Risk
A.M. Best Co. has affirmed the financial strength rating of A+ (Superior) and the issuer credit rating of “aa-” of The Toa Reinsurance Company, Ltd.The ratings agency says Tao’s ratings, which both have a negative outlook, reflect the reinsurers “strengthened capitalization, solid presence in the Japanese market and sound asset portfolio. “”Toa Re has a […]
By Canadian Underwriter | September 18, 2006
1 min read
WICC (Women In Insurance Cancer Crusade) Ontario Chapter is hosting its 9th Annual “Breakfast for Breast Cancer” on Nov. 1, 2006.The breakfast will be held at the Arcadian Court, located on 401 Bay Street in Toronto.The guest speaker will be Susan Minns, a humourist and motivational speaker. Minns, who has Multiple Sclerosis and survived cancer, […]
2 min read
Risk managers must focus more often on presenting to company management the opportunities and rewards of taking risks if they want the risk management profession to thrive in the future, panelists told people attending the RIMS Canada Conference Calgary Summit 2006.Panelist Felix Kloman of Risk Management Reports said if corporate managers hear only from their […]
Industry
AFN Insurance Brokers Inc. (AFN) has partnered with CINUP, a division of the Rice Financial Group Inc. (a subsidiary of Jovian Capital Corporation (JVN:TSX-V)) to offer a convenient one-stop insurance solution to serve the distinct needs of Canada’s First Nations peoples.AFN is a broker exclusively serving First Nations peoples and their public-entity (i.e.commercial/property casualty) insurance […]
By Canadian Underwriter | September 15, 2006
A recent boardroom-spying incident at Hewlett-Packard Co. is putting a spotlight on “pretexting,” the latest scandalous corporate behavior to put providers of directors and officers (D&O) insurance on alert, according to an article published by A.M. Best.According to the Sept. 18 issue of BestWeek, Hewlitt-Packard admitted that on the orders of its chairman, Patricia Dunn, […]
ESIS, a risk management services company, has opened an office in Toronto under the name ESIS Canada, Inc. ESIS Canada will offer clients in the United States and Canada access to claims management and a wide range of risk control programs.Organized in 1953, ESIS is part of the ACE Group of Companies, headed by ACE […]
Co-operators General Insurance Company is undergoing a number of changes to its senior management team, as three of its members are moving on to retirement.The senior management team oversees all of the companies in The Co-operators group of companies.Dan Thornton, senior vice president and chief operating officer of Co-operators Life Insurance Company, sister company to […]
By Canadian Underwriter | September 14, 2006
Claims
ICBC has obtained a conviction in B.C.’s provincial court for a fraud scheme in which a claimant produced fraudulent tax returns to support the receipt of exaggerated payments for lost wages following a car accident.Alen Melki of Burnaby, B.C. was charged and convicted through trial of two counts of uttering forged documents, an offence under […]
Following a review of its businesses, Norwich Union, a subsidiary of Aviva and the U.K.’s largest insurer, is poised to reduce its U.K. workforce by 4,000 prior to the end of 2007.”Approximately half of [the workforce reductions] are anticipated to be through compulsory redundancies,” the company announced in a press release. “Norwich Union will seek […]
The Dominion of Canada General Insurance Company (“The Dominion”) is now automatically including up to $25,000 of identity fraud expense coverage in its and Chieftain’s homeowners, tenants and condominium policies, subject to a $250 deductible.The Dominion announced it is not charging any additional premium for this coverage.”We chose to include this coverage rather than charge […]
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