Risk
After seven devastating hurricanes spun into the United States between 2004 and 2005, there appeared to be widespread surprise at the significant discrepancies between actual and modelled losses. The first reaction was to condemn the models. But when companies compared the data they had entered into the models with what they had actually been insuring, […]
By Matthew Grant, Chief Markets Officer, Risk Management Solutions | February 29, 2008
4 min read
Companies that recognize and plan for risks can maximize business opportunities in China
By Stephen Charnley, Managing Director, Asia Client Services, Marsh Canada Limited | February 29, 2008
9 min read
A comprehensive risk analysis at the start of an insurance purchase will make the risk manager a driver in the process, not a passenger
By Cees Van Der Slikke, Executive Vice President, Managing Partner, Willis Energy Calgary | February 29, 2008
5 min read
Keal Technology and PowerSoft jointly confirmed the completion of an integration project announced at the end of 2007. The integration partnership allows Keal’s clients using sigXP, a broker management system (BMS) for personal lines, to integrate with PowerSoft’s rating tool, PowerQuote, for personal lines insurance rating, quoting and prospecting. “Integrating sigXP and PowerQuote provides our […]
February 29, 2008
7 min read
Home
The CIP Society, a division of The Insurance Institute of Canada, has named Jack Lee, vice president and national marketing manager of BFL Canada, the 2007 recipient of the Greater Toronto Area Fellow of Distinction Award. “Jack has been a mentor and role model for countless people in his more than 40 years as an […]
6 min read
Claims
In order to respond to the rising costs of climate change-related damages, insurance companies are going to have to focus more on micro-solutions (i.e. on a policyholder-by-policyholder basis), Colin Empke, partner at Blaney McMurtry LLP, told delegates at the Canadian Defence Lawyers 4th annual insurance coverage symposium in Toronto on Feb. 28. Empke was speaking […]
By Canadian Underwriter | February 29, 2008
1 min read
Swiss Re has reported a net income of CHF4.2 billion (about Cdn$3.96 billion) for 2007, down 9% from 2006, but nevertheless the second-best result in the company’s history.”Driven by an outstanding performance across our key businesses, we delivered the second-best result in Swiss Re’s 144-year-history,” Swiss Re CEO Jacques Aigrain said in a press release. […]
Industry
The additional insured endorsement is a poorly understood concept among insurance professionals and lawyers, Stephen Cavanagh, senior partner at Cavanagh Williams, told delegates at the Canadian Defence Lawyers 4th annual insurance coverage symposium in Toronto on Feb. 28. Often insurers will take on risks arising from a business operation that is entirely separate from that […]
American International Group, Inc. (AIG) reported loss of US$5.3 billion for 2007 Q4, and a net income of US$6.2 billion for the full year 2007, representing a 55.9% decrease over the prior year.In 2006 Q4, AIG reported a profit of US$3.4 billion. “The 2007 other-than-temporary impairment charges resulted primarily from the significant, rapid declines in […]
Commercial General Liability (CGL) policies were not drafted with construction in mind, Neo Tuytel, senior partner with Clark Wilson LLP, told delegates at the 4th annual Insurance Coverage Symposium in Toronto on Feb. 28. However, questions surrounding coverage and exclusions, as they pertain to contractors and subcontractors mainly surrounding the “work” and “product” exclusions have […]
By Canadian Underwriter | February 28, 2008
2 min read
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