Industry
Toronto certainly earned its nickname ‘Hollywood North’ when the 80 exhibitors at the 2008 RIMS Canada Conference took the Vintage Hollywood theme to the limit. It was all lights, camera and action as industry members got set for their booth close-ups in the Exhibit Hall.
October 31, 2008
1 min read
Risk
A star-studded speaker lineup at the 2008 RIMS Canada Conference delivered rich and emotionally-charged content, challenging delegates to rethink their risk management processes and policies. Among them, Stephen Lewis, co-director of AIDS-Free World, and former special envoy to the UN Secretary-General Kofi Annan, delivered a stirring talk about the AIDS crisis in Africa and the […]
In an effort to recruit new talent into the risk management industry, Aon hosted its third annual Risk Tournament as part of the RIMS Canada Conference. Sixty-six students participated in the preliminary tournament played at the University of Toronto on Sept. 19. In the final round play-off, held at the conference, David Lu won the […]
Standard & Poor’s has distinguished between other-than-temporary-impairments (OTTI) and fixed maturity portfolios when gauging the potential impact of unrealized losses on insurers’ financial and credit ratings.The recognition of OTTIs is more likely to signal a true economic loss and result in negative rating actions, the ratings agency notes. On the other hand, in fixed-maturity portfolios, […]
By Canadian Underwriter | October 31, 2008
2 min read
Fairfax Financial Holdings Limited (TSX: FFH) reported a 2008 Q3 net profit of US$467.6 million, an increase from 2007 Q3’s profit of US$253.2 million.These Q3 results include net gains on investments of US$856.8 million and US$274.6 million of net catastrophe losses, a Fairfax release says.Investment gains, the company reported, were based on a net gain […]
RIBO has issued a bulletin advising Ontario brokers that they still need to maintain financial records for both trust and general accounts, even though the banking industry has moved into the paperless world of electronic record-keeping.”It has come to our attention that the banking industry will no longer provide printed bank statements and cashed cheques […]
European insurers lead their North American counterparts in using economic capital (EC) to guide their risk-based decision-making, a Towers Perrin study shows.”European insurers are giving greater short-term priority to the use of EC within their decision making processes (56%), compared to their brethren in North America (40%) and in the Asia/Pacific region (38%),” Towers Perrin […]
Claims
The Hartford Financial Services Group Inc. (NYSE: HIG) has reported a 2008 Q3 net loss of US$2.6 billion, compared to a 2007 Q3 profit of US$851 million.”This was an extremely difficult quarter for the company,” Ramani Ayer, The Hartford’s chairman and CEO, said in a press release. “Volatile credit and equity markets and the largest […]
By Canadian Underwriter | October 30, 2008
Pricing in the property and casualty commercial specialty lines continues to soften in spite of damages wrought by Hurricane Ike and recent market turmoil, attendees of an A.M. Best Webinar heard.Anthony Markel, vice chairman of the Markel Insurance Group, sat on the panel of speakers participating in the Webinar, ‘Insurance Producers and Today’s Specialty Insurance […]
Ontario’s Court of Appeal has determined that a restrictive covenant in a brokerage’s employment contract was unenforceable and ‘overboard,’ overturning a ruling to the contrary by the Ontario Superior Court.In Staebler Company Ltd. v. Allan, Tim Allan and Jeff Kienapple were commercial insurance producers with H.L. Staebler Company Ltd as of Oct. 15, 2003 when […]
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.
