Claims
Traditional modelling techniques will not work for emerging risks, Oxford University researcher Peter Taylor told delegates at a seminar in London, England, entitled “Catastrophe Modelling from a European Perspective.”The Reinsurance Association of America and the International Underwriting Association (IUA) of London jointly organized the seminar.Taylor’s presentation asked whether traditional cat modelling is up to the […]
By Canadian Underwriter | June 17, 2008
2 min read
New forms of public-private partnerships can help governments worldwide cope financially with the increasing damage costs of natural catastrophes, according to a new report by Swiss Re. “While governments, development banks or NGOs are constantly getting better at managing disasters more actively, they are finding it more and more difficult to address the financial implications […]
By Canadian Underwriter | June 12, 2008
1 min read
With the 2008 hurricane season officially underway, forecaster Tropical Storm Risk (TSR) is predicting Atlantic basin and U.S. land-falling hurricane activity in 2008 will be slightly (20%) above the long-term (1950-2007) norm. This updates the 35% above-norm prediction TSR issued on Apr. 7, 2008. “The lowering of the forecast is due to the unexpected rapid […]
By Canadian Underwriter | June 2, 2008
Cooper Gay has purchased Heath Lambert’s aviation, FSJ (UK wholesale) and reinsurance divisions as of May 31. Commercial discussions are ongoing with regards to the sale of Heath Lambert’s international wholesale division, Global Business Solutions (GBS), according to a Heath Lambert release. “From our perspective, we have made no secret of our plans to become […]
Whenever Canadian insurance company claims departments and legal vendors seek signs of The Apocalypse when it comes to claims litigation, they often look in the direction of United States courtrooms. And it’s a common psychological tendency that when we look for something, we are bound to find it. Take, for example, the U. S. case […]
By David Gambrill | May 31, 2008
4 min read
The Honourable Order of the Blue Goose International, Ontario Pond held its 8th annual Scotch Nosing on Apr. 24 at Jamie Kennedy at the Gardiner in Toronto. Dozens of noses attended this exclusive event, including an esteemed panel of judges. Throughout the evening, guests sampled some of Scotland’s rarest and finest single malts and enjoyed […]
May 31, 2008
Record snowfalls and severe winter storms in central Canada caused ING Canada’s 2008 Q1 profit to shrink from Cdn$126.2 million down to Cdn$23 million. ING Canada also cited lower operating income and declines in equity markets as factors in its 2008 Q1 results. “The harsh winter conditions during the first three months of the year […]
More than 120 industry veterans attended the 49th Annual Reception of the Quarter Century Club, held May 7 at the Hilton International in Toronto. Emcee John Cherrie welcomed members and presided over the ” roast” of Scott ‘Scooter’ Francis. Francis started his insurance industry career in 1972 with The Co-operators, before moving to L. S. […]
The chart which appeared in the April/May 2008 article Injury Biomechanics, Addressing Issues of Injury Causation, by Gunter Siegmund, president, and Ismail El Maach, senior engineer, at MEA Forensic Engineers & Scientists contained an error. The chart should have read as displayed here. We apologize for the error.
Amendments to the Law Society Act in Ontario in 2007 meant that those who provide legal services would be subject to licensing under the Act. “For the purposes of this Act, a person provides legal services if the person engages in conduct that involves the application of legal principles and legal judgment with regard to […]
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