Segment
P&C Companies
IBC president and CEO announces retirement
July 19, 2007 by Canadian UnderwriterAfter serving the Canadian property and casualty insurance industry for 32 years, Stanley I. Griffin, president and CEO of the Insurance Bureau of Canada (IBC), has announced he will retire at the end of this year.Griffin joined the IBC in…
Manitoba Public Insurance reports solid Q1
July 19, 2007 by Canadian UnderwriterManitoba Public Insurance has reported a net income of Cdn$64.8 million for 2007 Q1, spurred by a growing vehicle fleet and solid investment income. Earned revenues increased by Cdn$10.5 million over 2006 Q1, due to an increase in number and…
Anti-terrorism legislation puts charity D&Os at risk
July 18, 2007 by Canadian UnderwriterGovernment anti-terrorism regulation targeting purportedly charitable financial transactions which may support terrorist activities subject Canadian charities to stringent regulatory requirements and potentially expose charities directors to personal liability, an Aon Canadian advisory report warns.Potential consequences of anti-terrorism act violations could…
What’s New: In Brief (July 18, 2007)
July 18, 2007 by Canadian UnderwriterZurich has created a mergers and acquisitions (M&A) unit designed to offer customized products and services to help companies manage M&A transaction-related risks. The unit is part of Zurichs Global Corporate business division and currently fully operational in the U.S.worldwide…
What’s New: In Brief (July 17, 2007)
July 17, 2007 by Canadian UnderwriterKroll, a risk consulting company, is combining forces with Direct Marketing Centre Inc. (DMC) to provide Identity Theft Restoration services in Canada. Kroll announced that as part of the strategic alliance, DMC a third-party administrator and solution provider to credit…
What’s New: In Brief (July 17, 2007)
July 17, 2007 by Canadian UnderwriterTransportation Property & Casualty Co., Inc. (TPCC) has been assigned a financial strength rating of A- (Excellent) by A.M. Best & Co.These ratings are the first to be assigned to a Canadian captive insurance company domiciled in Burnaby, British Columbia.…
What’s New: In Brief (July 16, 2007)
July 16, 2007 by Canadian UnderwriterCanada’s first online brokerage EasyInsure.ca launched in April, according to a release. Direct insurance has been sold online quite successfully over the last few years, but the benefits of a brokerage, including the ability to pull rates from several sources,…
What’s New: In Brief (July 16, 2007)
July 16, 2007 by Canadian UnderwriterAs the soft market approaches its fourth year, director and officers, and general liability premiums are dropping in 2007 Q2, while commercial property premiums remain stable, according to The Risk and Insurance Management Society (RIMS) Benchmark Survey and analysis conducted…
Guy Carp forced to take case across the pond
July 13, 2007 by Canadian UnderwriterThe UKs Court of Appeal handed down judgement that three former Guy Carpenter executives who defected to competitor Integro must be sued in the UK, where they live and work, not in New York, where Guy Carps parent company is…
Willis to educate risk managers about corporate risks of kidnapping/extortion
July 13, 2007 by Canadian UnderwriterWillis Special Contingency Risks Limited (SCR) is hosting a global Web cast conference call on July 17, 2007, to educate risk managers, corporate risk officers and directors and officers about the risks of international kidnapping and extortion.Movie and television depictions…
FSCO changes PAF guideline for whiplash injuries
July 12, 2007 by Canadian UnderwriterThe Financial Services Commission of Ontario (FSCO) is releasing a revised Pre-approved Framework (PAF) Guideline for Grade I and II Whiplash Associated Disorders and accompanying Pre-approved Framework Extension Request and Discharge Report form (OCF-24/198).The new PAF Guideline is effective on…
US insurers Q2 cat costs tied with 2nd lowest in 10 years
July 12, 2007 by Canadian UnderwriterU.S. property and casualty insurers are expected to pay homeowners and businesses and estimated $2.175 billion [approximately Cdn$2.28 billion] for Q2 property losses resulting from a total of six catastrophes in 25 states, reports the ISO. The ISOs Property Claims…