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News InsuranceMergers and Aqcuisitions

Trial lawyer chosen as consumer advocate in Newfoundland

September 27, 2004 by Canadian Underwriter

The Newfoundland government has selected a trial lawyer to act as consumer advocate in its hearings on insurance issues before the Public Utilities Board (PUB).Tom Johnson, a partner in O’Dea Earle Law Offices, will speak on behalf of consumers at

News Insurance

Buying of stand-alone “side A” D&O cover on the rise: Willis

September 23, 2004 by Canadian Underwriter

Executives are increasingly looking to protect their personal assets through the purchase of stand-alone “side A” directors’ and officers’ (D&O) cover, according to a new study by international broker Willis.The coverage, designed to protect directors and officers when the company

News Climate ChangeInsurance

What’s new: In brief (September 21, 2004)

September 21, 2004 by Canadian Underwriter

Lloyd’s chairman Lord Peter Levene called Texas “a state at risk” and called upon the city’s business to do more in terms of improving security and risk management. “Many companies have improved their security measures considerably since September 11th, but

News Insurance

E&S premiums up 28% in 2003: A.M. Best

September 21, 2004 by Canadian Underwriter

The U.S. excess & surplus (E&S) lines industry saw direct premiums rise 28% in 2003, compared to just 12% growth in the overall property & casualty industry, according to a new report by A.M. Best.E&S writers saw premiums jump 62%

News Climate ChangeInsurance

What’s new: In brief (September 20, 2004)

September 20, 2004 by Canadian Underwriter

Window cleaners in the U.K. are up in arms over insurance rate hikes. The British Cleaning Council (BCC) says that a 50% or more hike in premiums for those who are even able to acquire coverage at all is putting

News Insurance

Converium keeps stake in Global Aerospace

September 19, 2004 by Canadian Underwriter

Converium will keep its stake in Global Aerospace thanks to a “fronting” arrangement now in place. Converium currently has a 27.25% share in the provider of airline coverage. The fronting arrangement is with Berkshire Hathaway’s National Indemnity and Munich Re,

News InsuranceMergers and Aqcuisitions

What’s new: In brief (September 19, 2004)

September 19, 2004 by Canadian Underwriter

A survey of risk managers by the U.K.’s Association of Insurance & Risk Managers (AIRMIC) finds 21% have registered as insurance intermediaries under the new European Union Insurance Mediation Directive. The directive, which will be enforced by the U.K. Financial

News Insurance

Bermuda, London and U.S. markets showing interest in Canada: Seminar

September 16, 2004 by Canadian Underwriter

Commercial insurance buyers stand to benefit from increased interest from various countries in the Canadian market, speakers noted at the Ontario Risk & Insurance Management Society (ORIMS) “State of the Market” panel discussion Thursday.Even in the difficult executive risk line,

News Climate ChangeInsurance

What’s new: In brief (September 15, 2004)

September 15, 2004 by Canadian Underwriter

WICC Ontario is donating $25,000 to fund prostate cancer research projects in recognition of “Prostate Cancer Awareness Week”, September 20 to 26. The funding is part of WICC’s new goal to reach beyond breast cancer to the fight against all

News Insurance

London market expected to retain capacity despite market turn

September 14, 2004 by Canadian Underwriter

Despite a downturn in the insurance pricing environment, the London market is expected to maintain its record-setting profits and capacity through 2004 and 2005, according to the annual London Insurance Market survey by PricewaterhouseCoopers.However, insurers will be tested to maintain

News Insurance

Old and new Bermuda players riding wave of success

September 13, 2004 by Canadian Underwriter

Bermuda is becoming a “market of choice” for both reinsurance and primary cover as its capacity continues to grow in the wake of September 11, notes a new report by A.M. Best.In “Bermuda Building Capacity”, the rating agency notes that

News Insurance

Chubb study finds 60% of companies anticipating employee theft

September 13, 2004 by Canadian Underwriter

A new study commissioned by the Chubb Group of Insurance Companies finds 60% of private companies anticipate an employee will steal funds or equipment this year. Also, 34% say an employee may steal funds from a client. A full 39%