Canadian Underwriter

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News Insurance

Risk management for small, non-profit operations: task force

November 23, 2005 by Canadian Underwriter

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

News Insurance

CoVirt adds 20 insurance agency distributors to team

November 22, 2005 by Canadian Underwriter

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

News Insurance

Lloyd’s issues “warning” about Marine Risks Ltd.

November 18, 2005 by Canadian Underwriter

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

News Insurance

Insurance availability report to be released Nov. 23

November 18, 2005 by Canadian Underwriter

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

News Insurance

Aon sells Swett & Crawford (November 17, 2005)

November 17, 2005 by Canadian Underwriter

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,

News InsuranceMergers and Aqcuisitions

Canadian regulators hint at “harmonizing” disclosure practices (November 16, 2005)

November 16, 2005 by Canadian Underwriter

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

News Insurance

Improving data quality key to risk management: AIM study

November 11, 2005 by Canadian Underwriter

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

News InsuranceMergers and Aqcuisitions

WFG reports gains, despite “challenging” auto environment

November 10, 2005 by Canadian Underwriter

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

News InsuranceMergers and Aqcuisitions

ING Canada reports increased third-quarter income (November 10, 2005)

November 10, 2005 by Canadian Underwriter

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

News Insurance

Investigations changing insurance buyers-brokers’ relationship: study

November 4, 2005 by Canadian Underwriter

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

News Insurance

Willis reports 3Q net income of $49 million

November 3, 2005 by Canadian Underwriter

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

News Insurance

Marsh’s third-quarter net income triples

November 1, 2005 by Canadian Underwriter

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