Risk
The world’s largest businesses are not prepared for the effects of a looming water shortage, according to research sponsored by the newly-established Marsh Center for Risk Insights. Marsh Inc., a global insurance broker and risk advisor, formed the Marsh Center for Risk Insights as a working forum for experts to identify, debate and tackle critical […]
September 30, 2007
1 min read
Out of 241 global insurers and reinsurers ranked in Standard & Poor’s (S&P’s) first enterprise risk management (ERM) scorecard, 81% of insurers and reinsurers received an “adequate” ranking for their ERM programs in 2006, whereas only 3% received an “excellent.” Thirty-eight per cent of the companies surveyed received a grade of strong (35%) or excellent […]
Industry
In its annual review of the worldwide catastrophe insurance market, reinsurance intermediary Guy Carpenter & Company notes 2007 global reinsurance rates decreased 2%, compared to a 32% increase in 2006. “The hurricanes of 2005 had no obvious impact on Canadian markets,” the report says. “However, as many of the reinsurers operating in Canada are branches […]
Representatives of the Canadian reinsurance market assured delegates of the A.M. Best Canadian conference that their Canadian branches are here to stay, despite recent changes to the Insurance Companies Act contained in Bill C-37. Changes to Part 13 of the act address whether reinsurers must to report to the federal regulator, the Office of the […]
With the Bank Act issue officially retired as of early this year (for another five years, at least), the Insurance Brokers Association of Canada (IBAC) is now setting its sights on what brokers do when they choose to retire. Specifically, IBAC’s new president, Danny Craig, told delegates at the association’s 2007 annual general meeting in […]
Risk managers must be aware of the political ramifications in implementing an enterprise risk management [ERM] program, Susan Witcraft, managing director of Guy Carpenter & Company LLC’s Instrat Team, Mid-America Region, told attendees of Guy Carpenter’s ERM seminar in Toronto. When developing and implementing an ERM program, four areas need to be considered: politics, organization, […]
Crawford & Company (Canada) Inc. held its 13th annual Crawford Classic charity golf tournament on Sept. 12, 2007, at the Royal Ontario Golf Club. Golfing during unseasonably cold weather has become somewhat of a Crawford tradition. This year was no different, as clients and employees braved the temperature to raise more than Cdn$10,000 for Crawford […]
In response to the aggressive marketing approaches of online and direct writers, the independent channel is planning to be more aggressive about promoting its advisory role to the public.
By David Gambrill | September 30, 2007
15 min read
Rodney Hancock, IBAO incoming president, has a long road ahead of him to tackle issues of brokerage ownership and succession, but he's confident that in the coming year the association will be well on its way.
By Vanessa Mariga | September 30, 2007
6 min read
Risk managers are increasingly selecting their brokers through a formalized procurement process that must be done properly in order to keep it from becoming a glorified "beauty pageant"
By Craig Harris | September 30, 2007
10 min read
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