Risk
Computer-based risks, foreign trade and corporate governance are the leading corporate risks of 2006, a Swiss Re study has found.The survey polled senior executives in six large, industrial countries including France, Germany, Italy, Japan, the U.K. and the U.S. The results were presented recently at the World Economic Forum’s Annual Meeting.The study found that, while […]
By Canadian Underwriter | January 27, 2006
2 min read
Industry
The Co-operators has donated $20,000 over two years to CanDRIVE, a research program dedicated to improving road safety for seniors.CanDRIVE will use the funding to create The Co-operators Aging and Driving Fellowship to support graduate students’ research on older driver assessment tools. “This research will ultimately improve the health, safety and independence of older drivers […]
EGI Financial Holdings Inc. (TSX:EFH) recently completed the restructuring of its treaty reinsurance coverage’s for 2006 in a manner consistent with the general plan previously disclosed. EGI Financial, as enabled by its greater capital resources, did not renew its quota share reinsurance treaty in 2006 and, in a change from prior years, withdrew the portfolio […]
By Canadian Underwriter | January 26, 2006
Claims
Insured property losses resulting from catastrophes in 2005 will deliver U.S. P&C insurers with a ‘bill’ of around US$56.8 billion, according to the property claim services unit at Insurance Services Office Inc. (PCS).This amount represents two times the recorded figure of insured property losses resulting from catastrophes in 2004 US$27.3 billion. A total of 24 […]
1 min read
Good business in Canada helped to increase AXA’s 2005 property and casualty revenues by 3%, AXA CEO Henri de Castries recently reported on the company’s Web site.”Property and casualty revenues increased by 3%, to EUR18.8 million, mainly driven by France and Southern Europe,” de Castries reported. “Growth slightly accelerated in [the fourth quarter of 2005], […]
Norwich Union, the U.K.’s largest insurer and part of Aviva P.L.C., has welcomed a U.K. Court of Appeal judgment that no longer allows compensation for pleural plaque claims arising from asbestos exposure in the workplace.It is estimated the decision may prevent more than 100,000 court cases involving pleural plaques or pleural thickenings being brought in […]
The Board of Directors of Ontario-based Pethealth Inc. (TSX VENTURE:PTZ) recently declared a dividend of $0.12 per series I 6% convertible preference shares that are payable on Jan. 31, 2006 to the holders of record at the close of business on Jan. 20, 2006.By way of private placement on Jan. 21, 2004, Pethealth issued 5,000,000 […]
By Canadian Underwriter | January 25, 2006
Third party property casualty administrator for workers’ compensation and general liability claims, Specialty Risk Services, LLC (SRS), has incited a new claims administration agreement and partnership with Arch Insurance Group. Under the terms of the agreement, Arch will utilize SRS’ claims management expertise to service property and casualty insurance programs underwritten by Arch. The arrangement […]
The Ontario government is working on the first of four new Pre-approved Framework (PAF) Guidelines for treatment of auto accident injuries under the Statutory Accident Benefits Schedule.”The new PAF Guidelines will help people who have been injured in auto accidents to receive early and effective treatment,” the Financial Services Commission of Ontario (FSCO) posted on […]
EGI Financial Holdings Inc. (TSX:EFH) has completed a plan to restructure its treaty reinsurance coverages for 2006.Enabled by its greater capital resources, EGI Financial did not renew its quota share reinsurance treaty in 2006. In a change from prior years, it withdrew the portfolio of unexpired risks from its 2005 quota share treaty, at no […]
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