Industry
The board of directors of the French reinsurer SCOR recently announced that premium income linked to non-life and credit & surety treaties, up for renewal on January 1, 2006, is up 25 %.These renewals relate to around 80% of the Company’s worldwide non-life and credit & surety reinsurance treaties, SCOR reports. The Company says it […]
By Canadian Underwriter | January 12, 2006
1 min read
Claims
Many insurance companies were ill-equipped in their response to Hurricane Katrina, exhibiting patterns of callousness, unfairness, and generally inept performance, according to a report recently released by the Americans for Insurance Reform (AIR), which is a coalition of public interest groups and a project of the Center for Justice & Democracy, . The report “The […]
2 min read
CGI Group Inc. (TSX: GIB.SV.A; NYSE: GIB) and BCE Inc. (TSX, NYSE: BCE) have finalized a transaction previously announced on Dec. 16, 2005 in which CGI agreed to purchase for cancellation 100 million shares currently held by BCE at a price of $8.5923 per share. CGI, which provides IT services to various business sectors, including […]
Despite unprecedented industry losses in 2004 and 2005, Benfield Group Limited is forecasting a more encouraging financial outlook for 2006 than previously expected.”The full impact of the unprecedented losses of 2004 and 2005, like that of previous major losses, will emerge over the next 12 to 18 months,” Benfield announced in a release. “Despite the […]
Risk
RiskProNet International, a network of 29 leading independent insurance brokers throughout the United States and Canada, recently announced that the president for 2006 will be Scott Drew, vice president of Associated Financial Group in Minnetonka, Minn.Drew was previously vice president of CFG Insurance Services, which was acquired by Associated Bank in 2003. Associated bank subsequently […]
By Canadian Underwriter | January 11, 2006
The Financial Services Commission of Ontario (FSCO) is reminding insurers that any changes to rates and risk classification systems, including territory definitions, must be filed with and approved by FSCO, notwithstanding recent postal code changes made by Canada Post.”To reflect increases to the population of certain areas over time, Canada Post, using a process it […]
Demand for political risk coverage will increase in 2006, Aon predicts, based on trends identified in the company’s Political and Economic Risk Map. Published recently, Aon’s map suggests political interference poses the greatest threat to global businesses, followed by legal and regulatory issues and sovereign non-payment.The map includes recent examples of supply chains being disrupted, […]
The respective boards of directors of Strategy International Insurance Group, Inc. (OTCBB:SGYI) and RS Group of Companies, Inc. (OTCBB:RSGC) recently approved a letter agreement stating that RS Group would be merged with and into Strategy or a wholly-owned subsidiary of Strategy.The merger will be subject to the execution of a definitive merger agreement, the vote […]
Enterprise Rent-A-Car recently released a new Canadian travel agency partnership program, which offers each agency the ability to set its own commission structure. Under the new program which currently has more than 1,000 agents enrolled agencies can select from four different rate and commission structures based on which best suits their individual business needs. However, […]
By Canadian Underwriter | January 10, 2006
Although passenger air flights have experienced a significant increase in fatalities 913 deaths in 2005, compared to 347 in 2004 insured losses will likely only increase a small amount, a recent report published by London-based Airclaims Ltd. notes.Western-built jets which Airclaims reports transport approximately 90% of all air traffic set the scene for eight fatal […]
We use cookies to make your website experience better. By accepting this notice and continuing to browse our website you confirm you accept our Terms of Use & Privacy Policy.
