Segment
Risk Management
Moody’s changes outlook on Hanover Group to positive
December 15, 2006 by Canadian UnderwriterMoody’s Investors Service has changed its outlook on the ratings of The Hanover Insurance Group, Inc. (NYSE: THG) and its subsidiary, Hanover Insurance Company, to positive from stable.“The positive outlook reflects stronger risk-adjusted capitalization, improving underwriting results, and more stable…
Corporate governance still a concern in 2007
December 14, 2006 by Canadian UnderwriterCorporate governance is likely to remain an area of relevance and concern in 2007, according to a recent report by Standard & Poor’s.“While the numerous corporate governance reforms, laws, and code implemented earlier in the decade in markets around the…
BCAA Insurance urges responsible candle use during holidays
December 13, 2006 by Canadian UnderwriterBCAA Insurance is cautioning policyholders about the dangers of using candles as Christmas dcor items during the holiday season.“Since the early 1980s, when the popularity of candles grew rapidly, BCAA Insurance has witnessed a steady increase of candle-related claims, particularly…
What’s New: In brief (December 13, 2006)
December 13, 2006 by Canadian UnderwriterAllstate Insurance Company of Canada is serving as the title sponsor for MADD Canada’s annual holiday season campaign for safe and sober travel — Project Red Ribbon.“Allstate is extremely proud to be partnering with MADD Canada again to get the…
What’s New: In brief (December 13, 2006)
December 13, 2006 by Canadian UnderwriterOrganizers of the 2007 Ontario General Insurance Hockey Tournament are calling for participants and sponsors.Last year’s tournament raised more than $35,000 for the Big Brothers Big Sisters, Kitchener-Waterloo area.This year organizers will be donating proceeds to local charities and Camp…
Growth potential huge for insurance-linked securities
December 12, 2006 by Canadian UnderwriterThe total volume of Insurance-linked Securities (ILS) outstanding has grown three-fold over the last five years, and is now close to US$23 billion, according to Swiss Re’s new sigma study “Securitization.”Life bonds account for two-thirds (or US$15 billion) of the…
Swiss Re calls for TRIA extension
December 12, 2006 by Canadian UnderwriterSwiss Re urged for the renewal of the Terrorism Risk Insurance Act (TRIA) during the reinsurer’s 2006 year-end economic forum and 2007 insurance industry review.Swiss Re based its position on the belief that the insurance industry isn’t equipped to deal…
Lloyd’s seven steps to managing the cycle
December 8, 2006 by Canadian UnderwriterInsurers should refuse to ‘follow the herd,’ provide the right incentives for underwriters, and invest in risk management tools in order to successfully manage the insurance cycle, according to a report recently released by Lloyd’s of London.The report, Managing the…
Dale-Parizeau LM and Morris & Mackenzie Inc. merge
December 8, 2006 by Canadian UnderwriterDale-Parizeau LM and Morris & Mackenzie Inc. will merge to become Dale-Parizeau Morris Mackenzie Inc.This new incarnation will become Quebec’s largest independent and privately owned insurance broker.The company will write more than Cdn$200 million of premium with 400 staff operating…
What’s New: In Brief (December 07, 2006)
December 7, 2006 by Canadian UnderwriterThe Canadian team at Willis Group Holdings has appointed Joe Beesack as the senior vice-president of its alternative risk solutions practice. Beesack’s focus will be on loss forecasting, deductible optimization, risk modeling, captive assessment and feasibility studies. His area of…
U.K. insurers still need to improve risk management, regulator says
December 7, 2006 by Canadian UnderwriterU.K. insurers have improved their risk management practices since 2003, but they still have a lot of work to do, according to the U.K. insurance industry’s regulator, the Financial Services Authority (FSA).The FSA’s most recent report, Insurance Sector Briefing: Risk…
Costs of liability coverage dropping, Marsh study finds
December 6, 2006 by Canadian UnderwriterWhile the costs of liability coverage have been dropping, businesses on average have maintained their level of coverage, says a global study by Marsh Inc.The study surveyed 7,196 companies 562 of which were Canadian — in 53 countries. Findings are…