contingent commissions, but is issuing strong words on the need for full disclosure of such arrangements. In its policy statement on compensation agreements, the Risk and Insurance Management

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Western Financial earnings up 104.4% in first-half 2004

August 11, 2004 by Canadian Underwriter

Alberta-based broker network and bank Western Financial Group (TSX: WES) saw its earnings rise 104.4% in the first half of 2004, up to $2.0 million from $957,000 in the first six months of 2003. Earnings per share were up to

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What’s new: In brief (August 10, 2004)

August 10, 2004 by Canadian Underwriter

In support of Mike Yang, a long-time insurance industry figure who is returning home following a serious illness, two fundraising events are planned. On Thursday, September 23 from 5-7 pm, Mike will be at the Windsor Arms Hotel at 18

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Hub earnings up 15% on U.S. and Canadian success

August 2, 2004 by Canadian Underwriter

Chicago-based broker Hub International (TSX: HBG) saw improvement in its results coming from a variety of sources for the second quarter ending June 30, 2004 growth was experienced both organically and through acquisition, while both Canadian and U.S. operations performed

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Compensation culture distracting business from core operations: U.K. survey

July 28, 2004 by Canadian Underwriter

Businesses in the U.K. say the growing compensation culture there is taking focus and resources away from core business and revenue generation, according to a new survey by international broker Aon.A full 75% of businesses surveyed say rising compensation trends