Risk
The Reinsurance Association of America (RAA) commends the President’s Working Group (PWG) on Financial Markets for its Terrorism Risk Insurance report and its contribution to the assessment of the private terrorism insurance market. The RAA says the report builds on the numerous important databases in both the public and private sectors addressing the insurability of […]
By Canadian Underwriter | October 5, 2006
2 min read
Industry
Aside from service, social responsibility and management are the factors which make trusted, individual insurance companies stand out from the industry as a whole, according to a new Ipsos survey of insurance company reputations.”We found that the best performers are both market leaders and smaller companies that occupy a niche,” Nicolas Boyon, a senior vice […]
ING Insurance has launched a new insurance product that will provide consumers with financial and legal support against identity theft. Victims of identity theft who have suffered losses due to the fraudulent obtainment and use of their credit card, social insurance number, driver’s license or other personal information will received protection and support from ING’s […]
By Canadian Underwriter | October 4, 2006
American International Group (AIG) Global Marine, a division of AIG Inc.’s P&C insurance subsidiaries, has purchased Arch Insurance Co.’s U.S. ocean marine business.Under the agreement, which is effective immediately, AIG’s marine unit will service Arch’s U.S. marine portfolio.Richard Decker, president of AIG Global Marine, says the Company is looking forward to adding the Arch U.S. […]
1 min read
Markel Insurance Co. of Canada has launched an online endorsement processing service for Markel insurance brokers servicing the Canadian trucking industry. Silvy Wright, president and CEO of Markel explains that mid-term endorsements are a time-consuming endeavor for brokers. “Our answer to this is Markel EZEndorse,” Wright says. The Web-based tool helps all brokers, even those […]
A.M. Best Co. has affirmed an A+ (Superior) financial stability rating for Canadian property and casualty insurer Wawanesa Mutual Insurance Co.According to A.M. Best’s report, Wawanesa’s A+ (Superior) rating for 2006 is based on its “superior level of capitalization, strong balance sheet, above average liquidity, profitable operating performance, and leading market position in the Canadian […]
Claims
The family and friends of a 21-year-old rugby star, Sean Corner, is holding a benefit event to raise funds after the star player was paralyzed from the waist down during a rugby match in September.Corner was studying insurance at Mohawk College in Hamilton and started work at Economical Insurance in May. He was injured when […]
By Canadian Underwriter | October 3, 2006
The Co-operators has pledged $5,000 to Tree Canada to assist with tree planting efforts following the damage caused by an F2 tornado that touched down near Ottawa on Aug. 2.The amount is in addition to the claims The Co-operators handled when the tornado ripped through the Madawaska Valley, causing extensive damage to the nearby town […]
Home
The Insurance Institute has launched a new national consumer print campaign to promote Chartered Insurance Professionals (CIP), which will first appear in “Canadian Business” magazine on October 8, 2006. The Institute says the new campaign also recognizes the importance of property and auto insurance by staging a concerted effort in “CAA Magazine,” “Cottage Life,” “Reader’s […]
The US President’s Working Group (PWG) on Financial Markets has submitted its report on terrorism risk insurance that does not endorse an extension of the federal terrorism insurance financial backstop created by the Terrorism Risk Insurance Act (TRIA) in 2002. In a cover letter to the report Treasury Secretary Henry Paulson says TRIA has supported […]
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