Claims
The damage caused by Hurricane Ivan’s assault on off-shore oil producers halted expected reinsurance rate softening in the energy sectors, according to a new report by reinsurance broker Guy Carpenter & Co.In its “Marine & Energy Reinsurance Review Report 2005”, Guy Carpenter says losses to the offshore energy sector as a result of Hurricane Ivan, […]
By Canadian Underwriter | January 24, 2005
1 min read
Federal and provincial representatives meeting in Ottawa have agreed to a plan to strengthen Canada’s emergency preparedness plans. In a meeting chaired by Deputy Prime Minister Anne McLellan and Ontario Minister of Community Safety Monte Kwinter, provincial and territorial ministers drew up an eight-point plan and established a permanent forum for annual meetings on emergency […]
Aviva Canada says it will connect directly to the Centre for Study of Insurance Operations (CSIO) portal in 2005, but in the meantime will be guaranteeing quotes generated on the portal as of March 1. This applies to Aviva’s Pilot, Scottish & York and Traders companies. Aviva Canada CEO Igal Mayer says, “I personally believe […]
2 min read
Broker network Hub International has named James S. Barton as president and COO of B.C.-based Hub International Barton Ltd. Also George C. Robertson has been named chief sales officer. James Barton replaces Craig Barton, who will remain as chair and CEO, as well as president of Canadian operations for Hub International. Hub also announces that […]
By Canadian Underwriter | January 23, 2005
Claims from the December 26 Asian tsunami are not expected to impact the financial strength ratings of insurers and reinsurers rated by Moody’s Investor Service. In a special report on the tragic event which has taken the lives of more than 220,000 people, Moody’s says despite massive human and economic losses, insured losses are "expected […]
Following reassessment of its purchase of Vista, Calgary-based Anthony Clark International Insurance Brokers (TSX: ACL) has restated its half-year earnings for the period ending June 30, 2004. The company announced last November revised figures for the first quarter of 2004, after it determined the fair value of vendor debt issued on the Vista acquisition was […]
By Canadian Underwriter | January 19, 2005
The Canadian government Tuesday said it would earmark $850,000 to help the B.C. provincial government beef up its tsunami warning system.Public Safety and Emergency Preparedness Canada (PSEPC) will set aside $350,000, while Indian and Northern Affairs Canada will kick in $500,000 in funding for training, telecommunications and tsunami warning capabilities for coastal B.C. communities. PSEPC […]
By Canadian Underwriter | January 18, 2005
Two researchers who work with the Institute for Catastrophic Loss Reduction (ICLR) will be heading this week to the World Conference on Disaster Reduction in Kobe, Japan.Dr. Gordon Bean and Dr. Slobodan Simonovic are set to present research to the conference, which has gained the spotlight in the wake of the Asian tsunami disaster.Dr. Simonovic, […]
By Canadian Underwriter | January 17, 2005
Manitoba Public Insurance (MPI) says for the first nine months ending November 30, 2004, it pulled in net income of $81.5 million, more than double the $38.7 million reported in the first nine months a year prior.Premiums written were up over the same comparative period to $577.6 million from $526.7 million the year before. At […]
The Vermont Banking, Insurance, Securities and Health Care Administration (BISHCA) says 43 new captives were formed in the domicile in 2004. The forms were varied, with 29 pure captives, 8 risk retention groups (RRGs), and also industrial insureds, sponsored, association and branch captives being formed. Some of the notable new entrants are Wal-Mart Stores, Best […]
By Canadian Underwriter | January 16, 2005
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