Segment
Risk Management
Canada to host UN consultation session on sustainability principles for insurers
June 10, 2011 by Canadian UnderwriterCanada will host a United Nations-convened consultation session aimed at developing a set of sustainability principles for the insurance industry.Between June 12 and 13, 2011, The Co-operators will host at its Guelph headquarters the third in a series of seven…
Regulatory burden identified as top risk to insurance industry in global survey
June 9, 2011 by Canadian UnderwriterThe burden of regulation was identified as the biggest risk keeping the global insurance industry awake at night, according to a survey by the Centre for the Study of Financial Innovation and PricewaterhouseCoopers.Insurance Banana Skins 2011 identifies the risks facing…
Prime Minister says feds prepared to discuss a national flood mitigation strategy
June 8, 2011 by Canadian UnderwriterTouring flooded areas in the Quebec region of Montérégie, Prime Minister Stephen Harper announced the federal government is prepared to discuss a mitigation strategy that would apply to all provinces and territories to help enhance infrastructure to better withstand future…
Canpro Global Services and King-Reed & Associates LP amalgamate
June 7, 2011 by Canadian UnderwriterCanpro Global Services Inc. and King-Reed & Associates LP have amalgamated to create the largest full-service risk mitigation and investigation company in Canada.Canpro Global Services Inc. is headquartered in Vancouver and has 11 offices throughout Western Canada. With more than…
AXA Art not included in Intact’s acquisition of AXA Group’s Canadian operations
June 7, 2011 by Canadian UnderwriterThe AXA Art operation in Canada has not been sold to Intact Financial Corporation. AXA Art is and remains a wholly owned subsidiary of the AXA Group and was not part of the sale of AXA Group’s Canadian operations to…
Forms of political violence threaten business continuity as much as terrorism: Aon
June 7, 2011 by Canadian UnderwriterPolitical violence, strikes, riots, civil war and war threaten business continuity as much as terrorism, according to Aon Risk Solutions’ Terrorism Threat Map.For the first time in its 10-year history, Aon’s annual Terrorism Threat Map now also take these factors…
Marsh launches index-based insurance solution for earthquake, windstorm risks
June 7, 2011 by Canadian UnderwriterMarsh has launched an index-based insurance solution for earthquake and windstorm risks for its corporate clients with significant exposures in the United States and Europe.The instrument is intended for Marsh’s corporate clients that have significant wind and quake exposures, but…
Disaster Kleenup Canada announces several senior level appointments
June 6, 2011 by Canadian UnderwriterDisaster Kleenup Canada has made new appointments to its vice president of sales and marketing, marketing and communications director and regional and national sales director positions.The appointments include:•Tony Passarelli, vice president of sales and marketing. Most recently he served as…
PartnerRe estimates its U.S. tornado losses in April to be between $50 million and $70 million
June 6, 2011 by Canadian UnderwriterPartnerRe Ltd. (NYSE, Euronext: PRE) says it expects losses of approximately $50 million to $70 million related to the tornado outbreak that affected large areas of the United States during the last week of April 2011. Loss estimates are pre-tax,…
U.S. firm offers Web and agent portal services intended for small- and mid-sized companies
June 6, 2011 by Canadian UnderwriterInsurance Data Processing Inc. (IDP), a property and casualty management system company in the United States, has released two technology services – a Web site service and a new agent portal – tailored to help small and mid-sized insurance companies…
AIR estimates insured U.S. storm, tornado damage in May to range between $4 billion and $7 billion
June 6, 2011 by Canadian UnderwriterCatastrophe modeling firm AIR Worldwide estimates the outbreak of severe thunderstorms that struck the United States between May 20 and 27 will result in insured losses between $4 billion and $7 billion.AIR’s insured loss estimates reflect insured physical damage to…
Captive trust a viable alternative to letters of credit for collateral: Wells Fargo expert
June 3, 2011 by Canadian UnderwriterGiven the increasing cost of credit in today’s market, the cost of letters of credit (LOCs) has become prohibitive for captives relying on them for collateral, said Robert Quinn, a vice president at Wells Fargo.Quinn, who sells capital trusts, spoke…