Segment
Risk Management
Large companies lead the way in pandemic preparedness
July 7, 2006 by Canadian UnderwriterLarge and publicly held companies appear to be more advanced than their smaller counterparts in their preparations for a possible avian flu pandemic, according to a study by The Conference Board, a New York-based, global research centre. The report was…
Whitehill/InSystems merger produces new insurance software
July 6, 2006 by Canadian UnderwriterWhitehill Technologies, Inc., based in Moncton, NB, has begun shipping the latest version of IStream Publisher, which is part of the InSystems product line that focuses on “speed-to-market” for the insurance industry.“The software gives insurers complete control over document production…
What’s New: In Brief (July 06, 2006)
July 6, 2006 by Canadian UnderwriterBateman Chapman, Canada has acquired Toronto-based MGI Loss Adjusters Inc. “MGI brings to Bateman Chapman a group of experienced loss adjusters specializing in the areas of commercial/industrial claims including major mining, course of construction, liability, energy and utility losses in…
Study finds corporate misconduct remains the same, despite SOX
July 5, 2006 by Canadian UnderwriterA KPMG study of U.S. corporate behavior in the wake of strong corporate governance legislation like Sarbanes-Oxley will likely have many risk managers and D&O insurers shaking their heads According to the KPMG Integrity Survey 2005-06, 74% of the more…
Side A D&O policy limits, rescissions increase
July 4, 2006 by Canadian UnderwriterPlaintiffs’ attempts to impose personal liability on directors is becoming a trend, as are insurers’ attempts to rescind D&O coverage upon learning of fraudulently-reported financial statements, A.M. Best reports.In some recent U.S. corporate scandals, A.M. Best notes, “plaintiffs’ attorneys have…
New national P&C conference to be launched in 2007
July 4, 2006 by Canadian UnderwriterA new Canadian insurance conference, planned for the end of September 2007, will bring together CEOs and senior executives of the property and casualty insurance industry.The inaugural National Insurance Conference of Canada (NICC) will be held in Montreal from Sept.…
Integro appoints Wayne Snow for construction practice
June 29, 2006 by Canadian UnderwriterIntegro (Canada) Ltd. has appointed Wayne Snow as principal for the company’s Toronto office, where he will lead and develop Integro’s Canadian construction practice.Snow has 30 years of experience in risk management and commercial insurance, most recently serving as senior…
Value of weather risk management contracts soars (June 28, 2006)
June 28, 2006 by Canadian UnderwriterThe notional value of weather risk management contracts increased nearly five-fold over the past year from US$9.7 billion in April 2005 to US$45.2 billion as of March 2006.The Weather Risk Management Association (WRMA), an international trade organization of the weather…
Crawford Adjusters Canada announces appointments
June 28, 2006 by Canadian UnderwriterCrawford Adjusters Canada has appointed Bill Johnstone vice president, Greater Toronto Area (GTA) Region.The company described the promotion in a press release as “part of a larger realignment of Crawford’s operating divisions across Ontario.”Crawford has restructured its Ontario market into…
Task force asked to looked into terrorism insurance concerns
June 27, 2006 by Canadian UnderwriterThe US federal anti-terrorism task force has been put on the spot to research terrorism insurance concerns prior to issuing its terrorism insurance market report due for release later this year.Under the terms of the 2005 Terrorism Risk Insurance Extension…
S&P’s changes Munich Re outlook to ‘positive’
June 27, 2006 by Canadian UnderwriterStandard & Poor’s Ratings Services has revised its outlook on Germany-based Munich Reinsurance Co. and its core operating entities to positive from stable. In addition, the ‘A+’ counterparty credit and insurer financial strength ratings on Munich Re and related core…
Quebec private damage insurers “stable” in 2005
June 26, 2006 by Canadian UnderwriterPrivate damage insurers in 2005 collected CD$7.1 billion in premiums in Qubec almost the same level as the CD$7 billion collected in 2004, according to a recent report to Quebec’s National Assembly. “The damage insurance business in Qubec was therefore…