Industry
Marsh & McLennan Companies, Inc., is facing charges of bid-rigging in a civil lawsuit recently filed by Florida’s Attorney General Charile Crist. In the suit, Crist alleges that Marsh & McLenan illegally manipulated insurance markets to obtain improper commissions and engaged in bid-rigging. In a joint action, the Attorney General’s Office and the Department of […]
By Canadian Underwriter | March 15, 2006
2 min read
Claims
Converium Holding AG has seen a profitable year, reporting a net profit of US$68.7 million for 2005 following a reported loss of US$582.5 million for 2004.Weather-related losses including hurricanes Katrina, Rita and Wilma as well as the European floods, and winter storm Erwin contributed to a pre-tax loss of US$164.8 million. While the severe claims […]
1 min read
Risk
The Canadian Trucking Alliance recently called upon the country’s provincial governments to take action on the problem of speeding trucks. The Alliance, a federation of Canada’s provincial trucking associations, has endorsed a national policy to pass a law making it mandatory that speed limiters on all trucks operating in, out and within a Canadian province […]
By Canadian Underwriter | March 14, 2006
Home
Marshall & Swift / Boeckh and Cornerstone Appraisal Services recently partnered to form a “strategic business alliance.” This partnership is intended to utilize the strengths of both organizations to deliver high value inspection and valuation services to the property and casualty industry. A provider of high value insurance inspections and inspection technology for insurance carriers, […]
A new task force of the National Association of Insurance Commissioners in the United States is working to increase awareness of climate change in the industry, A.M. Best reports.Nebraska Insurance Commissioner Tim Wagner, co-head of the task force, notes the group is starting up at a time when climate change is a leading concern of […]
In its anniversary year, with a stable premium base, the Munich Re Group achieved a record profit in 2005 of over EUR2.7 billion (CDN$3.75 billion).”We have thus slightly exceeded our target,” Nikolaus von Bomhard, chairman of the board of management, said when presenting the figures. “Our solid basic business makes the achieved level of profitability […]
A D&O liability market recovery is far from certain, and underwriters will need to allocate their capital wisely to stay in the business, panelists told a symposium of the Professional Liability Underwriting Society (PLUS).PLUS is an international, non-profit association with chapters in the United States, England and Canada and has more than 6,000 members worldwide. […]
By Canadian Underwriter | March 13, 2006
Willis Group Holdings (NYSE: WSH) has appointed of three new members to the Canadian Advisory Board of Willis Canada Inc. Robert Hogan, D. Udo Nixdorf, and Bernard R. Wilson will join Willis Canada as senior members and advisors. Hogan, LL.M. (Tax); LL.B., is currently a partner in the Montreal office of Stikeman Elliott, LLP and […]
The U.S. National Association of Insurance Commissioners (NAIC) recently agreed to establish a task force examining the impact of climate change on the insurance industry and consumers. The force will focus in on how the warming climate may affect insurance availability and affordability as well as the financial health of insurers. Necessary actions enabling state […]
After raising a record $20,300 at last year’s ING Ottawa Marathon, WICC and ING are once again teaming up again at the 2006 ING Ottawa Marathon.The duo challenges brokers, employees and industry members to form teams and run or walk in an event and collect pledges for cancer research. Events include a 2K, 5K, 10K, […]
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