Segment
Risk Management
Insured damages creep past Cdn$1 billion in UK floods
June 28, 2007 by Canadian UnderwriterInitial estimates by Risk Management Solutions (RMS) suggest insured losses from recent floods that continue to batter the United Kingdom could exceed 500 million [Cdn$1.06 billion]. The rainfall situation, caused by a stationary east coast depression that draws moisture from…
What’s New: In Brief (June 28, 2007)
June 28, 2007 by Canadian UnderwriterSimmlands Insurance Brokers Ltd. is joining forces with Women in Insurance Cancer Crusade (WICC) to present the 2007 Canadian PGA Womens Championship Pro-Am on July 30 at the Ladies Golf Club of Toronto.This inaugural event will provide a fun-filled day…
What’s New: In Brief (June 27, 2007)
June 27, 2007 by Canadian UnderwriterBenfield has inked an agreement with Lloyds to provide an extensive range of risk modelling and consulting services to the market and its syndicates. Under the terms of the five-year agreement, Lloyds will license Benfields dynamic financial analysis modelling tool…
Guy Carpenter increases presence in Bermuda
June 26, 2007 by Canadian UnderwriterGuy Carpenter & Company LLC, a global risk and reinsurance specialist, has appointed a new Head of Office and expanded its office capabilities and resources in the Bermuda reinsurance market. It has been a landmark year for Guy Carpenter, as…
Cat models must be better at recognizing uncertainty
June 26, 2007 by Canadian UnderwriterCatastrophe modelers must do a better job of expecting the unexpected, according to speakers at a European conference, as reported by A.M. Best.I think we need to move to this new age the Age of Recognized Uncertainty, A.M. Best quotes…
Top companies not using captives to full potential
June 26, 2007 by Canadian UnderwriterContrary to popular belief, the captive market remains underdeveloped and more than half of the world’s top 1,500 companies (G1500) do not currently own a captive, according to research by Aon Global Risk Consulting.This means that insurance buyers within the…
Asbestos inhalation risk emerges post-Katrina
June 25, 2007 by Canadian UnderwriterThe widespread demolition and renovation activities still under way in New Orleans after Hurricane Katrina hit in 2005 may release asbestos fibers into the air, posing a potential additional health risk, the U.S. Government and Accountability Office (GAO) wrote in…
SRPI launches product designed for Canadian golf courses
June 25, 2007 by Canadian UnderwriterSignature Risk Partners (SRPI) Inc. has launched a property and casualty product designed for Canadian golf course owners, with coverage extending from property and equipment, business interruption, crime and commercial general liability.The Signature Golf insurance program was created after a…
Canadian carriers lagging in service: survey
June 22, 2007 by Canadian UnderwriterCanadian carriers scored the lowest in terms of quality of underwriting, policy administration and service when compared with the United States, London and Bermuda carriers in Willis Groups inaugural Carrier Evaluation Survey.In terms of claims, Canadians nudged ahead of Bermuda-based…
What’s New: In Brief (June 21, 2007)
June 21, 2007 by Canadian UnderwriterThe Autorite des Marches Financiers (AMF) found Sylvain Desgens guilty of five charges under the act respecting the distribution of financial products and services. Desgens was found guilty of acting as a representative in insurance of persons without holding a…
RIMS supports TRIA extension
June 20, 2007 by Canadian UnderwriterThe Risk and Insurance Management Society (RIMS) has commended the June 18 introduction of the Terrorism Risk Insurance Revision and Extension Act (TRIREA) of 2007.RIMS strongly supports the reauthorization of TRIA and believes the introduction of this important measure represents…
What’s New: In Brief (June 18, 2007)
June 18, 2007 by Canadian UnderwriterThe Risk and Insurance Management Society (RIMS) has sponsored publication of a new handbook to help people make sense out of that nebulous area known as Enterprise Risk Management (ERM). The title of the book which would be familiar to…