Claims
The Intergovernmental Panel on Climate Change (IPCC)’s fourth assessment report on climate change have debunked myths and confirmed Swiss Re’s view that human activity is a major contributor to climate change.Ivo Menzinger, Swiss Re’s head of sustainability, held a conference call to discuss the key findings of the report and its implications.Menzinger said that the […]
By Canadian Underwriter | February 2, 2007
2 min read
Industry
The Toronto Insurance Women’s Association (TIWA) is mourning the passing of Pauline Ferguson, its historian, on Feb. 1, 2007.”She will be missed,” TIWA said of Ferguson in a public statement. “We extend our sympathies to Ted, her husband.”Visitation will occur at the Morley Bedford Funeral Services on Sunday, Feb. 4, between 2:00 p.m. and 4:00 […]
1 min read
The AXA Group reported its global property and casualty revenues were up 4% in 2006.”Property and casualty revenues increased by 4% to EUR19.793 billion [about Cdn$30.4 billion],” AXA reported in a press release. “Personal lines were up 5% resulting from a combination of strong resilience in most European countries and positive momentum elsewhere. “Commercial lines […]
Allstate Insurance Company of Canada intends to reduce auto insurance rates in Nova Scotia on average by 12% in 2007.”Every Allstate policyholder in Nova Scotia with full coverage will see his or her premiums go down in 2007,” Allstate vice president Christianne Dostie said in a press release. “Allstate is committed to offering a high-quality […]
SGI is returning $100 million to its customers through a rebate on their 2006 auto insurance premiums. In addition, SGI has applied to the Saskatchewan Rate Review Panel for a general rate reduction of five per cent with rate rebalancing, which would mean more than half of SGI customers will be paying less for their […]
Risk
Hub International Limited (NYSE: HBG) (TSX: HBG) has continued its penetration of the transportation insurance market, acquiring New Jersey-based Bart Proud Insurance (Proud). Proud, with US$3 million in revenue, has entered into a definitive purchase agreement with Hub International Pennsylvania (HUB Pennsylvania). “The proposed transaction will support Hub International’s initiative to expand its transportation insurance […]
By Canadian Underwriter | February 1, 2007
The U.K.’s Financial Services Authority (FSA) noted in its Financial Risk Outlook (FRO) that mounting risks will likely upset the relatively stable global economy, prompting firms to perform stress tests now, rather than waiting for disaster to strike.While the FSA’s overall outlook for the global economy continues to be benign, the FRO identifies an increasing […]
Marsh & McLennan Companies, Inc. (MMC) has announced the sale of Putnam Investments to Great-West Lifeco Inc., a financial services holding company controlled by Canada-based Power Financial Corporation, for US$3.9 billion in cash.Putnam Investments is a global money management firm with about 3,000 employees and more than 68 years of investment experience. It had US$192 […]
February is Auto Crime Enforcement Month in British Columbia and the provincial government police, and ICBC are working together to reduce auto crime. Auto theft is linked to almost every other common crime, such as break and enters, mail theft, purse snatching and armed robbery. Drug addicted car thieves steal vehicles to help them commit […]
The overall level of global political risk decreased in 2006, but the magnitude and complexity of risks facing companies around the world has increased, according to Aon’s Political & Economic Risk Map. The risk map surveyed 214 countries; of these, 15 countries posed less of a risk in 2007 compared to 2006, marking the first […]
January 31, 2007
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