Industry
Etienne Dubé has returned to lead Aon Consulting Canada’s financial risk consulting (FRC) practice. He has been working out of the Montreal office since Nov. 23.The FRC practice offers customized strategic risk management and investment advice solutions, by identifying, quantifying and managing not only funding and investment risks, but all aspects of a client’s plan […]
By Canadian Underwriter | December 4, 2009
1 min read
About 120 Manitobans catastrophically injured in vehicle crashes have received a share of Cdn$14 million in additional benefits arising from Bill 36, enacted in October 2009.Bill 36 was first introduced in the spring to strengthen Manitoba’s Personal Injury Protection Plan (PIPP) and provide a clear definition of catastrophic injury.The bill also clearly establishes Manitoba Public […]
By Canadian Underwriter | December 3, 2009
The Risk and Insurance Management Society (RIMS) strongly supports legislation that would form the first federal office of insurance in the United States.The proposed office would be the first centralized authority on insurance matters. It would enable the federal government to gain insurance expertise and speak with one voice on international insurance policy, a RIMS […]
Regulatory risk may be converging with reputation risk, with new regulatory penalties requiring a company to effectively advertise its own conviction through the sanction of a publicity order, a Lloyd’s specialist said.Anthony Fitzsimmons, chairman of London-based reputation risk specialists Reputability, said that regulators are more reputation-savvy and the United Kingdom is at an early stage […]
A number of financial risks — including collateral use, securitization and counterparty credit risks — have proven to require specific attention in light of the recent market turmoil, the Office of the Superintendent of Financial Institutions says in its recently posted guidelines on stress-testing.Guideline E-18 sets out OSFI’s expectations related to the use of stress […]
By Canadian Underwriter | December 2, 2009
2 min read
The end of 2009 presents a very different property market landscape than at the beginning of 2009, with the trend toward higher property rates largely disappearing in 2009 Q3, Aon reports.In its Quarterly Market Overview: Summary and Forecast, Aon examines the 2009 Q3 results for property, casualty and directors’ and officers’ lines in the United […]
Three women in Canada’s property and casualty insurance industry have appeared on The Women’s Executive Network’s Top 100 list of “Canada’s Most Powerful Women.”Appearing on the list are:• Priscilla Ng, a marketing consultant at the Western division of Intact Insurance;• Susan Black, the chief human resources officer and senior vice president of planning at Intact […]
By Canadian Underwriter | December 1, 2009
Swiss Re economists predict insurance and reinsurance will continue to recover in 2010, based on the assumption of a “U-shaped” recovery.But the increasingly positive results may be tempered by increasing losses due to natural catastrophes and low asset returns, Swiss Re warned.“The global economy grew in the second half of 2009, but the recovery is […]
The U.S. and Bermuda reinsurance markets are seeing a disciplined January renewal season despite the recession, according to BestWire. Reinsurers are benefiting from both an improved investment market and a quiet hurricane season, BestWire reported. Unless a ceded portfolio had experience a loss, most reinsurers noted they were seeing stable premium rates, terms and conditions. […]
INSURERS CONTINUE TO TAKE BEATING IN AUTO ACCIDENT BENEFIT LINES IN 2009 Q3 Canadian and foreign insurers licensed with the Office of the Superintendent of Financial Institutions (OSFI) continued to take a beating in the auto-personal accident category (which includes accident benefits), according to OSFI’s 2009 Q3 results. Canadian insurers saw their collective claims ratio […]
November 30, 2009
3 min read
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