Segment
Risk Management
Firms can use soft market to advantage, suggests Guy Carp
March 12, 2008 by Canadian UnderwriterBy following five core strategies, managing general agents (MGAs) and managing general underwriters (MGUs) can maximize opportunities and succeed in soft market conditions, says Guy Carpenter & Company LLC.The reinsurance broker’s paper, ‘Optimize in a Soft Market, Succeed in Any…
What’s New: In Brief (March 12, 2008)
March 12, 2008 by Canadian UnderwriterIsmail El-Maach has been appointed senior engineer with MEA Forensic Engineers & Scientist’s injury biomechanics group.El-Maach has more than 13 years of biomechanical engineering experience, with a special emphasis on testing biological materials and developing safety systems, an MEA release…
What’s New: In Brief (March 11, 2008)
March 11, 2008 by Canadian UnderwriterCommunity Savings Credit Union’s board of directors has rejected Western Financial Group’s proposal to acquire the credit union.The proposal included an offer by a subsidiary of Western Financial Group, Bank West, to acquire Community Savings for approximately Cdn$345 million in…
Cat trends on the rise; floods at the crest of the wave
March 11, 2008 by Canadian UnderwriterCatastrophe-related economic losses from natural and man-made events around the world exceeded US$70 billion in 2007 US$28 billion of which were insured losses marking a trend towards an increase in the number and cost of natural and man-made events, says…
Auditor satisfied with draft bill increasing insurance limits for nuclear facilities
March 10, 2008 by Canadian UnderwriterCanada’s auditor general is satisfied Natural Resources Canada has taken steps to update the insurance requirements for the country’s nuclear facilities.The Nuclear Liability Act, which came into force in 1976, currently limits the liability of a nuclear operator for any…
B.C. Appeal Court reduces loss of earnings award from Cdn$300,000 to Cdn$75,000
March 10, 2008 by Canadian UnderwriterThe responsibility for ensuring safety when a skier is seated onto a chair lift is split 50/50 between the ski resort (and its chair lift attendant) and the skier, the Court of Appeal for British Columbia has ruled in Kralik…
What’s New: In Brief (March 10, 2008)
March 10, 2008 by Canadian UnderwriterPPG Canada Inc. and Summit Software Solutions have announced a new preferred vendor partnership, giving the PPG CertifiedFirst network of collision repair centres access to the complete line of Summit products and services. “From our customers who are already using…
European windstorm Emma causes up to EUR1.3 billion in insured damages
March 7, 2008 by Canadian UnderwriterInitial estimates are placing insured damage caused by Windstorm Emma which tore through parts of central Europe on Mar. 1 at between EUR300 million (Cdn$455.24 million) and EUR1.3 billion (Cdn$1.973 billion). Windstorm Emma brought with it heavy rain and hurricane-force…
What’s New: In Brief (March 06, 2008)
March 6, 2008 by Canadian UnderwriterThe aerospace insurance market softened in 2007, responding to the high level of capacity and low level of losses in the aviation industry over the past five years, according to Aon’s Aerospace Insurance Market Review of 2007. “The average 6%…
World Federation of Insurance Intermediaries asked to examine placement of global commercial risks
March 6, 2008 by Canadian UnderwriterThe U.S. Council of Insurance Agents and Brokers has asked the World Federation of Insurance Intermediaries (WFII) to review trade barriers and regulations that might impede the placement of global commercial risks.WFII is composed of 100 agent/broker associations representing insurance…
What’s New: In Brief (March 05, 2008)
March 5, 2008 by Canadian UnderwriterRoyal & SunAlliance (R&SA) has continued its investment as a full partner of the Broker Identity Program for 2008, the Insurance Brokers Association of Canada (IBAC) announced in a release. “For many years, R&SA has sponsored IBAC’s broker education campaign…
What’s New: In Brief (March 05, 2008)
March 5, 2008 by Canadian UnderwriterAviva Canada Inc. has been awarded a three-year accreditation for its injury claims management programs from the Commission on Accreditation for Rehabilitation Facilities (CARF). Aviva is the first insurer in North America to receive this internationally recognized accreditation. CARF accreditation…