Canadian Underwriter

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Risk Management


News Insurance

What’s new: In brief (March 07, 2005)

March 7, 2005 by Canadian Underwriter

Aviva Canada has officially launched its "Autograph" program in Ontario. The program allows drivers to monitor their driving habits (including speed and how far the car is driven) through a device attached to their car, and to submit this information

News Insurance

Aon to pay US$190 to settle three investigations

March 6, 2005 by Canadian Underwriter

Aon Corp. has created a US$190 million fund to compensate clients as a result of investigations in three states into contingent commissions and business practices.The fund applies to policies incepted or renewed between January 1, 2001 and December 31, 2004,

News Insurance

Saskatchewan Wheat Pool secures cover for grain volume

March 6, 2005 by Canadian Underwriter

The Saskatchewan Wheat Pool is announcing a new insurance program for fiscal 2006 to cover grain volumes.The coverage, developed with reinsurance broker Aon Re Canada Inc., is intended to help earnings and cash flow stability in years of poor grain

News Insurance

Canada the “right fit”, says Markel International CEO

March 3, 2005 by Canadian Underwriter

The Canadian market was “the right fit” to become the newest office established by Markel International, says the company’s CEO.Gerry Albanese says the decision to establish MINT Canadian Specialty Underwriters (MCSU) was based on several factors. “We like the location,”

News Insurance

ORIMS PD DAY: Keynote speaker calls for end to broker commissions

March 2, 2005 by Canadian Underwriter

Broker commissions should be history, and broker compensation should come from the client rather than the insurer, says the keynote speaker to Wednesday’s Ontario Risk & Insurance Management Society (ORIMS) “Professional Development Day”.Felix Kloman, editor of Risk Management Reports told

News Insurance

RIMS continues push for TRIA extension

March 2, 2005 by Canadian Underwriter

The Risk and Insurance Management Society (RIMS) is reaffirming its support for an extension of the Terrorism Risk Insurance Act (TRIA).Currently a bill is before the U.S. Senate which would extend the government’s terrorism insurance backstop for two years beyond

News Insurance

Marsh plans 2,500 more job cuts

March 1, 2005 by Canadian Underwriter

Releasing its 2004 yearend results this week, Marsh says it may cut as many as 2,500 more jobs worldwide in an effort to reduce costs. This comes on top of 3,000 job cuts already made since the investigation into alleged

News Insurance

Canadian, U.S. financial institutions lag in managing risk: Deloitte

March 1, 2005 by Canadian Underwriter

Canadian and U.S. financial institutions are falling behind those of other countries in managing today’s escalating risks, according to a new study by Deloitte.The study, based on interviews with executives from 162 global financial institutions, makes this conclusion based on

News Insurance

What’s new: In brief (March 01, 2005)

March 1, 2005 by Canadian Underwriter

RIMS has announced the CEOs of two of the world’s largest insurance brokerages will take part in a keynote panel on the broker compensation issue at its annual conference in Philadelphia this April. Marsh CEO Michael G. Cherkasky and AON

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What’s new: In brief (February 27, 2005)

February 27, 2005 by Canadian Underwriter

ICBC says two Abbotsford residents have pleaded guilty to charges of providing false information to the public auto insurer. Harminder Singh Ghuman was fined $2,000 and Kesar Singh Sidhu was fined $1,500 for filing fraudulent claims following a collision in

News Insurance

B.C. tourism operators launch insurance and risk management program

February 27, 2005 by Canadian Underwriter

In response to rising premiums and availability issues, B.C.’s tourism operators have some new tools to improve their risk profile and hopefully receive lower rates, but also to provide coverage in specific sectors.The province’s Council of Tourism Associations has put

News Insurance

Reliance settles with Pennsylvania regulator

February 27, 2005 by Canadian Underwriter

Reliance Insurance Group, which was placed in liquidation in the U.S. in 2001, has made a settlement with Pennsylvania Insurance Commissioner Diane Koken. Koken filed suit against the parent Reliance Group Holdings’ CEO Saul Steinberg and other directors and officers