Segment
Risk Management
Arch Insurance Group creates a new energy division
January 4, 2008 by Canadian UnderwriterArch Insurance Group, a member of Arch Capital Group Ltd., has formed a new energy division Arch Worldwide Energy that harnesses all of the group’s property and casualty energy-related capabilities into one dedicated unit.The new division combines Arch’s expertise in…
What’s New: In Brief (January 04, 2008)
January 4, 2008 by Canadian UnderwriterWestern Financial Group has acquired Early Insurance in Thompson, Manitoba, and Southern Insurance Management in Lethbridge, Alberta.Southern Insurance Management has been operating as a family-run business in Lethbridge for more than 50 years, with services and products in both commercial…
Quebec travellers cash in on risk management offer
January 3, 2008 by Canadian UnderwriterThousands of Quebecers will be travelling on the dime of an online travel risk management service, thanks to more than five inches of snow that fell at Pierre Elliot Trudeau International Airport in Montreal. itravel2000’s Let it Snow promotion offered…
What’s New: In Brief (January 02, 2008)
January 2, 2008 by Canadian UnderwriterKingsway Financial Services has entered into a 365-day, Cdn$70-million credit facility agreement with a syndicate of banks. The Bank of Nova Scotia acted as administrative agent, lead arranger and bookrunner, while the Royal Bank of Canada acted as documentation agent.In…
Airline insurance premiums fall in late 2007
January 1, 2008 by Canadian UnderwriterAverage hull and liability lead premium for airline insurance has fallen by over 15% during the first nine months of 2007, according to Aon’s Airline Insurance Market Review: Pre-Renewal Season 2007 report.These reductions began in the final quarter of 2006.…
Corporate liability to greenhouse gasses likely to increase in the future: Willis
January 1, 2008 by Canadian UnderwriterCorporate exposure to liability for environmental damages related to greenhouse gasses is expected to increase, according to a report by Willis’ North American Environmental Practice. As a result, D&O exposure is expected to increase as well, as governmental agencies and…
Marsh & McLennan looks for new CEO, as Cherkasky steps down
December 21, 2007 by Canadian UnderwriterThe board of directors at Marsh & McLennan Companies Inc. is on the hunt for a CEO to replace Michael G. Cherkasky. Cherkasky has served as president and CEO of the company since 2004 and will continue to serve as…
What’s New: In Brief (December 21, 2007)
December 21, 2007 by Canadian UnderwriterWhat’s New: In Brief York Fire and Casualty Insurance Company has launched a manufacturer connection product aimed at the U.S. market, the latest in a collection of commercial product offerings. “The Manufacturing Connection product is designed to cover a wide…
What’s New: In Brief (December 20, 2007)
December 20, 2007 by Canadian UnderwriterPPG Canada Inc. and the CertifiedFirst Network have announced a platinum level sponsorship renewal of WICC (Women in Insurance Cancer Crusade). In the first three years of sponsorship of WICC, PPG worked closely with WICC and attended several key events…
Kingsway reports reserve increase at Lincoln General subsidiary
December 19, 2007 by Canadian UnderwriterKingsway Financial Services Inc. [KFSI] has reported a reserve increase at its Lincoln General subsidiary in 2007 Q4.“Following further review of trends in claims development at its Lincoln subsidiary, including the updated indications provided by the company’s external appointed actuary,…
What’s New: In Brief (December 19, 2007)
December 19, 2007 by Canadian UnderwriterThe 2008 edition of the Ontario General Insurance Hockey Tournament will run Apr. 18-20, 2008 in Fort Erie/Welland, with proceeds going towards Big Brothers and Big Sisters.Big Brothers and Big Sisters [B.B.B.S] operate Camp McGovern, a camp established in 1971…
What’s New: In Brief (December 19, 2007)
December 19, 2007 by Canadian UnderwriterPhishing attacks in the United States soared in 2007, as US$3.2 billion was lost to these attacks, according to a survey by Gartner, Inc.Phishing is essentially the practice of luring Internet users to a fake Web site through the use…