Making risk management strategies available to small businesses and volunteer-based operations in Atlantic Canada should help improve the availability and affordability of insurance in the area, a task force has recommended.Established in February 2005, the Atlantic Task Force on Insurance…
Total integrated solution advisor and client manager for brokerages CoVirt Inc. (Canada) recently initiated the production of 20 independently owned insurance agency Equinox Marketing Centers that work through Equinox to sell products for insurance company partners. Tim Fitzpatrick, President of…
Lloyd’s Underwriters in Canada has issued a press release “alerting brokers and policyholders that neither Marine Risks Limited of Toronto and Miami nor its representative Iain Duncan are approved coverholders or registered open market correspondents and that they have no…
The Atlantic Task Force on Insurance Availability and Affordability has announced it will release its final report Nov. 23 at a news conference in Halifax.Established early this year, the task force has a mandate to develop recommendations to increase insurance…
Aon Corporation (NYSE: AOC) has sold its U.S.-based wholesale broking operation, Swett & Crawford, to an investor group including Hicks, Muse, Tate & Furst Inc. and Banc of America Capital Investors.Terms of the sale were not disclosed.In a press release,…
Insurance industry association codes that outline best practices for disclosing income and potential conflicts of interest may not go far enough, as suggested in a November 2005 report by the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance…
Improving data quality is regarded as a key issue for risk management and regulatory requirements including Basel II, the Markets in Financial Instruments Directive (MiFID), and Sarbanes-Oxley are driving investments in IT, according to a 2005 AIM Global Data and…
Western Financial Group today announced its net income increased 67.5% — to $3.6 million during the first nine months ending Sept. 30, 2005.The company’s business units include WFG Agency Network, the fourth largest property and casualty insurance broker in Canada…
Buoyed by strong underwriting results and solid investment income, ING Canada Inc. (TSX: IIC.LV) is reporting a net income of $202.8 million for the quarter ended September 30, 2005.That’s a 24% increase over the $163.6 million the company reported during…
Commercial insurance buyers are changing brokers, and company risk managers are more actively participating in the placement process and verifying broker information in the wake of regulatory investigations facing the insurance industry, an Advisen Ltd. study has found. In a…
Willis Group Holdings Limited (NYSE: WSH) recently reported a decline in net profits for the 3Q of 2005, in comparison to results announced in the third quarter of 2004.The Company ‘s net income for the 3Q in 2005 was $49…
Marsh & McLennan Companies, Inc. (MMC) reported its net income in the third quarter tripled from $21 million to $65 million.“Marsh’s parent company, MMC, continued in the quarter to make progress and take the steps which will make it a…