Canadian Underwriter

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Risk Management


News Insurance

Convergence products critical in competitive market

November 29, 2005 by Canadian Underwriter

“Convergence products” will play a critical part in the competitive landscape of the property-casualty industry even though they only represent a small segment, according to a new study by Conning Research and Consulting, Inc.The study, titled ‘Evolution in Risk and

News Insurance

Markel International opens Canadian branch in Toronto

November 28, 2005 by Canadian Underwriter

Markel International, the international property and casualty insurer, has announced the first official day of trading for its Canadian branch, MINT Canadian Specialty Underwriters (MCSU), located in Toronto.Markel Corporation markets and underwrites specialty insurance products and programs for a variety

News Climate ChangeInsuranceMergers and Aqcuisitions

Marsh report outlines post-Katrina world

November 25, 2005 by Canadian Underwriter

Hurricanes Katrina and Rita were “insurance-market-changing” events that many US insurers say will return property insurance rates to their 2003 levels, according to a white paper released by Marsh & McLennan Cos.“Catastrophe rate increases are ranging from 10% to more

News Insurance

Integro buys up Lloyd’s broker

November 24, 2005 by Canadian Underwriter

Integro Ltd. has expanded into the London, England marketplace, acquiring Humphreys Haggas Sutton & Co. Ltd (HHS).HHS is a Lloyd’s broker founded in 1994 by its three principals, Toby Humphreys, Simon Haggas and John Sutton. Integro has received regulatory approval

News Insurance

Risk management for small, non-profit operations: task force

November 23, 2005 by Canadian Underwriter

Making risk management strategies available to small businesses and volunteer-based operations in Atlantic Canada should help improve the availability and affordability of insurance in the area, a task force has recommended.Established in February 2005, the Atlantic Task Force on Insurance

News Insurance

Insurance industry key in rise of credit derivatives

November 18, 2005 by Canadian Underwriter

The insurance sector will continue to be a significant player in the “opaque” credit derivatives market, says the Fitch ratings agency.Fitch surveyed the activities of 120 financial institutions 73 banks and broker-dealers, 39 insurance companies and reinsurers, and eight financial

News Insurance

Lloyd’s issues “warning” about Marine Risks Ltd.

November 18, 2005 by Canadian Underwriter

Lloyd’s Underwriters in Canada has issued a press release “alerting brokers and policyholders that neither Marine Risks Limited of Toronto and Miami nor its representative Iain Duncan are approved coverholders or registered open market correspondents and that they have no

News Insurance

Insurance availability report to be released Nov. 23

November 18, 2005 by Canadian Underwriter

The Atlantic Task Force on Insurance Availability and Affordability has announced it will release its final report Nov. 23 at a news conference in Halifax.Established early this year, the task force has a mandate to develop recommendations to increase insurance

News InsuranceMergers and Aqcuisitions

Canadian regulators hint at “harmonizing” disclosure practices (November 16, 2005)

November 16, 2005 by Canadian Underwriter

Insurance industry association codes that outline best practices for disclosing income and potential conflicts of interest may not go far enough, as suggested in a November 2005 report by the Canadian Council of Insurance Regulators (CCIR) and the Canadian Insurance

News InsuranceMergers and Aqcuisitions

The London Market gross premiums down 15%

November 16, 2005 by Canadian Underwriter

Gross premiums on The London Market were conservatively estimated at 21.7 billion in 2004, down 15% on the previous year, according to a report by the International Financial Services London, a private sector organization promoting financial services worldwide.This news follows

News Insurance

RIMS to expand ERM initiatives

November 14, 2005 by Canadian Underwriter

The Risk and Insurance Management Society, Inc. (RIMS) is planning to become the premiere resource and support organization for Enterprise Risk Management (ERM). In the months ahead, RIMS plans to prepare new resources to support organizational implementation of enterprise risk

News Climate ChangeInsurance

Insurers’ commercial policy data inadequate: AIR study

November 14, 2005 by Canadian Underwriter

The quality and completeness of most insurers’ commercial policy data is insufficient for a detailed and accurate assessment of their catastrophe risk, according to a recent analysis of insurers’ exposure data by risk modeling company AIR Worldwide Corporation (AIR). “Nine