Segment
Risk Management
Cost of storm damage to increase insured and uninsured loses by two-thirds
June 29, 2005 by Canadian UnderwriterCombined, global costs resulting from catastrophic storm damage may show an increase of two-thirds by the 2080s, according to the Association of British Insurers (ABI).The new report, “Financial Risks of Climate Change,” provides a global analysis of the projected climate-change…
Directors and officers covered from personal liability
June 27, 2005 by Canadian UnderwriterIndependent corporate directors have access to a directors and officers insurance policy that may shield them from personal liability stemming from regulator or shareholder lawsuits.Hartford Financial Services Group Inc.’s Priority Protection-IDL coverage begins when an entity is barred by law…
Canadian security gains strength (June 27, 2005)
June 27, 2005 by Canadian UnderwriterCanadian security is set to skyrocket with the inception of a new North American plan intended to improve the response to internal and external threats while bolstering free flow of trade between Canada, U.S. and Mexico, according to Deputy Prime…
Marijuana grow operations may lead to higher insurance rates
June 20, 2005 by Canadian UnderwriterA recent fire in Richmond, BC is likely a result of a marijuana grow-op. The incident sets precedence for the new pot grow-op bylaw, set to take effect July 1, requiring landlords to check their premises for grow-ops every three…
What’s New: In brief (June 20, 2005)
June 20, 2005 by Canadian UnderwriterCORRECTION NOTICE: Royal & Sun Alliance Insurance Group Plc. is not calling for bids as was stated in the news release published on June 20, 2005. A Royal & Sun representative says the Company has no plans to call for…
Bait Car program may save insurers money
June 16, 2005 by Canadian UnderwriterInsurers may soon see a decrease in auto theft claims as recent initiatives by B.C. police take flight, right along with criminals in the act. According to media reports, lower mainland B.C. police have implemented a fleet of ‘bait cars,’…
What’s New: In brief (June 16, 2005)
June 16, 2005 by Canadian UnderwriterThe Canadian Agricultural Income Stabilization (CAIS) has recently received a number of changes to ensure the program is more responsive to the needs of producers, which represent 149,258 individuals nationwide. The CAIS increasingly offers significant assistance to CAIS producers, helping…
Integro Canada recruits another ex-Marsh to its team
June 15, 2005 by Canadian UnderwriterIntegro USA an insurance brokerage firm offering brokerage and risk management services recently appointed John Chippindale as the new managing director and president of Integro Canada. Chippindale is another ex-Marsh Canada employee the New York-based firm has recruited to its…
Survey shows large agencies increasingly hiring risk managers
June 13, 2005 by Canadian UnderwriterAccording to a recent compensation and benefits survey, conducted by the Business management Group Inc. (BMG), larger insurance agencies are more likely than not to employ a director of risk management, a claim specialist and a loss control specialist. BMG’s…
Insurance concerns cause cancellation of Ontario bike competition
June 10, 2005 by Canadian UnderwriterThe Ontario Cup downhill mountain bike competition planned for July has been cancelled, according to Alvin Weatherall, director of risk management at Blue Mountain an Intrawest resort where the event was to be held.Plans to terminate the event were finalized…
Third-party claims require underwriters to develop loss prevention techniques
June 7, 2005 by Canadian UnderwriterUnderwriters must develop loss prevention techniques to address businesses prone to coverage liability claims exposures arising out of discrimination, harassment and other employment practices issues, according to recent findings from the PLUS Employment and Fiduciary Issues Symposium. Panelists at the…
Europe plans anti-competitive activity investigations
June 7, 2005 by Canadian UnderwriterIn an effort to determine the prevalence of anti-competitive activity, the European Commission (EC) will soon begin to investigate Europe’s commercial insurance market. Investigations will determine if regulatory barriers led to anti-competitive behavior in insurance sectors including energy, telecommunications and…