Claims
Sharing risk knowledge, forming public-private partnerships, using information technology and partnering for distribution and consumer education are all means insurers can use to implement a campaign of proactive engagement in sustainable insurance, according to a report released by the Insurance Working Group of the United Nations Environment Programme Finance Initiative. A robust insurance industry provides […]
By Canadian Underwriter | May 25, 2007
1 min read
The calm 2006 storm season showered benefits on Bermuda insurers, but A.M. Best is warning that last years strong performance has set the stage for increased pressure on rates as a whole.In its 2007 Special Report: Bermuda 12-Month Financial Review, A.M. Best reported a 2006 combined ratio of 83.7, compared with a catastrophic combined ratio […]
In an attempt to better prepare all countries in the case of an influenza pandemic, the World Health Organization (WHO) has reached an agreement that encourages international cooperation to ensure equal access to H5N1 vaccines and other pandemic vaccines. The World Health Assembly (WHA) wrapped up its sixtieth session yesterday, after adopting the resolution, Sharing […]
By Canadian Underwriter | May 24, 2007
SCOR Reinsurance has served notice that it intends to take to arbitration a recent US$2-billion settlement that was designed to bring an end to the six-year legal battle between seven insurers and the leaseholder of the World Trade Centre over the value of the insurance policies covering the centre.New York Governor Eliot Spitzer and Insurance […]
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Risk
On average, a U.S. enterprise-wide risk management professional earns an annual salary of US$130,997, according to The Risk and Insurance Management Society Inc. (RIMS)s 2007 Risk Management Compensation Survey.The survey presents base salary and incentive data for 12 industry-specific jobs, categorized by company size (full time employees and annual revenues), risk management department size, industry […]
Industry
Rose Adams has been appointed to branch manager of Crawford & Companys (Canada) Medicine Hat branch effective June 18, 2007. Rose has made a tremendous contribution to the company since joining us, Walter Waugh, vice president of operations for Prairies, said in a release. Her technical skills, commitment to customer service and industry experience will […]
Barriers to addressing insurance fraud include insufficient risk management, commercial interests and public attitudes about fraud, according to findings in Report on the survey on preventing, detecting and remedying fraud in insurance, issued by the International Association of Insurance Supervisors (IAIS). On the last [survey] question [of more than 100 respondents], on the problems that […]
By Canadian Underwriter | May 23, 2007
PPG Canada Inc. has announced that Lee Smith, director of Refinish Canada, will be moving to Strongsville, Ohio, where he will start in his new position as director of strategic growth and acquisition for PPG Automotive Refinish, North America. Smith will move into his new role effective June 1, 2007. In his new position, he […]
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The Insurance Bureau of Canada (IBC) has appointed Michael J. Donoghue, the president and CEO of the Allstate Insurance Company of Canada, as the chair of its board of directors.Rowan Saunders, the president and CEO of Royal & SunAlliance Canada, has been appointed deputy chair of the IBCs board.Donoghue is a vice president of the […]
Timmins, Ontario will have a Collision Reporting Centre by the end of July 2007.Located in northeastern Ontario, the City of Timmins has a population of about 44,000 people.Accident Support Services Ltd., which facilitates collision reporting to the insurance industry, has announced that on July 30, 2007 it will open a collision reporting center in partnership […]
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