Industry
Clive R. Tobin will retire from his post as chief executive of XL Capital Ltd.’s insurance operations, and David B. Duclos will succeed him.Tobin will continue with XL as vice chairman of XL Insurance (Bermuda) Ltd., where he will concentrate on assisting with strategic opportunities in emerging markets, an XL release says.Duclos is currently the […]
By Canadian Underwriter | January 9, 2008
1 min read
A U.S. Supreme Court decision that reinforced a heightened pleading standard in securities suits was deemed the most important court award or settlement of 2007, according to a Willis Group Holding Canadian alert on executive risks. While the list of Top 10 court awards and settlements only addresses U.S. cases, “it will be of relevance […]
The B.C. Supreme Court ordered Sovereign General Insurance in December to pay its half of a Cdn$2.3-million policy to a couple who lost their multi-million dollar wine collection due to a sewer back-up, according to Canadian Press.A rare and expensive wine collection containing more than 8,000 bottles owned by Ralph and Diane Wells including 50 […]
Westport Insurance Corporation, a Swiss Re company, has merged with Employers Reinsurance Corporation. Employers Reinsurance Corporation holds a Canadian branch. In the merger, Employers Reinsurance Corporation assumed the Westport name and all of the liability and obligations under and according to the terms of the policies issued by Westport Insurance Corporation, according to a Swiss […]
By Canadian Underwriter | January 8, 2008
2 min read
The United States government has started to present its case against five former executives of General Reinsurance Corp. and American International Group Inc. in a fraud case surrounding a finite reinsurance transaction.The insurers have denied the fraud charges. They will present their case following the government’s opening statements.The insurance executives have reportedly argued the government’s […]
Crawford & Company announced a new operating structure that includes a smaller Global Executive Management team and four business units.The new units will include legal settlement administration as well as the information and communications technology division. In addition, Crawford Global Property & Casualty will be broken down into two distinct business units: Americas; and EMEA […]
By Canadian Underwriter | January 7, 2008
Strategy Institute, in conjunction with Canadian Underwriter, is holding the 4th annual Captive Insurance Strategies Summit on Apr. 1 and 2.The summit, held at the InterContinental Toronto Centre, will look at a range of issues including: achieving best practices in corporate governance; developing strategies to navigate legislative and regulatory barriers; maximizing profits while minimizing losses; […]
Chubb Insurance could pay out up to Cdn$5 million, assuming the approval of a settlement of the class-action lawsuit related to Crocus Investment Fund, CBC.ca reports. The out-of-court settlement would resolve a Cdn$200-million class action lawsuit over Crocus Investment Fund.Roughly 34,000 Manitobans contributed a total of about Cdn$150 million into the fund, the CBC reported. […]
By Canadian Underwriter | January 4, 2008
Marsh, a global insurance broking business, is consolidating its business into two geographic divisions: U.S./Canada and International.”Simplifying the current structure will enable Marsh to reduce complexity and improve efficiencies within the organization,” said Marsh CEO Daniel S. Glaser, who joined the firm last month.The company announced the changes to its global organizational structure in tandem […]
Arch Insurance Group, a member of Arch Capital Group Ltd., has formed a new energy division Arch Worldwide Energy that harnesses all of the group’s property and casualty energy-related capabilities into one dedicated unit.The new division combines Arch’s expertise in the areas of onshore energy, offshore energy, construction all-risk, erection all-risk and energy casualty. Arch […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
