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Aon Re Rendezvous: Industry likely to maintain discipline

October 19, 2004 by Canadian Underwriter

The insurance industry may defy predictions that it will sink rapidly back into price competition given the number of lingering issues still hampering the industry.Speaking at the 3rd annual Aon Re Rendezvous, A.M. Best vice president John Andre says the

News Insurance

Aon Re Rendezvous: “Status quo” for reinsurance renewals

October 19, 2004 by Canadian Underwriter

It should be a case of “status quo” for reinsurance renewals, despite reports of market softening and the impact of hurricanes hitting the U.S. this fall.Speaking at the 3rd annual Aon Re Rendezvous in Mississauga Tuesday, Aon Re Americas vice

News Insurance

Commission investigation fueled by broker consolidation: Fitch

October 19, 2004 by Canadian Underwriter

In its analysis of the recent civil charges filed against Marsh by New York Attorney General Eliot Spitzer, rating agency Fitch says the probe into broker commission practices may be an effect of broker consolidation.In a statement, the rater notes,

News Insurance

ACE executive latest to plead guilty in commissions probe

October 18, 2004 by Canadian Underwriter

An executive of insurer ACE has pled guilty to criminal misdemeanor charges related to the investigation of broker commissions being conducted by New York Attorney General Eliot Spitzer. The news came Friday, a day after Sptizer filed civil charges against

News Insurance

Raters react swiftly to NY commission probe charges

October 17, 2004 by Canadian Underwriter

Rating agencies are reacting to news that New York Attorney General Eliot Spitzer has filed civil charges against broker Marsh, and exacted guilty pleas from two AIG executives relative to industry placement practices.The news came last Thursday, with Spitzer accusing

News Insurance

Marsh, 2 AIG execs fingered by commissions investigation

October 14, 2004 by Canadian Underwriter

New York Attorney General Elito Spitzer Thursday announced the launch of a civil suit against brokerage Marsh over commission practices. The suit alleges the brokerage “steered unsuspecting clients to insurers with whom it had lucrative payoff agreements, and that the

News Insurance

RIMS Canada Conference: Risk managers challenge service standards

October 5, 2004 by Canadian Underwriter

Among the many impacts the insurance industry experienced as a result of the 9/11 disaster was a recognition of the abysmal state of service taking place in commercial insurance ranks. So said a panel of speakers representing all segments of

News Insurance

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

September 30, 2004 by Canadian Underwriter

Aon Corp. is seeking a new CEO with news of the departure of CEO Patrick Ryan. While Ryan will remain as CEO until a successor is found, he also plans to maintain his role as chair of the board even

News Insurance

What’s new: In brief (September 28, 2004)

September 28, 2004 by Canadian Underwriter

Former Insurance Brokers Association of Canada (IBAC) president Brian Gilbert was the recipient of the “Jean-Charles d’Auteuil Memorial Award of Merit” at the association’s recent agm in Regina. IBAC Chair Ken Orr presented the honor to Gilbert in recognition of

News InsuranceMergers and Aqcuisitions

Alberta broker speaks out against auto reform

September 27, 2004 by Canadian Underwriter

Calgary-based Canada Brokerlink Inc. has set up a website to speak out about the new Alberta auto insurance system. The site, www.albertaautoinsurance.ca, is a response to what Canada Brokerlink president Jon Ouellete says is an “extremely political and not very

News Insurance

IBAC ready to support “next generation” of brokers

September 26, 2004 by Canadian Underwriter

The Insurance Brokers Association of Canada (IBAC) is preparing to support the “next generation” of brokers through technology, education and marketing initiatives, says new president Keith Wilson.Wilson took over the captain’s seat to lead “the voyages of the brokership IBAC”

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Buying of stand-alone “side A” D&O cover on the rise: Willis

September 23, 2004 by Canadian Underwriter

Executives are increasingly looking to protect their personal assets through the purchase of stand-alone “side A” directors’ and officers’ (D&O) cover, according to a new study by international broker Willis.The coverage, designed to protect directors and officers when the company