Segment
Risk Management
Fairfax reports Q2 profit of Cdn$168.1 million
August 10, 2007 by Canadian UnderwriterFairfax Financial Holdings Limited (TSX: FFH) announced a 2007 Q2 profit of Cdn$168.1 million, down from 2006 Q2 earnings of Cdn$229.2 million. Northbridge Financial Corporation (TSX: NB) and Odyssey Re Holdings Corp, Fairfaxs respective primary insurance and reinsurance operations, announced…
Cataclysmic infrastructure collapse: Who pays?
August 10, 2007 by Canadian UnderwriterA recent Minneapolis bridge collapse and New York steam pipe explosion, both of which collectively caused the deaths of at least six people and more than US$250 million in damages, has brought infrastructure liability to the fore, according to a…
Soft pricing, increasing expenses mar Canadian 2007 Q1 results
August 9, 2007 by Canadian UnderwriterContinued soft pricing, expense inflation and a drop in investment income marred the 2007 Q1 results reported by the Canadian insurance industry, according to a recent report by MSA Research Inc. and Baron Insurance Services Inc.Despite a 4.2% increase in…
U.S. execs cite competition as top risk
August 8, 2007 by Canadian UnderwriterCompetition was viewed as the number one risk ranked by a survey of 150 U.S. executives in Protivitis 2007 U.S. Risk Barometer.Customer satisfaction, the regulatory environment, information systems and IT security, and changing markets make up the first five of…
What’s New: In Brief (August 07, 2007)
August 7, 2007 by Canadian UnderwriterWestern Financial Group Inc. has completed the acquisition of Blonde & Blonde in Kelowna, B.C., Baxter Agencies, formerly a Trans West Insurance office, in Lac La Biche, AB, and Nielsen & Wolfe Agencies in Morrin, AB.“We are pleased to be…
What’s New: In Brief (August 01, 2007)
August 1, 2007 by Canadian UnderwriterThe Economical Insurance Group is maintaining its investment as a full partner of the Broker Identity Program for 2007, the Insurance Brokers Association of Canada (IBAC) has announced.By investing in the program, The Economical supports the message being delivered every…
Manitoba and Saskatchewan strike commercial vehicle registration deal
August 1, 2007 by Canadian UnderwriterA new commercial vehicle registration agreement has been struck between the Saskatchewan and Manitoba governments.The new reciprocal agreement will allow commercial trucks, buses and taxis to operate within 16 kilometres of the Saskatchewan-Manitoba border without having to pay for two…
What’s New: In Brief (July 25, 2007)
July 25, 2007 by Canadian UnderwriterInsured flooding losses in the United Kingdom this summer may yet reach more than 2 billion (Cdn$4.27 billion), less than half of what the regions March 1947 floods would have cost insurers had they happened today 4.5 billion to 6…
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 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,…