Segment
Risk Management
What’s New: In brief (October 11, 2006)
October 11, 2006 by Canadian UnderwriterDefective door latches are at fault for the recall of approximately 145,000 Ford Motor vehicles, including 13,683 in Canada. The Company plans to repair the defective parts which are found on vehicles including the 2005 Five Hundred, 2005 Mercury Montego…
Australian regulator releases guides for pandemic preparedness
October 10, 2006 by Canadian UnderwriterThe Australian Prudential Regulation Authority (APRA) has released an information paper and prudential practice guide (PPG) to assist APRA-regulated institutions including insurers and reinsurers with their planning for a potential pandemic.“The advice is being released following consultation with industry and…
New education tool kicks off Fire Prevention Week in Edmonton
October 6, 2006 by Canadian UnderwriterStaying Alive, an organization dedicated to teaching fire safety to children, has launched a new educational tool in Edmonton called a ‘Public Service Announcement (PSA).’The launch of the PSA coincides with National Fire Safety Week, held from Oct. 8-14.The bilingual,…
Continued softening in p&c market
October 6, 2006 by Canadian UnderwriterThe composite rate for the commercial property and casualty market dropped 8% compared with the same period last year, according to a report published by Dallas-based MarketScout.The Commercial P&C industry continued its trend toward softening as indicated by the report…
What’s New: In Brief (October 05, 2006)
October 5, 2006 by Canadian UnderwriterWhen Fire Prevention Week officially kicks-off in Oromocto on Oct. 7, the Insurance Bureau of Canada (IBC) will be making two special presentations to show support for New Brunswick’s 4,100 volunteer and 535 career firefighters.As part of the opening ceremonies,…
ING offers new identity theft plan
October 4, 2006 by Canadian UnderwriterING Insurance has launched a new insurance product that will provide consumers with financial and legal support against identity theft. Victims of identity theft who have suffered losses due to the fraudulent obtainment and use of their credit card, social…
S&P’s cites benefits of rating insurance captives
October 2, 2006 by Canadian UnderwriterSetting up captive insurance companies, if done properly, can be an effective application of enterprise risk management, according to Standard & Poor’s.In an Oct.2 press release announcing its participation in the September 2006 Rims Canada conference in Calgary, Standard &…
Corporate Canada poorly prepared for business disasters
October 2, 2006 by Canadian UnderwriterAlmost half of corporate Canada has faced disasters including power outage or IT failure but almost 75% rely on an “unofficial” business continuity plan, according to a recent report conducted by Leger Marketing for hosted services company Fusepoint Managed Services.The…
Partnership brings travel emergency service to Canada
October 2, 2006 by Canadian UnderwriterProfco Insurance & Financial Services Ltd., a Canadian based online travel insurance portal, recently partnered with travel-related global emergency services provider Travel Assist Network.Profco has begun offering the Air Rescue Card, and other online travel insurance products, to Canadian corporate…
Catlin securitizes against natural catastrophe
September 28, 2006 by Canadian UnderwriterCatlin Insurance Company Ltd. of Bermuda plans to enter into catastrophe swap agreement that would provide it with coverage of up to US$200.25 million in the event of a series of severe natural catastrophes.The transaction, which is subject to completion…
AMF calls for improved financial reporting
September 26, 2006 by Canadian UnderwriterThe quality of financial reporting in Quebec has improved over the past few years, according to the province’s regulator of financial institutions, the Autorit des marches financiers (AMF), but there is still work to do particularly when it comes to…
IUA launches Web site to prepare for new EU capital regime
September 26, 2006 by Canadian UnderwriterThe International Underwriting Association (IUA) has launched a new Web site to discuss Solvency II, the planned new European solvency regime for insurers to be established in 2010.The new Web site outlines the background to Solvency II, including a summary…