Segment
Risk Management
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,…
What’s New: In Brief (July 16, 2007)
July 16, 2007 by Canadian UnderwriterAs the soft market approaches its fourth year, director and officers, and general liability premiums are dropping in 2007 Q2, while commercial property premiums remain stable, according to The Risk and Insurance Management Society (RIMS) Benchmark Survey and analysis conducted…
Willis to educate risk managers about corporate risks of kidnapping/extortion
July 13, 2007 by Canadian UnderwriterWillis Special Contingency Risks Limited (SCR) is hosting a global Web cast conference call on July 17, 2007, to educate risk managers, corporate risk officers and directors and officers about the risks of international kidnapping and extortion.Movie and television depictions…
Lloyd’s threatens to mandate use of electronic processing tools
July 11, 2007 by Canadian UnderwriterLloyds current use of Electronic Claims File and the Accounting and Settlement Repository (A&S) fall short of the goals set by the Market Reform Group (MRG), prompting the markets chief executive to threaten mandating the use of the electronic processing…
Allianz Group acquires AIM Underwriting Ltd. in Canada
July 11, 2007 by Canadian UnderwriterAllianz Global Corporate & Specialty North America, the corporate and specialty carrier of the Allianz Group in North America, has acquired AIM Underwriting Ltd. (AIM) in Canada.Since its establishment in 1999, AIM, a managing general agent, has maintained a strong…
What’s New: In Brief (July 10, 2007)
July 10, 2007 by Canadian UnderwriterKingsway Financial Services Inc. (TSX: KFS) and its newly formed subsidiary Kingsway 2007 General Partnership (KGP) announced the closing of the public offering of Cdn$1 million prinicipal amount of 6% senior unsecured debentures of KGP.The debentures were sold through a…
What’s New: In Brief (July 06, 2007)
July 6, 2007 by Canadian UnderwriterIt is absolutely vital that insurers and broker management system vendors continue to move forward with the adoption and implementation of CSIO Standards,” according to a statement released by the Centre for the Study of Insurance Operations (CSIO).The release announced…
What’s New: In Brief (July 06, 2007)
July 6, 2007 by Canadian UnderwriterMike Lowthlan has joined Kernaghan Adjusters Toronto office as an executive adjuster. Mikes illustrious career has spanned over three decades, during which time he has earned a well-deserved reputation as a respected executive adjuster in the Ontario market, Patti Kernaghan,…
Royal & SunAlliance shuffles executive team
July 6, 2007 by Canadian UnderwriterRoyal & SunAlliance Canada (R&SA) has announced three executive team appointments, including: Shawn Desantis as senior vice president, R&SA; Steve Knoch as vice president, underwriting operations and information services; and Mike Jakeman, CEO for R&SA Greater China.DeSantis, in his newly…
A.M. Best rates ING ‘A+’ but warns of soft market impact on profits
July 4, 2007 by Canadian UnderwriterA.M. Best Co. has affirmed the financial strength rating of A+ of the ING Canada Group, but noted: ING Canada will be challenged to maintain current profitability levels due to pricing pressure from competitors for commercial lines products and the…
Terrorism threat level heightened in Canada
July 3, 2007 by Canadian UnderwriterThe 2007 Aon Terrorism Threat Map shows that Canadas threat levels have increased from 2006 even though the map shows a weakening of the Islamist terrorist group Al Qaeda, as well as the other groups operating under its umbrella.The global…
CN tower terrorist attack could cost Cdn$23.5 billion in damages
July 3, 2007 by Canadian UnderwriterIf a small dirty bomb were to be detonated near the CN Tower in Toronto, the economic impact would be upwards of Cdn$23.5 billion, according to a federal study led by Defence Research and Development Canada, as reported by Canadian…