Claims
Risk Management Solutions (RMS) has designed a trigger mechanism and performed the risk analysis for a Swiss Re securitization of typhoon risk in Japan. A Cayman Islands special purpose vehicle, Akibare Ltd. has provided collateralized coverage of $120 million over five years for Mitsui Sumitomo Insurance Co. Ltd. We believe that this transaction illustrates how […]
By Canadian Underwriter | May 22, 2007
1 min read
There is a 75% chance the 2007 hurricane season will be above normal, according to the NOAA [National Oceanic & Atmospheric Administration].An average season is one in which there are 11 storms, six of which become hurricanes and two of which become major [Category 3-5] hurricanes. For the 2007 Atlantic hurricane season, scientists predict 13 […]
2 min read
Risk
Marsh Inc. announced the launch of a dedicated renewable energy team, and named Susan K. Stokes and Tom Sexton as its co-leaders. The team will work closely with the firms global marine and energy practice and the power and utilities industry practice to help clients address and find upside in the wide range of risks […]
Industry
London market businesses must continue to modernize and improve customer service levels, Lloyds CEO Richard Ward recently told a meeting of senior market figures.In a speech at the London Insurance Day Summit, Ward said that modernization was vital to the future of the London market.It is time that we in the London market accept that […]
The Insurance Brokers Association of Ontario (IBAO) is sponsoring radio messages in 23 cities and on the airways of 32 radio stations across Ontario during the holiday long weekend in May.The insurance brokers have purchased these radio spots in an effort to help spread the Ontario Students Against Impaired Driving (OSAID) message of driving responsibly. […]
By Canadian Underwriter | May 18, 2007
Home
The B.C. government has capped at Cdn$1 million the vicarious liability car rental companies and by extension, their insurers face for accidents and damages caused by customers who rent vehicles.Currently, car rental companies face unlimited liability for accidents and damages caused by their customers, the B.C.s attorney general said in a press release. Changes will […]
The Autorit des marches financiers (AMF) has imposed new registration conditions on the brokerage firm Centre de courtage Assep inc. The firm is required to replace its officer in charge, Martin Beaul, and to provide AMF, within 5 days after its proposed decision, the name of the officer in charge it intends to appoint to […]
SGI has pledged an annual donation of $200,000 to the Regina QuAppelle Health Region (RQHR) for the Sleep Disorders Program at the Regina General Hospital. The program serves to diagnose and treat patients with sleep disorders — the most common of which is sleep apnea, a cause of excessive daytime sleepiness. Sleep apnea is a […]
Traditional or legacy reinsurers, those who have been in the business a long time, are confronting a recent sea change in reinsurance philosophy, according to the senior vice president and chief agent in Canada for the Toa Reinsurance Company of America, David Wilmot.I see a perfect storm, in which the industry, relying as it is […]
By Canadian Underwriter | May 17, 2007
Robin Spencer has been appointed president and CEO of Aviva Canada Inc., effective July 12, 2007.Spencer is currently the executive vice president and chief financial officer with Aviva Canada Inc. Robins accomplishments, experience and ability to drive organizational success will be a real asset to the Aviva Canada team, said Tom Godlasky, chief executive of […]
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