Risk
The Canadian team at Willis Group Holdings has appointed Joe Beesack as the senior vice-president of its alternative risk solutions practice. Beesack’s focus will be on loss forecasting, deductible optimization, risk modeling, captive assessment and feasibility studies. His area of specialization includes the development of computerized applications that reflect the complexities of sophisticated risk financing […]
By Canadian Underwriter | December 7, 2006
2 min read
Claims
A return to high hurricane activity in 2007 will likely follow the below-average 2006 hurricane season, according to climate forecaster Tropical Storm Risk (TSR).TSR says a 76% likelihood exists that U.S. land-falling hurricane activity in 2007 will fall among the top one-third of years historically.The study was led by the Benfield UCL Hazard Research Centre […]
Industry
S.i. Systems Ltd. completed its acquisition of Genex Systems Professionals Group, a Toronto-based information technology consulting and staffing firm serving the insurance and banking industries.Derek Bullen, CEO of S.i. Systems, said, “The combination of Genex and S.i. Systems Ltd. is a good business model for further growth of our staffing services into the banking and […]
1 min read
U.K. insurers have improved their risk management practices since 2003, but they still have a lot of work to do, according to the U.K. insurance industry’s regulator, the Financial Services Authority (FSA).The FSA’s most recent report, Insurance Sector Briefing: Risk Management in Insurers, is a study undertaken this year as a follow-up to the FSA’s […]
Desjardins Financial Security is changing the name of the entities of its financial products and services distribution networks in Canada. The 20 LFS Laurentian Financial Services centres that distribute insurance and savings products through nearly 450 representatives will be doing business under the name “Desjardins Financial Security Independent Network.” In addition, Optifund Investments Inc., the […]
By Canadian Underwriter | December 6, 2006
While the costs of liability coverage have been dropping, businesses on average have maintained their level of coverage, says a global study by Marsh Inc.The study surveyed 7,196 companies 562 of which were Canadian — in 53 countries. Findings are based on insurance-purchasing decisions made during the 12-month period ending Mar. 31, 2006, says a […]
HKMB International Insurance Brokers, a privately held commercial insurance broker, has entered into an agreement to acquire the Toronto and Vancouver operations of Morris & Mackenzie Inc.HKMB hopes to integrate both offices into its own during 2007 Q1.”The acquisition of Morris & Mackenzie’s Toronto office builds on our well-established foundation with that market,” said HKMB […]
Canadian and Bermudian insurers are more likely than their U.S. or Asian/Pacific counterparts to deliver quarterly reports on risk to their boards, according to a study by Tillinghast of Towers Perrin.The study is Tillinghast’s fourth biennial survey of risk and capital management practices among insurers worldwide.The 2006 study focuses on a number of issues including […]
The Co-Operators has formed a cross-company committee to address concerns about insurance availability, affordability, volatility and accessibility facing the country’s non-profit and voluntary sectors.It created the committee following a 2004 advisory panel in Moncton, NB, in which community leaders raised the question of insurance for volunteer groups with company representatives, The Co-Operators says in a […]
By Canadian Underwriter | December 5, 2006
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