Segment
P&C Companies
AIR updates U.S. hurricane model to better estimate business interruption
June 5, 2007 by Canadian UnderwriterAIR Worldwide has updated its United States hurricane model to include an enhanced methodology for estimating business interruption (BI) losses.In the aftermath of the 2004 and 2005 hurricane seasons, which devastated wide swaths of the Gulf Coast and put countless…
‘Greening’ of supply chain poses challenges
June 5, 2007 by Canadian UnderwriterCanadian executives concerned with supply chain management face a number of risks including environmental regulations and pressures, according to PricewaterhouseCoopers (PwC) LLP in Canada.Lino Casalino, partner, Canadian supply chain and logistics leader with PwC, points to several key trends influencing…
Ontario court examines “crystal ball” of future loss of income
June 5, 2007 by Canadian UnderwriterA 62-year-old orthopedic surgeon in Windsor, Ontario has been awarded Cdn$844,450 in damages including Cdn$714,000 based on a presumed future loss of income between the ages of 65 and 70 for injuries he sustained after being thrown from his bicycle…
What’s New: In Brief (June 05, 2007)
June 5, 2007 by Canadian UnderwriterHub International Limited (TSX: HBG) announced that its shareholders approved the proposed plan for Apax Partners and Morgan Stanley Principle Investments to acquire all of Hubs common shares.The plan of arrangement was approved by 92.7% of the votes cast by…
Ontario Superior Court reviews law for summarily dismissing a claim
June 4, 2007 by Canadian UnderwriterAn Ontario Superior Court of Justice case, Oliveira v. Mullings, recently considered the standard for summarily dismissing a claim made against an auto insurer.The claim was based on a September 2003 motor vehicle collision, in which one of the defendants,…
What’s New: In Brief (June 04, 2007)
June 4, 2007 by Canadian UnderwriterMarkel International has launched an insurance product to cover complementay and alternative medicine malpractice.The rise in popularity of no-win no-fee arrangements has increased the number of claims against alternative and complimentary practitioners, which has driven up the demand for malpractice…
Human capital risk most significant threat, study finds
June 4, 2007 by Canadian UnderwriterInternational risk managers see human capital risk as being the most significant threat facing their global business operations, according to a survey conducted by the Economist Intelligence Unit and sponsored by the ACE Group of Companies. The surveys findings show…
Pembridge moves into Quebec
June 4, 2007 by Canadian UnderwriterPembridge Insurance Company has moved into Quebec, after the companys official launch in the province today. The launch of Pembridge in Quebec is a hallmark moment for our company, and it is a reflection of our commitment to consumers and…
Property market conditions rapidly changing
June 1, 2007 by Canadian UnderwriterThe terms and conditions for both cat risks and non-cat risks in the global property insurance market are changing more rapidly than many would have anticipated a year ago, says a recent Willis Group Holdings Ltd.s property alert.In Willis Property…
Caribbean Catastrophe Risk Insurance Facility now operational
June 1, 2007 by Canadian UnderwriterThe Caribbean Catastrophe Risk Insurance Facility (CCRIF) funded by participating countries, donors and the World Bank is now operational, starting with a claims-paying capacity of US$110 million on the international reinsurance and capital markets.. Thanks to the support of the…
Hannover Re completes sale of Praetorian Financial Group
June 1, 2007 by Canadian UnderwriterHannover Re has completed the sale of its U.S. subsidiary, Praetorian Financial Group, Inc., New York, to the Australian QBE Insurance Group Ltd., Sydney.The deal had been agreed upon in December 2006 and was closed, effective May 31, 2007, upon…
IBC welcomes more competition in B.C. auto insurance market
June 1, 2007 by Canadian UnderwriterThe Insurance Bureau of Canada (IBC) has welcomed new legislation in B.C. that the IBC says will provide more competition and choice in the provinces auto insurance market.Bill 93, adopted in 2003, aims to clearly separate basic insurance from optional…