Industry
American International Group (AIG) Inc. has reported a US$99.3-billion net loss for 2008, compared to a net income of US$6.2 billion in 2007. Its general insurance operations reported net premiums written of US$9.2 billion in 2008 Q4, a 16.3% decline compared to 2007 Q4. The company has since announced a set of initiatives in conjunction […]
By Canadian Underwriter | March 2, 2009
2 min read
Risk
There are some strange parallels between baseball's steroids crisis and the credit scoring and insurance issue that recently blew up in the Canadian media.
By David Gambrill, Editor | February 28, 2009
3 min read
RIMS Canada Conference Co-chairs Marilyn Leonard and Betty Clarke promise to give delegates of this year's conference in September a broad smorgasbord of knowledge
5 min read
NOVA SCOTIA CAP RULING, PART TWO The judge of the Supreme Court of Nova Scotia who dismissed the challenge to the province’s minor injury cap has issued a second part to his written decision. Justice Walter Goodfellow issued the second part of the Hartling et al. v Nova Scotia decision in anticipation that his Jan. […]
February 28, 2009
ING INSURANCE COMPANY OF CANADA TO BECOME INTACT INSURANCE COMPANY ING Insurance Company of Canada has become Intact Insurance Company. Institutional and retail investors acquired ING Groep’s ownership interest in ING Canada in a Cdn$2.2-billion private placement and secondary offering. The deal transformed the subsidiary into an independent, Canadianlisted and widely-held company. ING Canada Inc., […]
RIBO ISSUES BULLETIN TO BROKERS ON CREDIT SCORING Ontario’s broker regulator has issued a bulletin to the province’s brokers, saying that although the rules prohibiting credit scoring for the purpose of underwriting insurance are primarily aimed at insurance companies, the issue nevertheless affects the day-to-day business activities of brokers. The Registered Insurance Brokers of Ontario […]
1 min read
With the financial crisis upon us, risk managers have an opportunity to play the role of a hero within their organizations.
By Jack Mazakian, Kevin McMurray | February 28, 2009
6 min read
Today's most profitable companies include those with supply chains as lean and elastic as a Giacometti sculpture--and just as fragile.
By Perry R. Brazeau | February 28, 2009
Favourable reinsurance rates, rather than market instability, explain why cat bond issuance declined in 2008.
By Chi Hum | February 28, 2009
4 min read
Potential risk exposures for companies facing an economic downturn seem to be increasing at the very same time that a hard insurance market is imminent. Higher premiums and restricted coverage come with the hard market, making it harder for risk managers to find the insurance coverage they want or need when their own companies are tightening their belts financially. So how are risk managers planning to guide their corporate ships through this turbulent market?
By Vanessa Mariga, Associate Editor | February 28, 2009
13 min read
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