Segment
Risk Management
Marsh appoints new global leader, consumer business
February 27, 2007 by Canadian UnderwriterMarsh Inc. announced the appointment of Henry S. Allen as global leader, consumer business, which includes the firms affinity and program management businesses, as well as its private client services division.Allen joined Marsh in 2002 as practice leader for the…
Hannover Re securitizes reinsurance recoverables
February 26, 2007 by Canadian UnderwriterFollowing successful securitizations in property/casualty and life/health reinsurance business, Hannover Re has now for the first time transferred the risks deriving from so-called “reinsurance recoverables” to the capital market.Reinsurance recoverables the outstanding claims held by reinsurers against their retrocessionaires traditionally…
World Bank to offer catastrophe risk insurance to Caribbean countries
February 26, 2007 by Canadian UnderwriterThanks to donor countries such as Canada, the World Bank is expected to be able to offer catastrophe risk insurance to 18 Caribbean countries in time for the 2007 hurricane season.Associated Press has reported officials from Caribbean nations are meeting…
What’s New: In Brief (February 23, 2007)
February 23, 2007 by Canadian UnderwriterWoodhouse Contracting Ltd. has joined a strategic partnership with Edenvale Restoration, uniting two of the largest independent companies in the Canadian disaster restoration industry.Edenvale, with headquarters in Abbotsford, B.C., operates in the British Columbia Lower Mainland with operation branches in…
What’s New: In Brief (February 22, 2007)
February 22, 2007 by Canadian UnderwriterPortage la Prairie Mutual Insurance Company has increased its investment in the 2007 Broker Identity Program (BIP), established in 1989 by the Insurance Brokers Association of Canada (IBAC).The BIP program is a branding campaign for over 30,000 insurance brokers. Twenty…
EGI Financial Holdings reports 2006 Q4 profit up 70%
February 22, 2007 by Canadian UnderwriterEGI Financial Holdings Inc. (TSX:EFH) announced a 2006 Q4 profit of $5.2 million an increase of 70% over its 2005 Q4 profit of $3.1 million.The improvement was primarily attributable to the year-over-year improvement in the combined ratio, as well as…
MINT Canadian Specialty offers unique medical liability coverage
February 21, 2007 by Canadian UnderwriterMINT Canadian Specialty is offering Canadian doctors unique protection against legal action when treating non-Canadian patients in Canada.Latitude Advantage MD, developed by MINT Canadian Specialty, provides an insurance option for physicians who may face legal action resulting from the care…
U.S. insurance industry facing obstacles to run-off
February 20, 2007 by Canadian UnderwriterThe U.S. insurance industry should be paying greater attention to the run-off market, according to a recent study published by PricewaterhouseCoopers’ (PwC) insurance restructuring group. Although the U.S. market is generally acknowledged as the largest in the world, with an…
What’s New: In Brief (February 20, 2007)
February 20, 2007 by Canadian UnderwriterRob Seal has been appointed to the position of president and chief executive officer of Cunningham Lindsey Canada Limited (CLC). Seal has held many adjusting and management positions during his 20-year career with CLC, most recently as president of Canadian…
New model assesses pandemic risk
February 20, 2007 by Canadian UnderwriterRisk Management Solutions (RMS) has launched the RMS Infectious Disease Model, the first commercially available probabilistic model for assessing the risk of influenza pandemics across multiple countries.The model, designed to help corporate risk managers, quantifies mortality and morbidity from nearly…
Strong 2006 earnings leading to increased competition, A.M. Best says
February 19, 2007 by Canadian UnderwriterMost global reinsurers are anticipating strong 2006 earnings thanks in part to a benign 2006 catastrophe season, A.M. Best has said in a published comment on the January 2007 renewal season.Global insurers are also taking advantage of an attractive pricing…
Sudbury gets first ‘safer living home’
February 19, 2007 by Canadian UnderwriterThe Designed…for safer living program recently celebrated a milestone as Ontario’s first safer living home, designed to withstand winds of 200 km/hour, was completed in Sudbury.The program is a partnership between the Institute for Catastrophic Loss Reduction (ICLR) and the…