Industry
American International Group Inc. (AIG) may need to sell more than half of its businesses, and the most coveted of its properties could be its international life businesses and the domestic retirement unit, according to Reuters, citing a Credit Suisse report to investors.The U.S. Federal Reserve loaned AIG US$85 billion last week, prompting widespread speculation […]
By Canadian Underwriter | September 23, 2008
2 min read
Claims
When faced with a crisis endangering a company’s reputation, it is vital for the spokesperson of that organization to immediately express empathy and then stress what the organization is doing at that moment to investigate and remedy the situation. The wisdom came courtesy of Lorne Honickman, partner at McCague Peacock Borlack McInnis & Lloyd LLP, […]
Good environmental policy is identical to good economic policy, Robert F. Kennedy Jr. told delegates attending the 33rd Annual Risk and Insurance Management Society (RIMS) Canada Conference in Toronto.He suggested de-carbonizing a society quickly would lead to greater efficiency, more innovation and increased opportunity for entrepreneurship, rather than cause economic difficulties as many sceptics suggest.”Today […]
1 min read
The recent global financial services turmoil may produce opportunities for risk managers to have their voices heard within the upper echelons of their organizations, a panel of international risk managers told delegates attending the 33rd Annual Risk and Insurance Management Society (RIMS) Canada Conference in Toronto.”We all know that there are two theories of risk […]
By Canadian Underwriter | September 22, 2008
Following the U.S. Federal Reserve’s US$85-billion bailout of the American International Group Inc., the International Association of Insurance Supervisors (IAIS) says it is “taking steps to intensify supervisory coordination efforts in response to the current financial market turmoil.”Key insurance supervisors from around the globe were recently updated on matters relating to American International Group (AIG) […]
The RIMS Ontario Chapter named George Simpson, senior manager of risk management and insurance of EPCOR Utilities Inc., as the 2008 recipient of the Donald M. Stuart Award. The award was presented at the 33rd Annual Risk and Insurance Management Society (RIMS) Canada Conference in Toronto. It was created in 1979 to recognize a Canadian […]
At least US$1 trillion will be used to bail out the major capitalist financial structures of the United States of America because of a complete contempt for regulation and the absence of intuitive discernment on the part of risk managers, according to Stephen Lewis, former leader of the NDP and special envoy UN Secretary-General Kofi […]
Space insurers earned approximately US$411 million in premium in the first two quarters of 2008, putting the market in a profitable position with US$252 million in reported claims. However, five additional in-orbit failures, mean insurers will perceive market volatility persisting through the end of the year, Aon notes in a release. The failures include partial […]
By Canadian Underwriter | September 19, 2008
Plant Hope Adjusters continues to grow in Atlantic Canada and has recently opened its eighth office in the region, this one in Grand Falls, NB. Lise Frenette, whose career has spanned 22 years, has been appointed branch manager of the new office. Stephen LeBlanc, who began his adjusting career in 1981 and has been with […]
Ontario’s Superior Court has dismissed a defendant’s motion to file an amended Statement of Claim, serve a jury notice and adjourn a three-week trial fixed to commence Sept. 22, 2008.The action arises out of a motor vehicle accident that occurred in March 2003. The Statement of Claim was issued in March 2005. It alleges that […]
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