Segment
Risk Management
Reinsurers wary of “naive,” short-term capital providers
May 17, 2007 by Canadian UnderwriterTraditional or legacy reinsurers, those who have been in the business a long time, are confronting a recent sea change in reinsurance philosophy, according to the senior vice president and chief agent in Canada for the Toa Reinsurance Company of…
Aviva Canada appoints Spencer as president and CEO
May 17, 2007 by Canadian UnderwriterRobin Spencer has been appointed president and CEO of Aviva Canada Inc., effective July 12, 2007.Spencer is currently the executive vice president and chief financial officer with Aviva Canada Inc. Robins accomplishments, experience and ability to drive organizational success will…
Lower investment gains, underwriting income eat into ING’s 2007 Q1 profits
May 16, 2007 by Canadian UnderwriterING Canada Inc. (TSX: IIC) reported a 2007 Q1 net income of Cdn$126.2 million, down from Cdn$185.9 million recorded during the same quarter last year.Lower gains on invested assets and, to a lesser extent, underwriting results reduced our profitability, ING…
Retrocessional rates still high after 2004-05 hurricanes
May 15, 2007 by Canadian UnderwriterReinsurers are still feeling the pinch of high rates and tight capacity after disastrous losses between 2004 and 2005. In 2005 and 2006, pricing in the retro market did become extreme, David Priebe, head of specialty operations for reinsurance broker…
What’s New: In Brief (May 14, 2007)
May 14, 2007 by Canadian UnderwriterAMAC Consultants Inc. announced the appointment of Paul M. Green as vice president, in a bid to strengthen its national presence.Green will primarily be responsible for growing the firms Ontario business and serving its clients in Easter Canada from AMACs…
CIAA discusses impact of changes to CGL policy
May 11, 2007 by Canadian UnderwriterOf the 23 changes made in 2005 to the standard commercial general liability policy (CGL) by the Insurance Bureau of Canada, seven are considered significant, attendees of the Canadian Independent Adjusters’ Associations Ontario Region educational seminar were told.The first major…
Crawford launches Canadian commercial auto services branch
May 9, 2007 by Canadian UnderwriterCrawford & Company (Canada) Inc. has announced the creation of a commercial auto services branch, which will oversee programs in the commercial auto sector. Working with Crawfords global branch network, this new team will manage programs within the commercial auto…
Privacy commissioner calls for action against identity theft
May 9, 2007 by Canadian UnderwriterCanadas privacy commissioner is imploring governments and businesses to take action against identity theft, calling it a pervasive problem for Canadians.Commissioner Jennifer Stoddart addressed the Standing Committee on Access to Information, Privacy and Ethics, which just released a study on…
IPCC notes link between insurance practices and climate change
May 8, 2007 by Canadian UnderwriterThe Intergovernmental Panel on Climate Change (IPCC) points to changes in insurance practices as an indirect form of climate change policy in its its fourth report, Climate Change 2007. According to the panel, there is growing evidence that decisions concerning…
MMC reports Q1 profits of Cdn$3.1 billion
May 8, 2007 by Canadian UnderwriterMarsh & McLennan Companies Inc. (MMC) reported revenues of US$2.8 billion [approximately Cdn$3.1 billion] and a profit of $1.5 billion [approximately Cdn$1.66 billion] in its risk and insurance services during the 2007 Q1, an increase of 1% from 2006 Q1.Marshs…
ICLR unveils tornado- and winter storm-resistant home
May 7, 2007 by Canadian UnderwriterThe Institute for Catastrophic Loss Reduction (ICLR) is unveiling a winter storm- and tornado-resistant home in Edmonton, Alberta.The home retrofit includes: anchoring cabinets, office equipment and bedroom furniture to walls; bracing TV stands, televisions and refrigerators with appliance straps; outfitting…
AIR sponsors hurricane simulator
May 7, 2007 by Canadian UnderwriterAIR Worldwide Corp, a global risk modelling company, has teamed with the International Hurricane Research Center (IHRC) to fund the AIR Turntable for the centres hurricane simulator.The AIR Turntable is a computer controlled, mechanical platform which will be used to…