Industry
Fitch Ratings has issued a special report on credit factors it uses to analyze the global non-life and life reinsurance sector. The sector-specific factors are a supplement to the firm’s global master criteria “Insurance Rating Methodology” from Jan. 11, 2013. Those criteria influence Fitch’s core fundamental credit analysis of insurance companies and groups. As with […]
By Canadian Underwriter | August 15, 2013
1 min read
Consumers in the United Kingdom taking part in a recent survey put financial services providers at the bottom of the list for offering the highest standards of customer service, note results released Thursday by Aspect Software. From a list of 13 groups of different organization types, financial services was rated the worst, reports Aspect Software, […]
2 min read
RIMS announced Wednesday the release of an executive report on property loss control, which provides advice on fire prevention a well as earthquake, flood and wind risk. “Although fire remains the most common threat to property, natural hazards such as windstorms (hurricanes, typhoons and tornados), earthquakes, freezing temperatures and floods can also cause loss,” according […]
By Canadian Underwriter | August 14, 2013
Manulife Financial has entered into an agreement to reinsure the travel insurance coverage sold by RBC Insurance through travel agencies, the company announced Wednesday. The deal will also include transitioning RBC’s sales and distribution support for its travel agency insurance business to Manulife. Travel agencies will also be able to renew their agency agreements with […]
While there’s no one-size-fits-all approach to incentive compensation design, organizations can follow some key principles to mitigate risk, notes a recent joint paper from three actuarial groups. “Insurance companies’ risk management practices came under great scrutiny as a result of the financial crisis,” notes the paper recently published by the Joint Risk Management Section of […]
The Switzerland-based Financial Stability Board (FSB) is exploring the application of the key attributes of effective resolution regimes for financial institutions to non-bank financial institutions, including insurance companies, and on principles governing information sharing for resolution purposes. The FSB announced in a statement Aug. 12 that it has launched a public consultation to consider the […]
3 min read
The Insurance Bureau of Canada is encouraging students entering college or university to take up a tenant’s policy if they’re planning to move away from home and rent. While some home insurance policies have coverage for personal property while away at school up to a certain limit, IBC is urging consumers to get in touch […]
By Canadian Underwriter | August 13, 2013
Only 41% of companies surveyed are considered to have “mature” supply chain risk management processes, but nearly four in five mitigate against disruptions by implementing a dual sourcing strategy, according to a recent report. The Massachusetts Institute of Technology (MIT)’s Forum for Supply Chain Innovation recently released a report, titled 2013 Global Supply Chain and […]
The Insurance Bureau of Canada is urging residents of the Burin Peninsula in Newfoundland to remember safety first following intense rain, flooding and damage on Saturday night. Some residents in Marystown and along the peninsula have experienced flooded basements after rains that also damaged municipal and provincial roads, IBC said. Engineers have been called in […]
By Canadian Underwriter | August 12, 2013
A new documentary has been released as part of a campaign by several major wireless carriers in the United States to end texting while driving. The 34-minute documentary, “From One Second to the Next,” by German filmmaker Werner Herzog, expands on the personal stories told through 30-second spots launched in May as part of the […]
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